Stolt-Nielsen S.A. Resolves Dispute with Noteholders

Wednesday, June 16, 2004
Stolt-Nielsen S.A announced that the company had resolved its dispute with its senior noteholders regarding defaults asserted by the noteholders. "We are pleased that the noteholders have agreed to waive their claims of default and to modify some loan covenants to permit the Company to make certain investments in joint ventures," said Niels G. Stolt-Nielsen, Chief Executive Officer of SNSA. "In return, the Company has agreed to provide the noteholders with certain security, which can be released if the Company obtains an investment grade rating on its senior notes and under certain other circumstances. SNSA can now focus on its businesses and capitalize on the improving parcel tanker market worldwide."

The Company expects to file its Annual Report on Form 20-F on June 16, 2004.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Sellick Equipment to Open New Facility

On April, 20, 2016, at the young age of 97 years, Walter Sellick along with sons Howard Sellick - President, David Sellick - Vice President and grandson Colin Sellick - Systems Manager,

Asia Tankers-VLCCs Rates Ease as Tanker Jams Fade

Port congestion eases at Basra and Chinese ports; tanker demand set to expand on lower oil prices. Freight rates for very large crude carriers (VLCCs), hurt by slower-than-usual release of cargo,

EU Clears CMA CGM, NOL Merger, with Conditions

The European Commission said on Friday it had cleared French shipping group CMA CGM's $2.4 billion takeover of Neptune Orient Lines on condition that NOL pulls out from a rival shipping alliance.

Finance

Oil Rally is Not Just About Hedge Funds: Kemp

Oil prices are becoming dangerously overheated as speculators anticipate a rebalancing of supply and demand that has barely started, according to many oil analysts.

SCHOTTEL Debuts EcoPeller with High-torque Gears

Propulsion and steering systems manufacturer SCHOTTEL has unveiled its new EcoPeller (SRE), which it said offers improved efficiency and robustness. Playing a

Asia Tankers-VLCCs Rates Ease as Tanker Jams Fade

Port congestion eases at Basra and Chinese ports; tanker demand set to expand on lower oil prices. Freight rates for very large crude carriers (VLCCs), hurt by slower-than-usual release of cargo,

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
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: 0.0936 sec (11 req/sec)