Stolt-Nielsen Limited
oslo : SNI

June 07, 2012 10:56 ET

Avance Gas Holding Ltd. Acquires Two VLGCs

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:

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(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Stolt-Nielsen Limited via Thomson Reuters ONE [HUG#1618135]

Contact Information

  • Contacts:

    Jan Chr. Engelhardtsen
    Chief Financial Officer
    UK +44 (0) 20 7611 8972
    Email Contact

    Jens F. Gruner-Hegge
    VP Corporate Finance
    UK +44 (0) 20 7611 8985
    Email Contact