----

| Clause  | Page |
|--------------|------|

| 1. | Defintions  | 4 |
|----|------------------|---|

| 2. | Agreement of Bank  | 5 |
|----|-------------------------|---|

| 3. | Amendments to the Principal Agreement and the Principal Corporate Guarantee  | 6 |
|----|-----------------------------------------------------------------------------------|---|

| 4. | Representations and warranties  | 12 |
|----|--------------------------------------|----|

| 5. | Conditions  | 13 |
|----|------------------|----|

| 6. | Relevant Parties' confirmations  | 13 |
|----|---------------------------------------|----|

| 7. | Expenses  | 14 |
|----|----------------|----|

| 8. | Miscellaneous and notices  | 15 |
|----|---------------------------------|----|

| 9. | Applicable law  | 15 |
|----|----------------------|----|

| Schedule 1  Documents and evidence required as conditions precedent | 17 |
|--------------------------------------------------------------------------|----|

----

| (1) | ANDROS MARINE INC., a corporation incorporated under the laws of the Republic of Liberia having its registered office at 80 Broad Street, Monrovia, Liberia (the "Andros Borrower"); |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | DILOS MARINE INC., a corporation incorporated under the laws of the Republic of Liberia having its registered office at 80 Broad Street, Monrovia, Liberia (the "Dilos Borrower"); |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | IOS MARINE INC., a corporation incorporated under the laws of the Republic of Liberia having its registered office at 80 Broad Street, Monrovia, Liberia (the "Ios Borrower"); |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | ANAFI SHIPPING (PTE.) LTD., a company incorporated under the laws of Singapore having its registered office at 22 Jalan Kilang, #0601 Mova Building, Singapore 159419 (the "Anafi Borrower"); |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | AEGEAN VII SHIPPING LTD, a company incorporated under the laws of the Republic of Malta having its registered office at 13/16 Vincenti Buildings, Strait Street, Valletta, VLT 1432, Republic of Malta, (the "Tinos Borrower" and, together with the Andros Borrower, the Dilos Borrower, the los Borrower and the Anafi Borrower, the "Borrowers"); |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6) | THE ROYAL BANK OF SCOTLAND PLC, whose registered office is at 36 St. Andrew Square, Edinburgh EH2 2YB, Scotland acting through its office at 45 Akti Miaouli, 185 36 Piraeus, Greece (the "Bank"); |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (7) | AEGEAN BUNKERING SERVICES INC., a corporation incorporated under the laws of the Republic of the Marshall Islands having its registered office at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960 as manager (the "Manager"); and |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (8) | AEGEAN MARINE PETROLEUM NETWORK INC., a corporation incorporated in the Marshall Islands with its registered office at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960 as corporate guarantor (the "Corporate Guarantor"). |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (A) | this Agreement is supplemental to: |
|-----|------------------------------------|

|   | (a) | the loan agreement dated 5 July 2007 (the "Original Agreement"), as amended and/or restated and/or supplemented by a first supplemental agreement dated 12 September 2008 (the "First Supplemental Agreement"), a second supplemental agreement dated 5 February 2010 (the "Second Supplemental Agreement"), a third supplemental agreement dated 11 February 2011 (the "Third Supplemental Agreement"), a fourth supplemental agreement dated 6 April 2011 (the "Fourth Supplemental Agreement"), a supplemental letter dated 23 June 2011 (the "Supplemental Letter"), a fifth supplemental agreement dated 4 August 2011 (the "Fifth Supplemental Agreement") and a sixth supplemental agreement dated 8 August 2011 (the "Sixth Supplemental Agreement and, together with the Original Agreement, the First Supplemental Agreement, the Second Supplemental Agreement, the Third Supplemental Agreement, the Fourth Supplemental Agreement, the Supplemental Letter and the Fifth Supplemental Agreement, the "Principal Agreement") made between, inter alios, the Borrowers and the Bank relating to a loan facility of up to $43,160,000 to be used for the purposes stated therein (of which the principal amount outstanding on the date of this Agreement is $35,233,200); and |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the corporate guarantee dated 5 February 2010 (the "Principal Corporate Guarantee") made between the Corporate Guarantor and the Bank in respect of the obligations of the Borrowers under the Principal Agreement; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | the Borrowers have requested that the Bank provide its consent to the change of flag of the Ship (as defined below) from the flag of Singapore to the flag of Hong Kong; and |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (C) | this Agreement sets out the terms and conditions upon which the Bank shall, at the request of the Borrowers, provide its consent to: |
|-----|--------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | said change of flag of the Ship; and |
|--------|-----|--------------------------------------|

|   | (b) | certain other amendments to the terms and conditions applicable to the Principal Agreement and the Principal Corporate Guarantee requested for by the Borrowers and agreed by the Bank. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1. | Definitions |
|----|-------------|

| 1.1 | Defined expressions |
|-----|---------------------|

| 1.2 | Definitions |
|-----|-------------|

----

| 1.3 | Principal Agreement and Principal Corporate Guarantee |
|-----|-------------------------------------------------------|

| 1.3.1 | References in the Principal Agreement to "this Agreement" shall, with effect from the Effective Date and unless the context otherwise requires, be references to the Principal Agreement as amended by this Agreement and words such as "herein", "hereof", "hereunder", "hereafter", "hereby" and "hereto", where they appear in the Principal Agreement, shall be construed accordingly. |
|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.3.2 | References in the Principal Corporate Guarantee to "this Guarantee" shall, with effect from the Effective Date and unless the context otherwise requires, be references to the Principal Corporate Guarantee as amended by this Agreement and words such as "herein", "hereof", "hereunder", "hereafter", "hereby" and "hereto", where they appear in the Principal Corporate Guarantee, shall be construed accordingly. |
|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.4 | Headings |
|-----|----------|

| 1.5 | Construction of certain terms |
|-----|-------------------------------|

| 2. | Agreement of Bank |
|----|-------------------|

| 2.1 | Agreement |
|-----|-----------|

| 2.2 | Discharge of Existing Mortgage |
|-----|--------------------------------|

----

| 3. | Amendments to the Principal Agreement and the Principal Corporate Guarantee |
|----|-----------------------------------------------------------------------------|

| 3.1 | Amendments to Principal Agreement |
|-----|-----------------------------------|

| 3.1.1 | by deleting the definitions of "Corporate Guarantee", "Sifnos Deed of Covenant" and "Sifnos Mortgage" in clause 1.2 of the Principal Agreement in their entirety and by inserting in their place the following new definitions in the correct alphabetical order: |
|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.1.2 | by inserting the following new definition of "Seventh Supplemental Agreement" in the correct alphabetical order in clause 1.2 of the Principal Agreement: |
|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.1.3 | by deleting the definition of "Supplemental Agreements" in clause 1.2 of the Principal Agreement in its entirety and by inserting in its place the following new definition of "Supplemental Agreements": |
|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.1.4 | by adding the following new clauses 1.4.7 and 1.4.8 after clause 1.4.6 of the Principal Agreement, and by re-numbering the subsequent clauses accordingly: |
|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | "1.4.7 | "control" means, in relation to a body corporate: |
|--------|--------|---------------------------------------------------|

|   | (a) | the power (whether by way of ownership of shares, proxy, contract, agency or otherwise, directly or indirectly) to: |
|--------|-----|---------------------------------------------------------------------------------------------------------------------|

|   | (i) | cast, or control the casting of, more than fifty per cent (50%) of the maximum number of votes that might be cast at a general meeting of such body corporate; or |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | appoint or remove all, or the majority, of the directors or other equivalent officers of such body corporate; or |
|--------|------|------------------------------------------------------------------------------------------------------------------|

|   | (iii) | give directions with respect to the operating and financial policies of such body corporate with which the directors or other equivalent officers of such body corporate are obliged to comply; or |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (b) | the holding beneficially of more than fifty per cent (50%) of the issued share capital of such body corporate (excluding any part of that issued share capital that carries no right to participate beyond a specified amount in a distribution of either profits or capital); |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.4.8 | two or more persons are "acting in concert" if, pursuant to an agreement or understanding (whether formal or informal), they actively co-operate, through the acquisition (directly or indirectly) of shares in the Corporate Guarantor by any of them, either directly or indirectly to obtain or consolidate control of the Corporate Guarantor;"; |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.1.5 | by deleting clause 7.1.10 of the Principal Agreement in its entirety, and by substituting the "; and" at the end of clause 7.1.9 with a "."; |
|-------|----------------------------------------------------------------------------------------------------------------------------------------------|

| 3.1.6 | by inserting the following new clause 7.2.19 of the Principal Agreement immediately after clause 7.2.18, and by substituting the "." at the end of clause 7.2.18 with "; and": |
|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | "7.2.19 | Shareholdings |
|--------|---------|---------------|

|   | (a) | each of the Borrowers and the Manager are wholly-owned direct or indirect Subsidiaries of the Corporate Guarantor; and |
|--------|-----|------------------------------------------------------------------------------------------------------------------------|

|   | (b) | no less than 15% of the total issued voting share capital of the Corporate Guarantor and no less than 15% of the total issued share capital of the Corporate Guarantor, is ultimately beneficially owned by Mr Dimitrios Melisanidis; and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Mr Dimitrios Melisanidis has and exercises the control of the Corporate Guarantor and its board of directors; and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------|

|   | (d) | no person, or persons acting in concert (other than Mr Dimitrios Melisanidis) are the ultimate beneficial owners of more than 50% (or of any other percentage higher than that owned by Mr Dimitrios Melisanidis), of the total issued voting share capital of the Corporate Guarantor or have the control of the Corporate Guarantor or of its board of directors;"; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.1.7 | by deleting clause 8.3.15 of the Principal Agreement in its entirety, by adding "or" at the end of clause 8.3.13 and by substituting "; or" at the end of clause 8.3.14 with a "."; |
|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.1.8 | by inserting the words "or 5.4" after the words "clauses 5.2 or 5.3" in clause 10.1.2 of the Principal Agreement; |
|-------|-------------------------------------------------------------------------------------------------------------------|

| 3.1.9 | by deleting clause 10.1.27 of the Principal Agreement in its entirety and by inserting the following new clause 10.1.27 in its place: |
|-------|---------------------------------------------------------------------------------------------------------------------------------------|

|   | "10.1.27 | Shareholdings: |
|--------|----------|----------------|

|   | (a) | Mr Dimitrios Melisanidis is at any time the ultimate beneficial owner of less than 15% of the total issued voting share capital of the Corporate Guarantor or of less than 15% of the total issued share capital of the Corporate Guarantor; or |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | any person, or persons acting in concert (other than Mr Dim itrios Melisanidis) become at any time the ultimate beneficial owners of more than 50% (or of a percentage higher than that then owned by Mr Dimitrios Melisanidis) of the total issued voting share capital of the Corporate Guarantor or of the total issued share capital of the Corporate Guarantor or at any time obtain, have or exercise the control of the Corporate Guarantor or of its board of directors; or |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (c) | Mr Dimitrios Melisanidis does not have or exercise the control of the Corporate Guarantor or its board of directors at any time; or |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | there is any change in the legal and/or beneficial ownership of any of the shares of the Borrowers or the Manager which results in any such Security Party ceasing to be a wholly-owned direct or indirect Subsidiary of the Corporate Guarantor; or"; and |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.1.10 | by inserting the following", which shall include the filing and registration of the Security Documents against the Sifnos Borrower at the Hong Kong Companies Registry within the timeframe stipulated under the Companies Ordinance (Cap 32) of the laws of Hong Kong" at the end of clause 13.3 of the Principal Agreement. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.2 | Amendments to Principal Corporate Guarantee |
|-----|---------------------------------------------|

| 3.2.1 | by deleting the definitions of "Accounting Information" and "Accounting Period" in clause 1.2 of the Principal Corporate Guarantee in their entirety and by inserting in their place the following new definitions: |
|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.2.2 | by inserting in alphabetical order the following new definitions in clause 1.2 of the Principal Corporate Guarantee: |
|-------|----------------------------------------------------------------------------------------------------------------------|

| 3.2.3 | by deleting the word "then" from the phrase "as stated in the then most recent Accounting Information" in all places where it appears in the definitions of "Consolidated Current Assets", "Consolidated Debt", "Consolidated Leverage Ratio", "Consolidated Liquid Funds", "Consolidated Tangible Fixed Assets", "EBIT", "Interest Cover Ratio" and "Interest Expense" in clause 1.2 of the Principal Corporate Guarantee (i.e. once in each such definition); |
|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.2.4 | by deleting clause 4.1.10 of the Principal Corporate Guarantee in its entirety and by inserting in its place the following new clause 4.1.10: |
|-------|-----------------------------------------------------------------------------------------------------------------------------------------------|

|   | "4.1.10 | Shareholdings |
|--------|---------|---------------|

|   | (a) | each of the Borrowers and the Manager are wholly-owned direct or indirect Subsidiaries of the Guarantor; and |
|--------|-----|--------------------------------------------------------------------------------------------------------------|

----

|   | (b) | no less than 15% of the total issued voting share capital of the Guarantor and no less than 15% of the total issued share capital of the Guarantor, is ultimately beneficially owned by Mr Dimitrios Melisanidis; and |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Mr Dimitrios Melisanidis has and exercises the control of the Guarantor and the board of directors of the Guarantor; and |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------|

|   | (d) | no person, or persons acting in concert (other than Mr Dimitrios Melisanidis) are the ultimate beneficial owners of more than 50% (or of any other percentage higher than that owned by Mr Dimitrios Melisanidis), of the total issued voting share capital of the Guarantor or of the total issued share capital of the Guarantor, or have, exercise or have obtained the control of the Guarantor or of its board of directors;"; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.2.5 | by deleting paragraph (b) in clause 5.1.4 of the Principal Corporate Guarantee in its entirety and by inserting in its place the following new paragraph (b): |
|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | "(b) | unaudited consolidated financial statements of the Group in accordance with the Applicable Accounting Principles consistently applied in respect of each financial quarter (including on a year to date basis),"; |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.2.6 | by deleting clause 5.3.1 of the Principal Corporate Guarantee in its entirety and by inserting in its place the following new clause 5.3.1: |
|-------|---------------------------------------------------------------------------------------------------------------------------------------------|

|   | "5.3.1 | The Guarantor undertakes with the Bank that, from the date of this Guarantee and so long as any moneys are owing under the Security Documents and while all or any part of the Commitment remains available, it will ensure that: |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | Consolidated Book Net Worth |
|--------|-----|-----------------------------|

|   | (b) | Consolidated Leverage Ratio |
|--------|-----|-----------------------------|

|   | (c) | Liquidity |
|--------|-----|-----------|

|   | (i) | Consolidated Liquid Funds of no less than $30,000,000 at the end of each calendar month and at the end of each Accounting Period; and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | Consolidated Liquid Funds of no less than $15,000,000 on an average daily basis; |
|--------|------|----------------------------------------------------------------------------------|

|   | (d) | Interest Cover Ratio |
|--------|-----|----------------------|

|   | (i) | 2.0:1.0 at the end of each Accounting Period ending on or before 31 December 2010; |
|--------|-----|------------------------------------------------------------------------------------|

|   | (ii) | 1.35:1.0 at the end of each Accounting Period ending between 1 January 2011 and 31 December 2011 (inclusive); and |
|--------|------|-------------------------------------------------------------------------------------------------------------------|

|   | (iii) | 1.6:1.0 at the end of each Accounting Period ending after 1 January 2012; and |
|--------|-------|-------------------------------------------------------------------------------|

----

|   | (e) | Current Ratio |
|--------|-----|---------------|

|   | the Current Ratio shall not be less than: |
|--------|-------------------------------------------|

|   | (i) | 1.15:10 at the end of each Accounting Period ending on or before 30 January 2012; |
|--------|-----|-----------------------------------------------------------------------------------|

|   | (ii) | 1.05:1.0 at the end of each of Accounting Period ending between 31 January 2012 and 31 January 2013 (both inclusive); and |
|--------|------|---------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | 1.15:1.0 at the end of each Accounting Period ending after 1 February 2013."; |
|--------|-------|-------------------------------------------------------------------------------|

| 3.2.7 | by inserting the following new clause 5.4 after clause 5.3 of the Principal Corporate Guarantee: |
|-------|--------------------------------------------------------------------------------------------------|

|   | "5.4 | Most favoured nation |
|--------|------|----------------------|

|   | 5.4.1 | Without prejudice to the provisions of clause 5.2, the Guarantor undertakes that it will not agree to or grant or agree to grant at any time for the benefit of, or in favour of, any of its lenders or creditors a minimum Current Ratio undertaking which is higher than 1.05:1.0 (the "more favourable rights"). |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 5.4.2 | Without prejudice to clause 5.4.1 and the consequences of its breach by the Guarantor under clause 10 of the Agreement, in the event that and each time that the Guarantor agrees to, or grants, or agrees to grant, any more favourable rights in breach of clause 5.4.1, the Guarantor undertakes and agrees with the Bank: |
|--------|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | to notify the Bank forthwith after the relevant agreement to, or the granting of or any agreement to grant (as the case may be), such more favourable rights; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | to agree to, provide and grant, such more favourable rights also in favour of the Bank under or in connection with this Guarantee and the other Security Documents (and the transactions contemplated thereunder), by entering into (and/or by procuring that any Security Party or any other person entering into) such documentation as the Bank shall reasonably require, immediately after the Bank's request to the Guarantor; and |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | that any such more favourable rights shall in any event apply to this Guarantee and the other Security Documents automatically from the time they are granted to the other lender or creditor, and irrespective of whether the Guarantor and the other Security Parties have complied with their other obligations under this clause 5.4, except if the Bank at any time advises the Guarantor that such or certain of such more favourable rights will not so apply and always without prejudice to the terms and conditions of this Guarantee and the other Security Documents."; and |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.2.8 | by deleting clause 1 of schedule 1 (Form of Compliance) of the Principal Corporate Guarantee in its entirety and by inserting in its place the following new clause 1: |
|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | "1 | Financial undertakings |
|--------|----|------------------------|

|   | (a) | Consolidated Book Net Worth shall not be less than $410,000,000 at the end of any Accounting Period: - |
|--------|-----|--------------------------------------------------------------------------------------------------------|

|   | Ø | [·] |
|--------|--------|----------|

|   | Ø | [·] |
|--------|--------|----------|

----

|   | (b) | Consolidated Leverage Ratio shall not be higher than 0.7:1.0 at the end of any Accounting Period: - |
|--------|-----|-----------------------------------------------------------------------------------------------------|

|   | Ø | Consolidated Debt is $[·] |
|--------|--------|--------------------------------|

|   | Ø | Consolidated Total Assets are $[·]. |
|--------|--------|------------------------------------------|

|   | (c) | Consolidated Liquid Funds of no less than $30,000,000 at the end of each calendar month and $15,000,000 at the end of each Accounting Period: - |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Ø | cash held with the Bank of $[·]; |
|--------|--------|---------------------------------------|

|   | Ø | cash held with [·] of $[·]; |
|--------|--------|---------------------------------------|

|   | Ø | cash held with [·] of $[·]; |
|--------|--------|---------------------------------------|

|   | Ø | cash held with [·] of $[·]; |
|--------|--------|---------------------------------------|

|   | Ø | the undrawn amount of any committed overdraft facilities available to any member of the Group of $[·]; and |
|--------|--------|-----------------------------------------------------------------------------------------------------------------|

|   | Ø | other, such as [·] of $[·]. |
|--------|--------|---------------------------------------|

|   | (d) | Interest Cover Ratio shall be higher than [2.0] [1.35] [1.6]:1.0 at the end of each Accounting Period:- |
|--------|-----|---------------------------------------------------------------------------------------------------------|

|   | Ø | EBIT is $[·] |
|--------|--------|-------------------|

|   | Ø | Interest Expense is $[·]. |
|--------|--------|--------------------------------|

|   | (e) | Current Ratio shall not be less than [1.15] [1.05] [1.15]:1.0 at the end of each Accounting Period:- |
|--------|-----|------------------------------------------------------------------------------------------------------|

|   | Ø | Consolidated Current Assets are $[·] |
|--------|--------|-------------------------------------------|

|   | Ø | Consolidated Current Liabilities are $[·]. |
|--------|--------|-------------------------------------------------|

| 3.3 | Continued force and effect |
|-----|----------------------------|

----

| 4. | Representations and warranties |
|----|--------------------------------|

| 4.1 | Primary representations and warranties |
|-----|----------------------------------------|

| 4.1.1 | Existing representations and warranties |
|-------|-----------------------------------------|

| 4.1.2 | Corporate power |
|-------|-----------------|

| 4.1.3 | Binding obligations |
|-------|---------------------|

| 4.1.4 | No conflict with other obligations |
|-------|------------------------------------|

| 4.1.5 | No filings required |
|-------|---------------------|

| 4.1.6 | Choice of law |
|-------|---------------|

----

| 4.1.7 | Consents obtained |
|-------|-------------------|

| 4.2 | Repetition of representations and warranties |
|-----|----------------------------------------------|

| 5. | Conditions |
|----|------------|

| 5.1 | Documents and evidence |
|-----|------------------------|

| 5.2 | General conditions precedent |
|-----|------------------------------|

| 5.2.1 | the representations and warranties in clause 4 being true and correct on the Effective Date as if each was made with respect to the facts and circumstances existing at such time; and |
|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.2.2 | no Default having occurred and continuing at the time of the Effective Date. |
|-------|------------------------------------------------------------------------------|

| 5.3 | Waiver of conditions precedent |
|-----|--------------------------------|

| 6. | Relevant Parties' confirmations |
|----|---------------------------------|

| 6.1 | Corporate Guarantee |
|-----|---------------------|

| 6.1.1 | the Corporate Guarantee and the obligations of the Corporate Guarantor thereunder, shall remain and continue in full force and effect notwithstanding the transfer of the Ship from the Existing Flag State to the New Flag State, the amendments to the Principal Agreement, the amendments to the Principal Corporate Guarantee, the discharge of the Existing Mortgage and the other arrangements contained in this Agreement; and |
|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.1.2 | with effect from the Effective Date: |
|-------|--------------------------------------|

|   | (a) | references in the Principal Corporate Guarantee to the "Agreement" or the "Facility Agreement" or the "Loan Agreement" (or similar or equivalent references) shall henceforth be references to the Principal Agreement as amended by this Agreement and as from time to time hereafter amended and shall also be deemed to include this Agreement and the obligations of the Borrowers hereunder; and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (b) | references in the Principal Corporate Guarantee to "this Guarantee" (or similar or equivalent references) shall henceforth be references to the Principal Corporate Guarantee as amended by this Agreement and as from time to time hereafter amended and shall also be deemed to include this Agreement and the obligations of the Borrowers hereunder. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.2 | Security Documents |
|-----|--------------------|

| 6.2.1 | the Security Documents to which such Relevant Party is a party and the obligations of such Relevant Party thereunder, shall remain and continue in full force and effect notwithstanding the transfer of the Ship from the Existing Flag State to the New Flag State, the said amendments to, the Principal Agreement, the amendments to the Principal Corporate Guarantee, the discharge of the Existing Mortgage and the other arrangements contained in this Agreement; and |
|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.2.2 | with effect from the Effective Date' |
|-------|--------------------------------------|

|   | (a) | references in the Security Documents to which such Relevant Party is a party to the "Agreement" or the "Facility Agreement" or the "Loan Agreement" (or similar or equivalent references) shall henceforth be references to the Principal Agreement as amended by this Agreement and as from time to time hereafter amended and shall also be deemed to include this Agreement and the obligations of the Borrowers hereunder; and |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | references in the Security Documents to which such Relevant Party is a party to the "Corporate Guarantee" (or similar or equivalent references) and the Corporate Guarantor shall henceforth be references to such document as amended by this Agreement and as from time to time hereafter amended and shall also be deemed to include this Agreement and the obligations of the Borrowers and the Corporate Guarantor hereunder. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7. | Expenses |
|----|----------|

| 7.1 | Expenses |
|-----|----------|

| 7.1.1 | in connection with the negotiation, preparation, execution and, where relevant, registration of this Agreement and the other Relevant Documents and of any amendment or extension of or the granting of any waiver or consent under this Agreement and the other Relevant Documents; |
|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.1.2 | in contemplation of, or otherwise in connection with, the enforcement of, or preservation of any rights under this Agreement or any of the other Relevant Documents or otherwise in respect of the monies owing and obligations incurred under this Agreement and the other Relevant Documents, |
|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 7.2 | Value Added Tax |
|-----|-----------------|

| 7.3 | Stamp and other duties |
|-----|------------------------|

| 8. | Miscellaneous and notices |
|----|---------------------------|

| 8.1 | Notices |
|-----|---------|

| 8.2 | Counterparts |
|-----|--------------|

| 8.3 | Borrowers' obligations |
|-----|------------------------|

| 9. | Applicable law |
|----|----------------|

| 9.1 | Law |
|-----|-----|

| 9.2 | Submission to jurisdiction |
|-----|----------------------------|

----

| 9.3 | Contracts (Rights of Third Parties) Act 1999 |
|-----|----------------------------------------------|

----

| 1. | Corporate authorisation |
|----|-------------------------|

|   | (a) | Constitutional documents |
|--------|-----|--------------------------|

|   | (b) | Resolutions |
|--------|-----|-------------|

|   | (1) | being true and correct; |
|--------|-----|-------------------------|

|   | (2) | being duly passed at meetings of the directors of such Relevant Party and of the shareholders of such Relevant Party each duly convened and held; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | not having been amended, modified or revoked; and |
|--------|-----|---------------------------------------------------|

|   | (4) | being in full force and effect |
|--------|-----|--------------------------------|

|   | (c) | Certificate of incumbency |
|--------|-----|---------------------------|

| 2. | Consents |
|----|----------|

----

| 3. | Ship conditions |
|----|-----------------|

|   | (a) | Registration and Encumbrances |
|--------|-----|-------------------------------|

|   | (b) | Insurance |
|--------|-----|-----------|

|   | (c) | Classification |
|--------|-----|----------------|

| 4. | New Mortgage registration |
|----|---------------------------|

| 5. | Notices of Assignment |
|----|-----------------------|

| 6. | Deletion |
|----|----------|

| 7. | Relevant Documents |
|----|--------------------|

| 8. | Registrations |
|----|---------------|

| 9. | Legal opinions |
|----|----------------|

| 10. | Process agent |
|-----|---------------|

----

| EXECUTED as a DEED by Ypapanti Koumbiadoufor and on behalf of each of the following corporations:ANDROS MARINE INC.DILOS MARINE INC.IOS MARINE INC.AEGEAN VII SHIPPING LTDas Borrowersin the presence of:                                                     | ))))))))                                       |     /s/ Ypapanti Koumbiadou                                                        Attorney-in-fact |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    /s/ Alice Southall                                   Witness |                                           |                                                                                                                                                                                                                                                                                                                                                                                                            |
| Name:Address:Occupation:                                                                                                                                                                                                                                      | Alice SouthallNorton Rose LLPTrainee Solicitor |                                                                                                                                                                                                                                                                                                                                                                                                            |   |

| SIGNED, SEALED and DELIVERED as a DEEDby Ypapanti Koumbiadoufor and on behalf ofANAFI SHIPPING (PTE.) LTD.as Borrowerin the presence of:                                                                                                                            | ))))))                                         |     /s/ Ypapanti Koumbiadou                                                      Attorney-in-fact |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    /s/ Alice Southall                                    Witness |                                           |                                                                                                                                                                                                                                                                                                                                                                                                |
| Name:Address:Occupation:                                                                                                                                                                                                                                            | Alice SouthallNorton Rose LLPTrainee Solicitor |                                                                                                                                                                                                                                                                                                                                                                                                |   |

| EXECUTED as a DEEDby Georgios Laiosfor and on behalf ofTHE ROYAL BANK OF SCOTLAND PLCas Bankin the presence of:                                                                                                                                               | )))))                                          |    /s/ Georgios Laios                                                                   Attorney-in-fact |
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|   /s/ Alice Southall                                    Witness |                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| Name:Address:Occupation:                                                                                                                                                                                                                                      | Alice SouthallNorton Rose LLPTrainee Solicitor |                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |

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| EXECUTED as a DEEDby Ypapanti Koumbiadoufor and on behalf ofAEGEAN BUNKERING SERVICES INC.as Managerin the presence of:                                                                                                                                       | )))))                                          |    /s/ Ypapanti Koumbiadou                                                      Attorney-in-fact |
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|   /s/ Alice Southall                                    Witness |                                           |                                                                                                                                                                                                                                                                                                                                                                                          |
| Name:Address:Occupation:                                                                                                                                                                                                                                      | Alice SouthallNorton Rose LLPTrainee Solicitor |                                                                                                                                                                                                                                                                                                                                                                                          |   |

| EXECUTED as a DEED by Ypapanti Koumbiadoufor and on behalf ofAEGEAN MARINE PETROLEUM NETWORK INC.as Corporate Guarantorin the presence of:                                                                                                                          | )))))                                          |    /s/ Ypapanti Koumbiadou                                                      Attorney-in-fact |
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|    /s/ Alice Southall                                    Witness |                                           |                                                                                                                                                                                                                                                                                                                                                                                          |
| Name:Address:Occupation:                                                                                                                                                                                                                                            | Alice SouthallNorton Rose LLPTrainee Solicitor |                                                                                                                                                                                                                                                                                                                                                                                          |   |