Stolt Tankers B.V., a subsidiary of Stolt-Nielsen Limited (Oslo Børs: SNI), has announced that it has reached an agreement with Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. (Hudong-Zhonghua) and China Shipbuilding Trading Co. Ltd, (CSTC), under China Shipbuilding Group Corporation (CSSC), for five plus three options 38,000 deadweight ton (dwt) stainless steel parcel tankers, with deliveries expected to take place from December 2015 onwards.
The agreement is subject to satisfactory financing being obtained.
The ships were designed to deliver substantial improvements in fuel efficiency, while providing operational flexibility with their fully stainless steel cargo tanks, cargo pumps, heating and cooling capacity. With a relatively shallow draft when fully loaded, the ships are expected to consume significantly less fuel compared with existing parcel tankers.
Niels G. Stolt-Nielsen, Chief Executive Officer of Stolt-Nielsen Limited, said, "This new generation of parcel tankers gives us both improved energy efficiency and the cargo handling flexibility that our contract of affreightment customers require. The order represents approximately half of our required replacement tonnage through 2016, given Stolt Tankers' present contract portfolio."
Each of the ships will have 43 stainless steel tanks with a total volume of 44,000 cubic meters. The parcel tankers will meet both Marpol Annex I and Annex II cargo requirements, complying with common structural rules for oil tankers. The ships will have IMO I, II and III capabilities and will be able to handle the full range of difficult-to-handle cargoes that Stolt Tankers carries.
The new ships will replace five 1986-built parcel tankers scheduled for recycling in 2016.