2012-11-27 10:29:33 -
LONDON, November 27, 2012 - Stolt Tankers B.V., a subsidiary of Stolt-Nielsen
Limited (Oslo Børs: SNI), announced today that it has reached an agreement with
Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. (Hudong-Zhonghua) and China
Shipbuilding Trading Co. Ltd, (CSTC), under China Shipbuilding Group Corporation
(CSSC), for five plus three options 38,000 deadweight ton (dwt) stainless steel
parcel tankers, with deliveries expected to take place from December 2015
onwards. The agreement is subject to satisfactory financing being obtained.
The ships were designed to deliver substantial improvements in fuel efficiency,
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
fuel compared with existing parcel tankers.
Niels G. Stolt-Nielsen, Chief Executive Officer of Stolt-Nielsen Limited, said,
"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
tonnage 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 ships ranging
in size from 1,100 dwt to 44,000 dwt.
Jan Chr. Engelhardtsen
Chief Financial Officer
UK +44 (0) 20 7611 8972
Jens F. Grüner-Hegge
VP Corporate Finance
UK +44 (0) 20 7611 8985
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 specialty liquids through its three largest business divisions,
Stolt Tankers, Stolthaven Terminals and Stolt Tank Containers. Stolt Sea Farm
produces and markets high quality turbot, sole, sturgeon, and caviar. Stolt-
Nielsen Gas, through its investment in Avance Gas Holding Ltd., transports
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 to section
5-12 of the Norwegian Securities Trading Act.
This press release contains "forward-looking statements" based on information
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,"
"expect," "intend," "may," "plan,"
"project," "will," "should," "seek," and
similar expressions. The forward-looking statements reflect the Company's
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 §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 that:
(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