Avance Gas Holding Ltd. Acquires Two VLGCs
(Thomson Reuters ONE) -
LONDON, June 7, 2012 - Stolt-Nielsen Limited(Oslo Børs: SNI) announced today
that Avance Gas Holding Ltd. (AGHL), a company owned equally by Sungas Holdings
Ltd. and Stolt-Nielsen Gas Ltd., has agreed to acquire two VLGCs-Maran Gas
Knossos and Maran Gas Vergina-from Maran Gas Maritime Inc. The ships are
expected to join Avance Gas Limited's (AGL) fleet by the end of August 2012,
increasing the size of the fleet to seven VLGCs.
Commenting on the transaction, Mr. Niels G. Stolt-Nielsen, Chief Executive
Officer of
Stolt-Nielsen Limited, said: "Avance Gas remains focused on its goal of
establishing itself as a significant player in the LPG transportation market,
where the growth outlook continues to strengthen. These new ships move the
company closer to its targeted fleet size, which the company believes will give
increased access to spot and contract business with the world's major shippers
of LPG."
The Avance Gas fleet trades mainly in the spot market, loading in the Middle
East for destinations primarily in Asia.
Contacts:
Jan Chr. Engelhardtsen
Chief Financial Officer
UK +44 (0) 20 7611 8972
j.engelhardtsen(at)stolt.com
Jens F. Grüner-Hegge
VP Corporate Finance
UK +44 (0) 20 7611 8985
j.gruner-hegge(at)stolt.com
About Stolt-Nielsen Limited
Stolt-Nielsen Limited (SNL or the "Company") is a leading global provider of
integrated transportation solutions for bulk liquid chemicals, edible oils,
acids, and other specialty liquids through its three largest business divisions,
Stolt Tankers, Stolthaven Terminals and Stolt Tank Containers. Stolt Sea Farm
produces and markets high quality turbot, sole, sturgeon, and caviar. Stolt-
Nielsen Gas transports liquefied petroleum gas (LPG) with its fleet of very
large gas carriers (VLGCs). Stolt-Nielsen Limited is listed on the Oslo Stock
Exchange.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Stolt-Nielsen Limited via Thomson Reuters ONE
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