SNTG exercises options

Stolt-Nielsen Transportation Group (SNTG), the wholly-owned subsidiary of Stolt Nielsen, has entered a strategic partnership with Gulf Navigation of Dubai, UAE. Under the terms of the partnership, Gulf Navigation will acquire two 44,000 dwt parcel tankers from ShinA Shipbuilding of South Korea, under options formerly held by SNTG. Upon entering service in mid-2009, the ships will join the Stolt Tanker Joint Service (STJS) pool.

SNTG currently has four 44,000 dwt parcel tankers on order from ShinA Shipbuilding, due for delivery in 2008, plus options on two more ships, in addition to the options transferred to Gulf Navigation.