Aegean Marine Petroleum Network Announces Alliance With China Changjiang Bunker

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4/9/2012 4:49 PM ET

Aegean Marine Petroleum Network Inc. (ANW: Quote) announced that it signed a Memorandum of Understanding to establish a strategic alliance with China Changjiang Bunker (Sinopec) Co. Ltd. or CCBC, a Chinese state-owned enterprise jointly owned by SINOPEC Sales Co., Ltd. and SINOTRANS & CSC.

The strategic partnership is expected to become effective during the second quarter of 2012 upon completion of final documentation.

Aegean said that it will be responsible for the supply and delivery of marine fuels to CCBC's customers in Aegean's network currently covering 19 countries throughout North America, South America, Central America, Europe, Africa and the Middle East.

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