Stolt Tankers Orders Five Parcel Tankers

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November 27, 2012

Norway’s Stolt-Nielsen (Oslo Børs: SNI) announced Tuesday that its subsidiary Stolt Tankers has ordered five 38,000 dwt parcel tankers from Hudong-Zhonghua Shipbuilding in China with the option to order three more.

Stolt-Nielsen says that the stainless steel parcel tankers were designed to deliver substantial improvements in fuel efficiency and provide operational flexibility with their fully stainless steel cargo tanks, cargo pumps, heating and cooling capacity.

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 and 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 are expected to be delivered starting in 2015 and will replace five 1986-built parcel tankers scheduled for recycling in 2016.

Stolt Tankers and its partners own and operate globally 150 ships ranging in size from 1,100 dwt to 44,000 dwt.


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