• ITVI.USA
    14,054.150
    145.300
    1%
  • OTRI.USA
    21.680
    -0.360
    -1.6%
  • OTVI.USA
    14,029.830
    142.650
    1%
  • TLT.USA
    2.640
    0.000
    0%
  • TSTOPVRPM.ATLPHL
    2.540
    0.060
    2.4%
  • TSTOPVRPM.CHIATL
    2.460
    0.270
    12.3%
  • TSTOPVRPM.DALLAX
    1.360
    -0.040
    -2.9%
  • TSTOPVRPM.LAXDAL
    2.910
    0.180
    6.6%
  • TSTOPVRPM.PHLCHI
    1.490
    0.050
    3.5%
  • TSTOPVRPM.LAXSEA
    3.130
    0.260
    9.1%
  • WAIT.USA
    108.000
    5.000
    4.9%
  • ITVI.USA
    14,054.150
    145.300
    1%
  • OTRI.USA
    21.680
    -0.360
    -1.6%
  • OTVI.USA
    14,029.830
    142.650
    1%
  • TLT.USA
    2.640
    0.000
    0%
  • TSTOPVRPM.ATLPHL
    2.540
    0.060
    2.4%
  • TSTOPVRPM.CHIATL
    2.460
    0.270
    12.3%
  • TSTOPVRPM.DALLAX
    1.360
    -0.040
    -2.9%
  • TSTOPVRPM.LAXDAL
    2.910
    0.180
    6.6%
  • TSTOPVRPM.PHLCHI
    1.490
    0.050
    3.5%
  • TSTOPVRPM.LAXSEA
    3.130
    0.260
    9.1%
  • WAIT.USA
    108.000
    5.000
    4.9%
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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