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Aegean Marine Petroleum expands in Panama with 20-year concession

Tuesday, April 19, 2011

Aegean Marine Petroleum Network said it got a 20-year exclusive concession to operate onshore storage facilities in two ports on each end of the Panama Canal.

Greece-based Aegean, which supplies marine fuel and lubricants to ships in ports and at sea, expects to start operating at Cristobal and Balboa by the second quarter. The two ports have about 14,000 transits per year and generate about 3 million metric tons of marine fuel sales volumes, Aegean said.

Original source: Reuters