Fire Contained on MT Stolt Valor
LONDON, March 21, 2012 - Stolt Tankers B.V., a subsidiary of Stolt-Nielsen Limited (Oslo B?rs: SNI) and owner and operator of MT Stolt Valor, reported today that the fire on the ship has been contained. One crew member is still missing.
The ship is under tow approximately 45 miles off the coast of Qatar. There has been no spillage of fuel oil from the ship, nor any reported or visible spillage of cargo. Stolt Tankers continues to work in close cooperation with the authorities, salvage experts and insurers to salvage the ship and its cargoes and to avoid any environmental impact.
Full investigations into the cause of the accident are being conducted by the flag state and the Company.
MT Stolt Valor is a 2004-built chemical tanker of 25,268 dwt. The ship has been declared a constructive total loss for insurance purposes. The Company has insurance coverage in place customary for the trade and is fully covered.
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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.