Stolt-Nielsen Transportation Group to Purchase 600 Stainless Steel Tank Containers from China International Marine Containers (Group) Co. Ltd.
Rotterdam, The Netherlands - April 13, 2005 - Stolt-Nielsen Transportation Group (SNTG), a subsidiary of Stolt-Nielsen S.A. (NasdaqNM: SNSA; Oslo Stock Exchange: SNI), announced today that it has agreed to purchase 600 new stainless steel tank containers from China International Marine Containers (Group) Co. Ltd. (CIMC).
The 25,000 litre tanks will be deployed by Stolt Tank Containers' (STC) food and chemical fleets as needed. Terms call for delivery of the tanks by the end of the third quarter of 2005. Financial terms of the transaction were not disclosed.
Commenting on the purchase, Michael W. Kramer, managing director, Stolt Tank Containers Division, said, "Our decision to augment STC's fleet is directly attributable to the strong and growing demand we are seeing in the global marketplace, as well as our continuing efforts to expand our food-grade business. The acquisition of these tanks represents the most recent step of an ongoing initiative to expand our fleet. STC is committed to investing in the resources and capabilities needed to meet the constantly growing demands of our customers worldwide."
The purchase of the new tanks - STC's first since 2001 and its first from CIMC -will increase the unit's fleet to more than 18,000 tank containers, the largest by far in the industry.
"CIMC responded to our needs by meeting all three of our key criteria: quality, price and speed of delivery," said Kramer. "
As one of the world's largest door-to-door tank container operators, Stolt Tank Containers serves customer needs for specialty-liquid and food-grade services in all major markets worldwide. STC's Q.L.M. (Quality Lease Management) services are tailor-made comprehensive packages that incorporate integrated order management, technical support, shipping, repairs and maintenance for customers' owned or leased-in tanks.
About Stolt-Nielsen S.A.
Stolt-Nielsen S.A. (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-Nielsen Transportation Group, provides integrated transportation for its customers. Stolt Sea Farm, wholly-owned by the Company, produces and markets high quality Atlantic salmon, salmon trout, turbot, halibut, sturgeon, caviar, bluefin tuna, and tilapia.