Avance Gas Holding Ltd. Acquires Two VLGCs
LONDON, June 7, 2012 - Stolt-Nielsen Limited(Oslo B?rs: SNI) announced today that Avance Gas Holding Ltd. (AGHL), a company owned equally by Sungas Holdings Ltd. and Stolt-Nielsen Gas Ltd., has agreed to acquire two VLGCs-Maran Gas Knossos and Maran Gas Vergina-from Maran Gas Maritime Inc. The ships are expected to join Avance Gas Limited's (AGL) fleet by the end of August 2012, increasing the size of the fleet to seven VLGCs.
Commenting on the transaction, Mr. Niels G. Stolt-Nielsen, Chief Executive Officer of
Stolt-Nielsen Limited, said: "Avance Gas remains focused on its goal of establishing itself as a significant player in the LPG transportation market, where the growth outlook continues to strengthen. These new ships move the company closer to its targeted fleet size, which the company believes will give increased access to spot and contract business with the world's major shippers of LPG."
The Avance Gas fleet trades mainly in the spot market, loading in the Middle East for destinations primarily in Asia.
Jan Chr. Engelhardtsen
Chief Financial Officer
UK +44 (0) 20 7611 8972
Jens F. Gr?ner-Hegge
VP 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 information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.