Stolt Tankers B.V. Orders Five 38,000 Deadweight Ton Stainless Steel
Parcel Tankers from Hudong-Zhonghua Shipyard in China
LONDON -- (Marketwire) -- 11/27/12 -- Stolt Tankers B.V., a
subsidiary of Stolt-Nielsen Limited (Oslo Bors: SNI), announced
today that it has reached an agreement with Hudong-Zhonghua
Shipbuilding (Group) Co., Ltd. (Hudong-Zhonghua) and
Shipbuilding Trading Co. Ltd, (CSTC), under China Shipbuilding
(CSSC), for five plus three options 38,000
deadweight ton (dwt) stainless steel
parcel tankers, with
deliveries expected to take place from December 2015
agreement is subject to satisfactory financing being obtained.
The ships were designed to deliver substantial improvements in fuel
while providing operational flexibility with their
fully stainless steel cargo
tanks, cargo pumps, heating and
cooling capacity. With a relatively shallow
draft when fully
loaded, the ships are expected to consume significantly less
compared with existing parcel tankers.
Niels G. Stolt-Nielsen, Chief Executive Officer of Stolt-Nielsen
"This new generation of parcel tankers gives us both
improved energy efficiency
and the cargo handling flexibility that
our contract of affreightment customers
require. The order
represents approximately half of our required replacement
through 2016, given Stolt Tankers' present contract portfolio."
Each of the ships will have 43 stainless steel tanks with a
total volume of 44,000 cubic meters. The parcel tankers will meet
both Marpol Annex I and Annex
II cargo requirements, complying with
common structural rules for oil tankers.
The ships will have IMO
I, II and III capabilities and will be able to handle
the full range
of difficult-to-handle cargoes that Stolt Tankers carries.
The new ships will replace five 1986-built parcel tankers
scheduled for recycling in 2016.
Stolt Tankers and its partners today own and operate globally 150
in size from 1,100 dwt to 44,000 dwt.
About Stolt-Nielsen Limited
Stolt-Nielsen Limited (SNL or the "Company") is a leading global
provider of integrated transportation solutions for bulk liquid
chemicals, edible oils,
acids, and other spe
cialty liquids through
its three largest business divisions,
Stolt Tankers, Stolthaven
Terminals and Stolt Tank Containers. Stolt Sea Farm
markets high quality turbot, sole, sturgeon, and caviar.
Stolt-Nielsen Gas, through its investment in Avance Gas Holding
liquefied petroleum gas (LPG) with a fleet of very
large gas carriers (VLGCs).
Stolt-Nielsen Limited is listed on the
Oslo Stock Exchange.
This information is subject of the disclosure requirements pursuant
5-12 of the Norwegian Securities Trading Act.
This press release contains "forward-looking statements" based on
available to the Company on the date hereof, and
the Company assumes no obligation to update any such forward-looking
statement. These statements may be identified by the use of
words like "anticipate," "believe," "estimate,"
"intend," "may," "plan," "project," "will," "should," "seek," and
similar expressions. The forward-looking statements reflect the
current views and assumptions and are subject to risks
and uncertainties. The Company does not represent or warrant that the
Company's actual future results,
performance or achievements will
be as discussed in the those statements, and assumes no obligation
to, and does not intend to, update any of those forward-looking
statements other than as may be required by applicable law.
This information is subject of the disclosure requirements acc. to
Section 5-12 vphl (Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Stolt-Nielsen Limited via Thomson Reuters ONE
Jan Chr. Engelhardtsen
Chief Financial Officer
UK +44 (0) 20 7611 8972
Jens F. Gruner-Hegge
VP Corporate Finance
UK +44 (0) 20 7611 8985
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