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

People & Company News

Madsen to Chair Norway’s Research Council Executive Board

Henrik O. Madsen appointed chairman of the executive board of the Research Council of Norway   DNV GL president and CEO Henrik O. Madsen was appointed as chairman

Port of Houston Expecting Record Year

The Port of Houston Authority is expecting 2014 to close as a banner year for the port, with 34 million tons of cargo handled through November, Executive Director

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

Finance

Larger Tankers May Offer Better Return Chances

Investors looking for returns in the tanker markets can invest their capital in a variety of ways. Should an owner invest in a VLCC or an Aframax? How about an

US Plans to Shut Royalty Loophole on Coal Exports

U.S. coal companies will no longer be able to settle royalties at low domestic prices when they make lucrative sales to Asia according to reforms proposed by the Interior Department on Friday.

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
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: 0.1635 sec (6 req/sec)