M/T Stolt Valor Released by Hijackers

Tuesday, November 18, 2008

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, which is on time charter from Japanese owners to Stolt Tankers B.V. was seized whilst transiting the Gulf of Aden on September 15.  Since that time the owners worked continuously with the assistance of the relevant authorities and professional negotiators to secure the release of the vessel and the crew members on board.
 
The Company, however, remained deeply concerned with the welfare of the crew members of M/T Stolt Strength, also a time-charter ship, which was hijacked on November 11 and continued to be held by the hijackers in the Gulf of Aden.
 
Stolt Tankers B.V. follows all established and recommended procedures designed to support the safe passage of ships in the region.  In addition, the Company is through various membership organizations promoting further action to protect seafarers and trade through the Gulf of Aden.

(www.stolt-nielsen.com)

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