Stolt Offshore S.A. received contract awards and Letters of Intent totaling approximately $120 million from various customers operating in the North Sea. In the UK sector of the North Sea, BP has awarded Stolt Offshore two contracts totalling $12.4 million for construction and installation of the gas import/export system for Clair Phase 1 and the tie-in of the Clair oil export and gas import/export pipeline systems. BP has also awarded Stolt Offshore a contract, valued at approximately $19.3 million, for the design and construction of an 18-inch hot-tap into the 36-inch BP Forties Pipeline System. Stolt Offshore has been issued with a Letter of Intent for the engineering, procurement, installation and commissioning of a 29km 12-inch pipeline system, in the Southern sector of the North Sea. This work is valued at approximately $31.4 million. A Letter of Intent has also been received from Paladin for the installation of a new 10-inch, 8.5km water injection line between the Montrose and Arbroath platforms in the UKCS. This work is valued at $9.3 million. The German oil company Wintershall Noordzee BV has awarded Stolt Offshore a $12.5 million contract for the installation of the 8-inch, 13.5km pipeline and a services umbilical between the Q5-A subsea completion and the platform at Q8-B in the Dutch sector of the North Sea.
Stolt-Nielsen S.A. will release its second quarter results on Thursday, July 10th, 2003. A conference call will be held to discuss the earnings and review of business operations on Thursday, July 10th, 2003. The date for release of second quarter 2003 results has been delayed to permit Stolt Offshore S.A., a subsidiary of Stolt-Nielsen S.A., to discuss the major items of the Stolt Offshore S.A. Blueprint for financial recovery during Stolt Offshore S.A. investor conference call.
Stuart Jackson has been appointed as Chief Financial Officer for Stolt Offshore. He will start with the company on April 22, 2003. Stuart Jackson is a graduate Chartered Management Accountant with 19 years energy sector experience including 11 years in the oil and gas industry. He joined Marathon Oil in London in 1983 as a financial analyst before moving to LASMO in 1985 where he held various financial management positions in London, the Far East and North
Stolt Offshore S.A. signed a letter of intent to acquire a majority ownership of Paragon Engineering Services Inc. (PES) of Houston from Kenneth Arnold, the current controlling shareholder. A new holding company, Paragon Engineering Services International (PESI), will be established which will operate from the existing PES office in Houston and through a new company, Paragon Europe (PE), in Paris. This represents an investment by Stolt Offshore of approximately $13 million
Stolt Offshore S.A. announced unaudited results for the second quarter and six months ended on May 31, 2004. Tom Ehret, Chief Executive Officer, Stolt Offshore S.A., said: "Stolt Offshore's turnaround is now well advanced. The Group now has the financial resources to compete effectively in its chosen markets thanks to a much improved balance between equity and debt. Furthermore, 45 project wins, with a total value of $1
Stolt Offshore S.A. will release its fourth quarter and full year 2003 results on Wednesday February 18, 2004. A conference call will be held to discuss the earnings and review business operations on Wednesday, February 18, 2004 at 2.00pm GMT.
Stolt-Nielsen has announced organizational and management changes at the company's Transportation Group. Jacob Stolt-Nielsen, Chairman of Stolt-Nielsen S.A. (SNSA), said: "The actions we are announcing today are aimed at putting the focus on the future of the business and reflect our plans for ensuring the long-term success of the Stolt-Nielsen Transportation Group, an outstanding company composed of excellent people."
The Shipping Index at the Oslo Stock Exchange performed well in the quite summer month of July, rising 2.7 percent, and thus again lifting the maritime sector of shipping, offshore and cruise shares above the levels of year-end 1999. Within the sector, 29 shares rose during the month, while only 12 decreased in market value. Among the offshore stocks, Nortrans Offshore (NOL) were again strong, as in May, after a 10 percent fall in June
Stolt-Nielsen S.A. ( said that while the waivers of covenant defaults granted by its primary lenders expired today, the Company and its lenders remain in constructive discussions aimed at establishing longer-term waivers. "We continue to work closely with our primary lenders toward longer-term waivers that will give us the necessary time to allow us to develop a sensible financial restructuring plan," said Niels G. Stolt-Nielsen, Chief Executive Officer of SNSA
Farstad Shipping ASA, in co-operation with Stolt Offshore AS, has received a Letter of Intent from Norsk Hydro for a 5 year charter, plus 3 yearly options, for the newbuilding Far Saga, which was deliverd from Simek AS on 31st of October. The vessel, a large platform supply vessel (PSV) of design UT 745 L, will be a part of Stolf Offshore AS' contract with Norsk Hydro for underwater services. Far Saga will operate in a PSV role for Norsk Hydro until necessary outfitting and mobilization for
Bahrain-based Ship Repair Yard Invests $188m in facilities; Expands offshore operations Bahrain’s Arab Shipbuilding & Repair Yard (ASRY) has come a long way since starting operations towards the end of 1977, as the Arabian Gulf’s first VLCC repair yard
Stolt-Nielsen Limited reported unaudited results for the first quarter ended February 28, 2013. Net profit attributable to SNL shareholders in the first quarter was $1.5 million, with revenue of $519.4 million, compared with $18.2 million, with revenue of $510
Flexlife, the subsea flexible pipes specialist, has strengthened its management organization with two senior appointments. Simon Hounsome joins Flexlife’s Aberdeen headquarters as integrity and projects director, responsible for the policy
Stolt-Nielsen Limited says it will pay an interim dividend of $0.50 per Common Share on December 11, 2013 to shareholders of record as of November 26, 2013. In accordance with normal settlement practice, the shares will trade ex-dividend on and after November 22
Stolt Offshore S.A. confirmed that the US Department of Justice has cleared the sale of the shallow water assets that form part of its North America and Mexico (NAMEX) business to Cal Dive. Stolt Offshore is now undertaking pre-close formalities and completion accounts with Cal Dive after which
Stolt Offshore has been awarded a new contract by Petrobras for a firm period of six years for deepwater flexible pipelay offshore Brazil. The contract which will commence in January 2007 and is valued at approximately $250 million, will be undertaken by the CS Pertinacia which will be on
Stolt-Nielsen S.A. announced organizational changes. The changes take effect December 2007 and include the following initiatives: • Stolt-Nielsen Transportation Group will become two separate business units: Stolt Tankers &
Stolt-Nielsen S.A. said that Hans Feringa has been appointed President of Stolt Tankers & Terminals as pf December 1, 2007. Hans Feringa will succeed Otto Fritzner, who will be retiring, as planned, from the Company at the end of the year.
Stolt-Nielsen announced that Hans Feringa has been appointed President of Stolt Tankers & Terminals as of December 1, 2007. Hans Feringa will succeed Otto Fritzner, who will be retiring, as planned, from the Company at the end of the year.
A&P Tyne is celebrating this week after clinching its third contract from Norway in just a matter of weeks. The first contract, which is currently underway in the Hebburn shipyard, involves the refurbishment of the 10,385 grt pipe-laying vessel Seaway Falcon for Stolt Offshore of Stavanger
Stolt-Nielsen S.A. (Oslo Børs: SNI) announced that James B. Hurlock has resigned as a Director of the Company, effective immediately. Jacob Stolt-Nielsen, Chairman of Stolt-Nielsen S.A. stated: "We thank Jim for his service as a Director of the Company since 2004
Stolt-Nielsen S.A. (SNSA) (Oslo Børs: SNI) said that its wholly owned subsidiary Stolt-Nielsen Indian Ocean and Middle East Service Ltd. ("Stolt") has entered into two 50/50 joint ventures with Gulf Navigation PJSC. The first joint venture, Gulf Stolt Tankers FZCO
Stolt-Nielsen S.A. (Oslo Børs: SNI) today confirmed that M/T Stolt Valor was released on the morning of Nov. 16 by its hijackers, who took control of the ship two months ago. All crew members were unharmed. M/T Stolt Valor
Stratos Global Corporation announced it has been selected by Stolt Tankers B.V. to provide a fleetwide, high-speed satellite-based communications network. Stolt Tankers is a subsidiary of Stolt-Nielsen S.A., provider of integrated maritime transportation services.
Stolt-Nielsen reports (unaudited) results for Q2 & first half year 2012 Net profit attributable to shareholders in the second quarter was $37.0 million, with revenue of $538.8 million, compared with $8.0 million and $505.7 million, respectively, in the first quarter of 2012