Stolt-Nielsen S.A. Enters into Three-Year Time Charter of VLGC "Yuhsho"
November 04 2009 - 4:55AM
Marketwired
Stolt-Nielsen S.A. (SNSA) (Oslo Børs: SNI) today announced that
the Company through its subsidiary Stolt-Nielsen Gas Ltd. has
entered into a time charter of the 1999-built Very Large Gas
Carrier (VLGC) Yuhsho. The Yuhsho is owned by Yuyo Steamship Co.,
Ltd. of Japan, and the period of the time charter is for three
years with further options. The ship has a capacity of 78,498 cbm
and was built by Mitsubishi Heavy Industries, Ltd. and delivered in
February 1999.
Commenting on the delivery, Mr. Christian Andersen, President of
Stolt-Nielsen Gas Ltd., said: "Stolt-Nielsen Gas Ltd. was
established in 2007 to explore investments in LPG tankers. Yuhsho
is our first venture into the VLGC market. Although current
earnings are near historic lows, we believe the longer term supply
and demand fundamentals remain attractive."
For additional information please contact:
Jan Chr. Engelhardtsen
Chief Financial Officer
UK +44 (0) 20 7611 8972
j.engelhardtsen@stolt.com
Jens F. Grüner-Hegge
V.P. Corporate Finance
UK +44 (0) 20 7611 8985
j.gruner-hegge@stolt.com
About Stolt-Nielsen S.A.
Stolt-Nielsen S.A. (SNSA or the "Company") is one of the world's
leading providers of transportation services for bulk liquid
chemicals, edible oils, acids, and other specialty liquids. The
Company, through the parcel tanker, tank container, terminal, rail
and barge services of its wholly owned subsidiary Stolt Tankers
& Terminals and Stolt Tank Containers, provides integrated
transportation solutions for its customers. Stolt Sea Farm, wholly
owned by the Company, produces and markets high quality turbot,
sole, sturgeon, and caviar. Stolt-Nielsen is listed on the Oslo
Stock Exchange.
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 announcement was originally distributed by Hugin. The
issuer is solely responsible for the content of this
announcement.
Copyright © Hugin AS 2009. All rights reserved.
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