LONDON--(Marketwire - Nov 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.
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.
Forward-Looking Statements
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,"
"estimate,"
"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
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