Stolt Nielsen Sa News

Stolt-Nielsen S.A. (Oslo Børs: SNI) said its wholly owned subsidiary Stolt Tankers B.V. received a full refund of $84.5 million plus accrued interest, as part of an early termination agreement with SLS Shipbuilding Co. Ltd. (SLS) of South Korea to cancel newbuilding contracts for two 43,000 dwt stainless steel parcel tankers. The refund was for progress payments made by Stolt Tankers on the two ships, which were ordered in 2006 as part of a series of eight parcel tankers to be built by SLS. Due to extensive delays at the yard it was unlikely that these ships would have been delivered within the terms of the shipbuilding contracts. All…

Stolt-Nielsen S.A. (OsloBørs: SNI) announced that the company's Board of Directors approved the payment of an interim dividend of $0.50 per Common Share on December 9, 2009 to shareholders of record as of November 25, 2009. In accordance with normal settlement practice, the shares will trade ex-dividend on and after November 23, 2009 (two business days prior to the November 25, 2009 record date).

Stolt-Nielsen S.A. (SNSA) (Oslo Børs: SNI) announced that the company through its subsidiary Stolt-Nielsen Gas Ltd. has entered into a time charter of the 1999-built Very Large Gas Carrier (VLGC) Yuhsho. The Yuhsho is owned by Yuyo Steamship Co., Ltd. of Japan, and the period of the time charter is for three years with further options. The ship has a capacity of 78,498 cbm and was built by Mitsubishi Heavy Industries, Ltd. and delivered in February 1999.

Stratos Global Corporation announced it has been selected by Stolt Tankers B.V. to provide a fleetwide, high-speed satellite-based communications network. Stolt Tankers is a subsidiary of Stolt-Nielsen S.A., provider of integrated maritime transportation services.   The Stratos network will serve Stolt’s 75-ship fleet of tanker ships with services that include: Inmarsat B, C and Fleet; and Iridium crew calling. The network is custom-designed for Stolt to help increase the performance and efficiency of a wide variety of business-critical applications, including crew communications to support the recruitment and retention of well-trained seafarers.   (www.stolt-nielsen.com) (www.stratosglobal.com)

Stolt-Nielsen S.A. has reported unaudited results for the second quarter and first half ended May 31, 2009. Highlights for the second quarter of 2009 compared with the first quarter of 2009 included a $13.3 million increase in net profit attributable to shareholders and a $2.3 million increase in operating profit. Operating costs were reduced and revenue stayed consistent. "To counter the negative effects of the economic crisis, we have continued to implement measures to conserve cash, enhance our credit and collections processes, lock in interest rates and reduce costs,” said Niels G. Stolt-Nielsen, Chief Executive Officer of SNSA.

Stolt Tankers B.V., a subsidiary of Stolt-Nielsen S.A. (OsloBørs: SNI), announced that it cancelled a contract with SLS Shipbuilding Co. Ltd. of South Korea for the construction of hull #474, a 44,000 dwt coated parcel tanker, the second in a series of four ships, citing extended delivery delays. On March 30, 2009, Stolt Tankers had entered into arbitration with SLS Shipbuilding Co. Ltd. disputing their claim for force majeure to justify delays on hull #474. The ship was originally scheduled for delivery in September 2008. All progress payments to date are covered by bank refund guarantees. This cancellation follows the cancellation of hull #473, the first ship in the series from SLS Shipyard Co. Ltd., on March 18, 2009.

Stolt-Nielsen S.A. (Oslo Børs: SNI) announced that following the company’s press release on April 23, where it reported that MT Stolt Strength was adrift off the coast of Somalia with limited fuel and without naval protection, the company now reports that the ship has received both supplies and fuel from an American naval vessel. MT Stolt Strength is currently proceeding under her own power to Salalah, Oman, under escort by a Chinese frigate, which will remain in close proximity until they reach port.  Once in Salalah the crew will be relieved and flown home to join their families.

Stolt-Nielsen S.A. (Oslo Børs: SNI) confirmed that MT Stolt Strength, which is on time-charter to Stolt Tankers B.V., was released on April 21 by her Somali captors.  All 23 crew members on board are safe.  The company understands that the crew will shortly be reunited with their families.   The vessel was taken by Somali pirates in the Gulf of Aden on November 10, 2008 while on passage from Dakar to Kandla.

Stolt Tankers B.V., a subsidiary of Stolt-Nielsen S.A. (OsloBørs: SNI), announced on March 18 that it has cancelled a contract with SLS Shipbuilding Co. Ltd. of South Korea for the construction of a 44,000 dwt coated parcel tanker, the first in a series of four ships, citing extended delivery delays.  The ship was originally scheduled for delivery in May 2008.  All progress payments to date are covered by refund guarantees.

Stolt-Nielsen S.A. (Oslo Børs: SNI) today confirmed that M/T Stolt Valor was released on the morning of Nov. 16 by its hijackers, who took control of the ship two months ago. All crew members were unharmed. M/T Stolt Valor, which is on time charter from Japanese owners to Stolt Tankers B.V. was seized whilst transiting the Gulf of Aden on September 15. Since that time the owners worked continuously with the assistance of the relevant authorities and professional negotiators to secure the release of the vessel and the crew members on board. The Company, however, remained deeply concerned with the welfare of the crew members of M/T Stolt Strength, also a time-charter ship, which was hijacked on November 11 and continued to be held by the hijackers in the Gulf of Aden. Stolt Tankers B.V.

Stolt-Nielsen S.A. (SNSA) (Oslo Børs: SNI) said that its wholly owned subsidiary Stolt-Nielsen Indian Ocean and Middle East Service Ltd. ("Stolt") has entered into two 50/50 joint ventures with Gulf Navigation PJSC. The first joint venture, Gulf Stolt Tankers FZCO, will own six new 44,000 dwt coated chemical tankers. The ships will be traded in the Stolt Tankers Joint Service (STJS). Technical ship management will be provided by a second joint venture, Gulf Stolt Ship Management JLT, owned by Gulf Navigation and Stolt. Stolt-Nielsen will take delivery of four of the tankers - ordered in 2006 from SLS Shipbuilding in South Korea - during 2008 and 2009. Gulf Navigation will take delivery of two additional sister ships in 2009, having taken over options previously held by Stolt-Nielsen.

Stolt-Nielsen S.A. (Oslo Børs: SNI) announced that James B. Hurlock has resigned as a Director of the Company, effective immediately. Jacob Stolt-Nielsen, Chairman of Stolt-Nielsen S.A. stated:  "We thank Jim for his service as a Director of the Company since 2004.  We also thank him for his service as interim Chief Executive Officer of Stolt-Nielsen Transportation Group from July 2003 to June 2004.  Jim also served as Chairman of the Legal Affairs Committee of the Board of Directors and in that capacity helped guide the Company through difficult times."

"We are pleased that the European Commission has closed its investigation and that they will not impose any penalties on the Company," said Niels G. Stolt-Nielsen, CEO of Stolt-Nielsen S.A.

Stolt-Nielsen S.A. reported results for the fourth quarter and full year ended November 30, 2007. The financial statements for the full year ended November 30, 2007 have been audited. • Operating revenue for the fourth quarter of $460.8 million, up 14% compared with same quarter last year. Operating revenue for the full year of $1,759.4 million, up 12% compared with the previous year. • Operating income for the fourth quarter of $47.0 million, up 7% compared with fourth quarter of last year. Operating income for the full year of $193.0 million, up 16% compared with the previous year. • Net income for the fourth quarter of $36.3 million…

The Department of Justice issued the following statement regarding whether or not the Department will appeal the decision by the U.S. District Court in Philadelphia dismissing the indictment in U.S. v. Stolt-Nielsen S.A. “The Department of Justice has determined that it will not appeal the dismissal of the indictment in U.S. v. Stolt-Nielsen S.A. et al. While the Division is disappointed with the ruling, it respects the role of the court in making the factual determinations that support the decision that Stolt-Nielsen, two of its subsidiaries, and two executives did not breach the conditional leniency agreement. Since the Antitrust Division revised its Leniency Program in 1993…

Stolt-Nielsen S.A. (Nasdaq: SNSA; Oslo Stock Exchange: SNI) reported results for the third quarter and the nine-month period ended August 31, 2001. Net income for the latest quarter was $29.7 million, or $0.54 per share, on net operating revenue of $735.4 million, compared with a net loss of $0.3 million, or $0.01 per share, on net operating revenue of $607.8 million for the third quarter in 2000. The weighted basic average number of shares outstanding for the third quarter of 2001 was 54.9 million compared to 54.7 million for the same period of 2000. Net income for the nine-month period ended August 31, 2001 was $26.3 million, or $0.48 per share…

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. 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.

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.

Stolt-Nielsen S.A. (SNSA) has elected Hiroshi Ishikawa, Senior Adviser of NYK Line, to its Board of Directors. Ishikawa, who previously served as a Director of SNSA from 1995 to 1997, succeeds Kinichi Hirayama of NYK, who has been appointed to new duties at NYK Group. NYK Line acquired 10 percent ownership of SNSA in 1987.

Stolt-Nielsen S.A. (SNSA) has elected Hiroshi Ishikawa, Senior Adviser of NYK Line, to its Board of Directors. Ishikawa, who previously served as a Director of SNSA from 1995 to 1997, succeeds Kinichi Hirayama of NYK, who has been appointed to new duties at NYK Group. NYK Line acquired 10 percent ownership of SNSA in 1987.

Stolt-Nielsen Transportation Group Ltd., a wholly-owned subsidiary of Stolt-Nielsen S.A., announced it has signed a definitive agreement with Kinder Morgan Energy Partners, L.P. for the sale of its Chicago, Ill., and Perth Amboy, N.J. bulk liquid terminal facilities for $70 million. Closing is subject to standard conditions and the receipt of local regulatory and third party approvals. it is anticipated that the transaction will be completed by the end of SNSA's fiscal year on November 30, 2001. Reginald Lee, Chief Executive Officer of SNTG said, "We are pleased to announce this agreement with Kinder Morgan. network and divestment fits our overall development strategy. parcel tanker operations.

SeaSupplier Ltd. (SeaSupplier), the marine e-procurement subsidiary of Stolt-Nielsen S.A. announced it has been chosen by Ft. Lauderdale, Fla., based Seabulk International to provide its total SeaManager e-procurement solution to Seabulk International's three global divisions: Seabulk Offshore, Seabulk Tankers, and Seabulk Towing . cost and time. Gerhard E. Kurz, President and Chief Executive Officer of Seabulk, commented, "This is a significant step forward in our ongoing efforts to lower costs and improve service and response time to our customers. We have evaluated several e-procurement solutions to streamline our purchasing process and reduce our costs.

Stolt-Nielsen Transportation Group Ltd., a wholly-owned subsidiary of Stolt-Nielsen S.A., Vopak Chemical Tankers B.V. and John T. respective European chemical tanker coastal fleets commencing December 1, 2001 under the name of Vopak Essberger Stolt ChemPool. Stolt-Nielsen Inter European Service (SNIES) and comprises 11 chemical tankers totaling 56,000 dwt. Chemical Tankers B.V. and John T. tankers totaling close to 96,000 dwt. with a total capacity of approximately 150,000 dwt. Germany and Dordrecht, the Netherlands. SNIES will transfer its marketing and operational personnel to Hamburg and Dordrecht.