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Stolt-Nielsen S.A. Enters into Three-Year Time Charter of VLGC "Yuhsho"
London, England - November 4, 2009 - Stolt-Nielsen S.A. (SNSA) (Oslo B?rs: 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
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 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.
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.