UPDATE 1-Aegean Marine Q3 tops Street

* Q3 EPS $0.33 vs est $0.30

* Q3 revenue down 22.6 pct to $736.1 mln

* Marine fuel volume sold up 22.1 percent

Nov 11 (Reuters) - Aegean Marine Petroleum Network Inc (ANW.N) posted strong quarterly results, helped by higher sales volumes in its core markets and an increase in gross spread on marine petroleum products.

The company, which supplies refined marine fuel to ships in port and at sea, posted a net income of $14.1 million, or 33 cents a share, up from $9.5 million, or 22 cents, a year earlier.

Revenue fell about 23 percent to $736.1 million.

Analysts on average expected earnings of 30 cents a share, before items, on revenue of $623.2 million, according to Thomson Reuters I/B/E/S.

"Aegean's financial results for the third quarter reflect sales volume growth in core markets located in Greece, Gibraltar, the UAE and Singapore as well as contributions from new markets," Chief Financial Officer Spyros Gianniotis said in a statement.

The company said it began operations in Tangiers, Morocco, the third new market launched by Aegean this year.

The volume of marine fuel sold rose 22 percent to 1.6 million metric tons for the quarter ended Sept. 30. Gross spread on marine petroleum products rose 8 percent to $47.9 million.

Gross spreads are calculated by subtracting the cost of the respective marine petroleum product sold and cargo transportation costs from the sales of the respective marine petroleum product.

Shares of the company were trading flat at $24.65 after the bell. (Reporting by Arundhati Ramanathan in Bangalore; Editing by Deepak Kannan)