Stolt-Nielsen Reports Talks with Lenders Continuing

Tuesday, December 16, 2003
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. "SNSA is taking action to improve its liquidity, reduce debt and strengthen its balance sheet." About Stolt-Nielsen S.A. Stolt-Nielsen S.A. is one of the world's leading providers of transportation services for bulk liquid chemicals, edible oils, acids, and other specialty liquids. The Company, through its parcel tanker, tank container, terminal, rail and barge services, provides integrated transportation for its customers. The Company also owns 63.5 percent of Stolt Offshore S.A. (Nasdaq: SOSA; Oslo Stock Exchange: STO), which is a leading offshore contractor to the oil and gas industry. Stolt Offshore specializes in providing technologically sophisticated offshore and subsea engineering, flowline and pipeline lay, construction, inspection, and maintenance services. Stolt Sea Farm, wholly-owned by the Company, produces and markets high quality Atlantic salmon, salmon trout, turbot, halibut, sturgeon, caviar, bluefin tuna, and tilapia.
Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Savannah Port Sets Cargo Record

Port of Savannah set records for both container volumes and total tonnage in May, with the highest tonnage ever recorded in a single month.   The Port of Savannah has handled more than 338,

Multimodal Freight Bill Introduced in US Senate

Cantwell, Booker, Murray, Markey introduce freight investment legislation aiming to eliminate chokepoints at critical highway, rail, port and intermodal facilities to support economic growth,

Crowley Acquires 4,300 Pieces of Liner Equipment

In response to continuing high customer demand, Crowley Maritime Corporation’s liner services group has placed orders for additional equipment, including hundreds

Salvage

Container Ship and LPG Tanker Collide near Surabaya

LPG tanker Navigator Aries (23,333 dwt, built 2008), and containership Leo Perdana (33,423 dwt, built 2007) collided yesterday in waters off Gresik, nearby the Port of Tunjung Perak in Surabaya,

Brand New Ro-Ro Ran Aground in Norway

Ro-ro cargo vessel Kvitbjørn ran aground off Ulsteinvik port, Norway, in the afternoon June 28, while approaching the port.    The vessel, owned by Norway-based Nor Lines,

Barge Captain Gets Prison Time for Fatal Explosion

An Illinois man who was captain of a petroleum barge that exploded in a Chicago canal in 2005, killing a crew member, was sentenced to six months in prison on Friday, prosecutors said.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Port Authority Salvage Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | 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: 0.1717 sec (6 req/sec)