Stolt-Nielsen order bitumen tankers

Stolt-Nielsen order bitumen tankers    Stolt-Nielsen, best known for its involvement in the parcel tanker and tank container business, said it is entering into a new area — bitumen shipping — and exploring entry into the gas trade.
   Stolt, which has offices in Norwalk, Conn., said it has signed an agreement with Xinshun Shipyard in China for the purchase of up to six new 5,900-deadweight-ton bitumen tankers, due for delivery from February 2010.
   Under terms of the agreement, SNSA has placed firm orders for two ships and holds options to purchase a further four ships.
   The company plans to establish a new division in the Asia-Pacific region that would provide logistical services for the distribution of bitumen. Bitumen is primarily used for paving roads, and is also used for waterproofing and roofing products.
   Niels G. Stolt-Nielsen, chief executive officer, said, “investment in new, superior performance bitumen tankers represents our entry into an attractive sector.”
   The company also said it has formed a subsidiary called Stolt-Nielsen Gas Ltd. “to explore opportunities to enter the liquefied petroleum gas logistics business.”