LONDON--(Marketwire - Jun 7, 2012) -
Stolt-Nielsen Limited(Oslo Børs: SNI) announced today
that Avance Gas Holding Ltd. (AGHL), a company owned equally by Sungas
Holdings
Ltd. and Stolt-Nielsen Gas Ltd., has agreed to acquire two
VLGCs-Maran Gas
Knossos and Maran Gas Vergina-from Maran Gas Maritime Inc. The
ships are
expected to join Avance Gas Limited's (AGL) fleet by the end of August
2012,
increasing the size of the fleet to seven VLGCs.
Commenting on the transaction, Mr. Niels G. Stolt-Nielsen, Chief
Executive
Officer of
Stolt-Nielsen Limited, said: "Avance Gas remains focused on its
goal of
establishing itself as a significant player in the LPG transportation
market,
where the growth outlook continues to strengthen. These new ships
move the
company closer to its targeted fleet size, which the company believes will
give
increased access to spot and contract business with the world's major
shippers
of LPG."
The Avance Gas fleet trades mainly in the spot market, loading in the
Middle
East for destinations primarily in Asia.
About Stolt-Nielsen Limited
Stolt-Nielsen Limited (SNL or the "Company") is a leading global provider
of
integrated transportation solutions for bulk liquid chemicals, edible oils,
acids, and other specialty liquids through its three largest business
divisions,
Stolt Tankers, Stolthaven Terminals and Stolt Tank Containers. Stolt Sea
Farm
produces and markets high quality turbot, sole, sturgeon, and caviar.
Stolt-Nielsen Gas transports liquefied petroleum gas (LPG) with its fleet
of very
large gas carriers (VLGCs). Stolt-Nielsen Limited is listed on the Oslo
Stock
Exchange.
This information is subject of the disclosure requirements pursuant to
section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Stolt-Nielsen Limited via Thomson Reuters ONE
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