Stolt-Nielsen Orders Four Parcel Tankers

Friday, June 10, 2005
Stolt-Nielsen Transportation Group (SNTG), a subsidiary of Stolt-Nielsen S.A., announced that it has signed an agreement with ShinA Shipbuilding Co. Ltd. of South Korea for four 44,000 deadweight ton (dwt) parcel tankers, with delivery scheduled to begin in the second quarter of 2008. The aggregate price for the four ships is expected to be just under $230 million. Each ship will be equipped with 29 fully coated tanks and will be built to IMO 2 specifications, providing the additional segregations and cleaning capacity required to transport vegetable oils and chemicals. The ships have higher deadweight capacity than those built by SNTG in its last round of newbuildings in the late 1990s, complementing SNTG's current high-end all stainless steel fleet. The ships will replace tonnage currently scheduled for withdrawal from SNTG's fleet. SNTG's purchase decision followed a rigorous analysis of its tonnage- replacement requirements, global economic factors, and the outlook for the chemical tanker market. The selection of ShinA followed a thorough review of potential quality shipyards worldwide. Otto H. Fritzner, Chief Executive Officer of SNTG, said, "The purchase of these ships is an important component of SNTG's overall fleet replacement strategy. We are committed to ensuring that SNTG has the right size and quality fleet to reliably and efficiently meet the supply-chain needs of our valued customers worldwide, while also enabling us to capitalize on the strong growth opportunities in our markets. Given the tight shipbuilding market, we were pleased with ShinA's delivery schedule, the earliest currently available in today's market for this type of ship." "The addition of ships with this profile gives SNTG increased capacity in two of our key markets-specialty chemicals and veg oils-and also provides trading flexibility in other expanding markets, such as commodity chemicals," Fritzner added.
Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Maritime Training Five Years from Now: A Look Ahead

For anyone involved in maritime training, now is an incredibly exciting time full of opportunity. More than ever before, there are new advanced techniques and technologies

Imtech Marine USA and Radio Holland ‘Reloaded’

Fergus Campbell recently took the top spot at Imtech Marine USA. He discusses the path forward, particularly the desire to expand the ubiquitous Radio Holland brand.

Russia May Allow More Firms to Offshore Oil

Russia may allow more oil companies to access its offshore projects, Energy Minister Alexander Novak said on Friday.   "In general, the access can be extended," Novak told reporters in Moscow.

Tanker Trends

Helios LPG Pool to Start Operating

Dorian LPG Ltd. today announced the commencement of operations of Helios LPG Pool LLC on April 1st, 2015.  Helios LPG is jointly run by Dorian LPG and Phoenix Tankers Pte.

Stolt-Nielsen Completes Bond Issues

Stolt-Nielsen Limited announced the placement of senior unsecured bonds in a total amount of NOK 1,100 million in a new five-year bond issue carrying a coupon of 3M NIBOR plus 4.

Icebreaker Murmansk Launched at Arctech Helsinki Shipyard

The 16 MW Icebreaker for the Russian Ministry of Transport was launched at Arctech Helsinki Shipyard on March 25th, 2015. Before floating the vessel, she was

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1965 sec (5 req/sec)