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Aegean Marine Petroleum Network Inc.
Aegean Marine Petroleum Network Inc. Enters into Agreement to Sell Two Specialty Ro-Ro Tankers
May 29th, 2009
Aegean Marine Petroleum Network Inc. (NYSE:ANW) announced that it has entered into an agreement to sell its two 2,400 dwt specialty ro-ro tankers, the Maistros and the Ostria, to an unrelated third party. Upon completing the sale of both vessels, which are not related to Aegean's core business for the physical supply of marine fuel, the Company expects to realize a net gain in the second quarter of 2009. The Company intends to use the proceeds of the sale to pay down debt. E. Nikolas Tavlarios, President, commented, "With this transaction, management has once again acted opportunistically for shareholders. The agreement to sell Aegean's two specialty ro-ro tankers at an...
Source: Health Business Week (2009-05-29)
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