Stolt Tankers B.V. Cancels Newbuilding Contract
(Thomson Reuters ONE) - London, England - October 19, 2009 - Stolt Tankers B.V., a subsidiaryof Stolt-Nielsen S.A. (OsloBørs: SNI), today announced that it hascancelled a contract with SLS Shipbuilding Co. Ltd. of South Koreafor the construction of hull #475, a 44,000 dwt coated parcel tanker,the third in a series of four ships, citing extended deliverydelays. The ship was originally scheduled for delivery in November2008. All progress payments to date are covered by bank refundguarantees.This cancellation follows the cancellation of hull #473, the firstship in the series from SLS Shipyard Co. Ltd., in March of this year,and hull #474 in June. The yard has challenged our right to cancelthe contracts for hulls #473 and #474, and the parties are now inarbitration. The fourth ship in the series, hull #476, is alsoexperiencing substantial construction delays.Contacts:Jan Chr. EngelhardtsenU.K. +44 (0) 20 7611 8972j.engelhardtsen(at)stolt.comJens F. Gruner-HeggeU.K. +44 (0) 20 7611 8985j.gruner-hegge(at)stolt.comAbout Stolt-Nielsen S.A.Stolt-Nielsen S.A. (SNSA or the "Company") is one of the world'sleading providers of transportation services for bulk liquidchemicals, edible oils, acids, and other specialty liquids. TheCompany, through the parcel tanker, tank container, terminal, railand barge services of its wholly owned subsidiary Stolt Tankers &Terminals and Stolt Tank Containers, provides integratedtransportation solutions for its customers. Stolt Sea Farm, whollyowned by the Company, produces and markets high quality turbot, sole,sturgeon, and caviar. Stolt-Nielsen is listed on the Oslo StockExchange.This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 19.10.2009 - 14:50 Uhr
Sprache: Deutsch
News-ID 7071
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