Stolt orders tanker quartet

Stolt-Nielsen Transportation Group has ordered four 44,000 DWT product tankers from SLS Shipbuilding in Korea. The aggregate price for the four ships is expected to be approximately $340 million with deliveries scheduled to take place between mid 2010 and early 2011.

The SLS newbuildings will have a combination of 24 stainless steel tanks and 15 coated tanks. The main dimensions of the ships will follow the design of the four parcel tankers that SNTG announced ordering in June 2005 from ShinA Shipbuilding of South Korea, which was acquired by SLS earlier this year. SNTG will have options from SLS for an additional four ships.

The new fully double-hulled parcel tankers will meet both Marpol Annex I and Annex II cargo requirements and, with ship IMO ship type I, II, and III capabilities, will be able to handle the full range of difficult to handle cargoes which SNTG carries.

Otto H. Fritzner, Chief Executive Officer of SNTG, said, `This new order with SLS represents a continuation of SNTG`s successful partnership with the yard and is part of our ongoing fleet replacement plan, which is aimed at ensuring that we are fully equipped with sophisticated ships to meet our customers` requirements for the growing global market for the transportation of specialty liquids.