• DATVF.ATLPHL
    1.814
    0.044
    2.5%
  • DATVF.CHIATL
    2.034
    0.018
    0.9%
  • DATVF.DALLAX
    0.921
    0.071
    8.4%
  • DATVF.LAXDAL
    1.502
    -0.092
    -5.8%
  • DATVF.SEALAX
    0.962
    -0.053
    -5.2%
  • DATVF.PHLCHI
    1.091
    -0.038
    -3.4%
  • DATVF.LAXSEA
    2.146
    -0.004
    -0.2%
  • DATVF.VEU
    1.647
    0.009
    0.5%
  • DATVF.VNU
    1.471
    -0.010
    -0.7%
  • DATVF.VSU
    1.211
    -0.011
    -0.9%
  • DATVF.VWU
    1.554
    -0.028
    -1.8%
  • ITVI.USA
    9,682.710
    -15.240
    -0.2%
  • OTRI.USA
    7.700
    -0.010
    -0.1%
  • OTVI.USA
    9,671.310
    -19.300
    -0.2%
  • TLT.USA
    2.730
    0.010
    0.4%
  • WAIT.USA
    156.000
    -2.000
    -1.3%
  • DATVF.ATLPHL
    1.814
    0.044
    2.5%
  • DATVF.CHIATL
    2.034
    0.018
    0.9%
  • DATVF.DALLAX
    0.921
    0.071
    8.4%
  • DATVF.LAXDAL
    1.502
    -0.092
    -5.8%
  • DATVF.SEALAX
    0.962
    -0.053
    -5.2%
  • DATVF.PHLCHI
    1.091
    -0.038
    -3.4%
  • DATVF.LAXSEA
    2.146
    -0.004
    -0.2%
  • DATVF.VEU
    1.647
    0.009
    0.5%
  • DATVF.VNU
    1.471
    -0.010
    -0.7%
  • DATVF.VSU
    1.211
    -0.011
    -0.9%
  • DATVF.VWU
    1.554
    -0.028
    -1.8%
  • ITVI.USA
    9,682.710
    -15.240
    -0.2%
  • OTRI.USA
    7.700
    -0.010
    -0.1%
  • OTVI.USA
    9,671.310
    -19.300
    -0.2%
  • TLT.USA
    2.730
    0.010
    0.4%
  • WAIT.USA
    156.000
    -2.000
    -1.3%
American Shipper

Stolt Nielsen in joint venture with Dubai firm

Stolt Nielsen in joint venture with Dubai firm

Chemical transportation specialist Stolt-Nielsen S.A. said it has entered into two 50-50 joint ventures with Gulf Navigation, a United Arab Emirates company based in Dubai.

   The first joint venture, Gulf Stolt Tankers FZCO, will own six new 44,000-deadweight-ton coated chemical tankers. The ships will be traded in the Stolt Tankers Joint Service. Technical ship management will be provided by a second joint venture, Gulf Stolt Ship Management JLT, owned by Gulf Navigation and Stolt.

   Stolt-Nielsen will take delivery of four of the tankers — ordered in 2006 from SLS Shipbuilding in South Korea — during 2008 and 2009. Gulf Navigation will take delivery of two additional sister ships in 2009, having taken over options previously held by Stolt-Nielsen. In addition, one of the four Stolt-Nielsen ships will be sold to Gulf Navigation, which will bareboat charter its three ships to the joint venture to create the 50-50 joint venture comprising the six ships.

   “The Arabian Gulf is the world’s fastest growing chemicals-production center. We are pleased to be expanding Stolt’s strategic presence in this key growth market,” said Hans P. Feringa, president of Stolt Tankers & Terminals.

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