Stolt-Nielsen Limited Comments on the Article in Today's Copy of Dagens Næringsliv
LONDON, February 15, 2011 - Stolt-Nielsen Limited (Oslo Børs: SNI) would like to comment on the article in today's copy of Dagens Næringsliv on the subject of piracy.
Stolt-Nielsen Limited ("SNL") would like to emphasise that the comments contained within the article are Mr. Jacob Stolt-Nielsen's own personal opinion.
SNL will first and foremost do what it takes to protect our crews and, in so doing, our ships and the cargoes of our customers.
SNL supports outside government intervention to stabilise Somalia, as shipping industry organisations have been urging for some time. Anarchy on land enables anarchy at sea. It is unrealistic to expect an end to piracy without establishing some form of government order in Somalia. Furthermore, the company fully supports industry calls on governments for more - and broader - naval protection. The piracy situation is not improving, it is escalating. Governments collectively need to step up to the challenge by taking action now and not wait and hope that the problem will disappear.
In view of the current crisis in the Indian Ocean with over 700 seafarers being held hostage and most recently a seafarer being executed, ship operators must be able to retain all possible options available to deter attacks and defend their crews against piracy. When the company has no alternative it will continue the use of armed guards, which has proved to be effective as a deterrent.
It should be stressed that the Risk Assessment and Mitigation Measures deployed by SNL have been shared fully with flags, insurers and major customers - and that we are in full compliance with all of their requirements.
Jan Chr. Engelhardtsen
Chief Financial Officer
UK +44 (0) 20 7611 8972
Jens F. Grüner-Hegge
V.P. Corporate Finance
UK +44 (0) 20 7611 8985
About Stolt-Nielsen Limited
Stolt-Nielsen Limited (SNL or the "Company") is a leading global provider of integrated transportation solutions for bulk liquid chemicals, edible oils, acids, and other specialty liquids through its three largest business divisions, Stolt Tankers, Stolthaven Terminals and Stolt Tank Containers. Stolt Sea Farm produces and markets high quality turbot, sole, sturgeon, and caviar. Stolt-Nielsen Gas transports liquefied petroleum gas (LPG) with its fleet of very large gas carriers (VLGCs). Stolt-Nielsen Limited 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.