Stolt-Nielsen Says Dow Lawsuit Without Merit
Commenting on a lawsuit filed recently by Dow Chemical Co. against four chemical carriers including Stolt-Nielsen S.A., SNSA said that the company believes the Dow Chemical claims are without merit and that it will vigorously defend itself against those claims. The company added that the relationships between its chemical shipping unit - Stolt-Nielsen Transportation Group B.V. - and its customers are governed by contracts that contain arbitration clauses. SNSA said it will move for the courts to compel arbitration as agreed to by customers in their contracts with the company. The other three carriers named in the Dow Chemical suit are Odfjell ASA, Jo Tankers B.V. and Tokyo Marine Co, a unit of Mitsui O.S.K. Line Group.
Kirby Enters Tank Barge Deal With Dow
Kirby Corp. entered into a long-term lease with a subsidiary of The Dow Chemical Co. for 94 inland tank barges. The lease agreement is expected to be marginally additive to Kirby's earnings, the company said. On Jan 31, Kirby projected earnings for 2001 in a range of $1.45 to $1.55. "At the present time, we feel an adjustment to that range is not in order," said Joe Pyne, president and CEO. The barges were acquired by Dow as part of the recent merger between Union Carbide Corp. and Dow. Used to transport bulk liquids, the barges have total capacity of 1,335,000 barrels. - (Reuters)
Coast Guard Environmental Awards
The US Coast Guard announced the winners of the Rear Admiral William M. Benkert Marine Environmental Protection Awards for 2006. In the large business vessels operations category, the winners are Ocean Shipholdings of Houston; Marathon Petroleum Co. of Ashland, Kentucky; and Matson Navigation Co. of Oakland. In the large business facility operator category, the winners are Dow Chemical Co. of Freeport, Texas; BP Cooper River of Wando, South Carolina; Odjfell Terminals of Houston; , and Todd Shipyard of Seattle. In the foreign business vessel operator category, the winner is BP Shipping of the United Kingdom. In the small business vessel operations category, the winner is US Shipping Partners of Edison, New Jersey.
Broere Shipping Wins Dow Deal
Broere Shipping won a contract from Dow Benelux, a unit of U.S. group Dow Chemical Co., to transport 800,000 to 900,000 tons of fluid chemicals per year to various ports in Northwest Europe.
