Login RegisterOpen Search
Stolt-Nielsen S.A. Announces Acquisition of the LPG Carrier Althea Gas
London, England - November 19, 2009 - Stolt-Nielsen S.A. (SNSA) (Oslo B?rs: SNI) today announced that it has agreed to acquire through its subsidiary Stolt-Nielsen Gas Ltd. the 82,557 cbm LPG carrier Althea Gas from Iino Kaiun Kaisha of Japan. The ship was built by Kawasaki Heavy Industries, Ltd. of Japan in 2003. Delivery to Stolt-Nielsen Gas Ltd. is scheduled to take place in early 2010.
The purchase of the Althea Gas follows SNSA's recently announced entry into the VLGC market with the three-year time charter of the LPG carrier Yuhsho. Commenting on the transaction, Mr. Niels G. Stolt-Nielsen, Chief Executive Officer of SNSA, said: "We are pleased to acquire the Althea Gas at what we believe to be attractive terms, which will give us a competitively priced asset to operate. Our current intention is to trade the Althea Gas alongside Yuhsho in the spot and time-charter market."
For additional information please contact:
Jan Chr. Engelhardtsen
Chief Financial Officer
UK +44 (0) 20 7611 8972
Jens F. Gr?ner-Hegge
V.P. Corporate Finance
UK +44 (0) 20 7611 8985
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.
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.