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 July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Euronav Books Profit from Sale of Chartered Ship

The owner of the 157,258 dwt containership Cap Isabella (built 2013), a vessel which Euronav had on bareboat charter, decided to sell the vessel to an unrelated third party.

Livanos Becomes Euronav Chairman

On 22 July 2014, the Board of Directors of Euronav NV unanimously appointed Peter G. Livanos as Chairman of the Board, with immediate effect in replacement of Marc

MN 100: Scania USA Inc.

121 Interpark Blvd. Ste. 1002 San Antonio, Texas 78216 Tel: (210) 679-3126  Email: smurdock@scaniausainc.com Website: www.scaniausa.com President & CEO:

Tanker Trends

Livanos Becomes Euronav Chairman

On 22 July 2014, the Board of Directors of Euronav NV unanimously appointed Peter G. Livanos as Chairman of the Board, with immediate effect in replacement of Marc

MN 100: gplink

1500 Sensation Weigh Beaufort, NC 28516 Tel: (252) 504-2640    Email: dwebb@gplink.com Website: www.gplink.com President & CEO: Greg Poole, III The Company: gplink

Pine Galaxy to Arrive SF Bay Wednesday

The disabled mixed-products tanker Pine Galaxy is expected to arrive in San Francisco Wednesday morning. The ship is being towed by commercial tug to San Francisco Bay.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators 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: 0.1414 sec (7 req/sec)