Stolt-Nielsen S.A. Reaches Agreement with SLS To Purchase Cancelled Parcel Tankers
January 11 2010 - 4:15AM
Marketwired
Stolt-Nielsen S.A. (SNSA) (Oslo Bors: SNI) announced today that
it has reached an agreement with SLS Shipbuilding Co. Ltd. (SLS) to
buy the four 44,000 deadweight ton (dwt) fully coated parcel
tankers that SNSA had originally ordered in June 2005. Â The price
of the ships is in line with what is believed to be current
newbuilding prices. Â Terms of the agreement require SLS to deliver
the four ships between mid-February and mid-July 2010.
Stolt had previously cancelled the four newbuilding contracts,
citing extensive construction delays.
Commenting on the announcement, Mr. Niels G. Stolt-Nielsen,
Chief Executive Officer of Stolt-Nielsen S.A., said, "We are
pleased to have reached this agreement with SLS, and it is now up
to the yard to deliver these ships by the agreed dates."
For additional information please contact:
Jan Chr. Engelhardtsen
Chief Financial Officer
UK +44 (0) 20 7611 8972
j.engelhardtsen@stolt.com
Jens F. GrÃOEner-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 its parcel tanker, tank container, terminal, rail
and barge operations, 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,2 "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)
[HUG#1371967]
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