Stolt-Nielsen Limited
oslo : SNI

August 30, 2012 05:24 ET

Stolt-Nielsen Limited : Stolthaven New Orleans Flooded following Hurricane Isaac Landfall

LONDON--(Marketwire - Aug 30, 2012) - Stolt-Nielsen Limited (Oslo Børs: SNI) announced today that hurricane Isaac made landfall in southern Louisiana in the early hours of August 29, 2012 as a category 1 hurricane. The hurricane has caused serious flooding at our Stolthaven New Orleans terminal located at Braithwaite resulting from failure of the levee surge protection system with parts of the terminal being under as much as seven feet of water. All personnel on-site are reported to be safe, and we have currently no reports of any environmental issues or failure of product containment systems.

Prior to landfall of the hurricane the terminal was shut down according to the company's existing emergency procedures to reduce the chance of damage to the terminal and possible resulting environmental impact. The Company's incident command system has been initiated and we are monitoring the situation and respond to immediate needs. Our customers have been advised of the Force Majeure event. An assessment of any damage sustained will be performed once the weather conditions improve and the water levels recede. The terminal will remain shut down until it is again deemed safe to resume operations.

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, through its investment in Avance Gas Holdings Ltd., transports liquefied petroleum gas (LPG) with a 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

[HUG#1637329]

Contact Information

  • For additional information please contact:

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

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