Aegean Marine Signs Marine Fuel Partnership Deal with China Changjiang Bunker; Shares Add 4%


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Aegean Marine Petroleum Network ( ANW ) has entered into a strategic alliance with China Changjiang Bunker, a Chinese state-owned enterprise jointly owned by Sinopec SINOPEC Sales Co., Ltd. and SINOTRANS and CSC.

Under the agreement, China Changjiang Bunker will provide comprehensive marine fuel services on behalf of ANW's customers in strategic Chinese ports, while ANW will be responsible for the supply and delivery of marine fuels to China Changjiang Bunker's customers in ANW's network.

The partnership will take effect in Q2.

Shares are up 4.29% to $7.28 and have touched a day high $7.41, with a 52-week range of $3.19 - $9.44.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

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