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Stolt-Nielsen S.A.: Stolt Tankers B.V. Enters into Arbitration on Cancellation of Newbuilding Contract
LONDON--(Marketwire - March 27, 2009) -
London, England - March 27, 2009 - Stolt Tankers B.V., a subsidiary of Stolt-Nielsen S.A. (OsloBørs: SNI), today announced that SLS Shipbuilding Co. Ltd. of South Korea has taken Stolt Tankers B.V. to arbitration to challenge the cancellation of a contract for the construction of a 44,000 dwt coated parcel tanker, the first in a series of four ships, announced on March 18, 2009. The ship was originally scheduled for delivery in May 2008. The ruling by the arbitration panel will follow English law.
About Stolt-Nielsen S.A. Stolt-Nielsen S.A. (SNSA or the "Company") is one of the world's leading providers of transportation services for bulk liquid chemicals, edible oils, acids, and other specialty liquids. The Company, through the parcel tanker, tank container, terminal, rail and barge services of its wholly owned subsidiary Stolt Tankers & Terminals and Stolt Tank Containers, provides integrated transportation solutions for its customers. Stolt Sea Farm, wholly owned by the Company, produces and markets high quality turbot, sole, sturgeon, and caviar. Stolt-Nielsen is currently listed on the Oslo Stock Exchange.
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