February 08, 2024 [Stolt Nielsen]- Stolt-Nielsen Limited (Oslo Børs: SNI) announced today that its Joint Venture between NYK Line and Stolt Tankers (NYK Stolt Tankers, or ‘NST’) has reached an agreement with Nantong Xiangyu Shipyard in China to build six 38,000 deadweight tonne stainless steel chemical tankers for delivery between late 2026 and 2029.
These vessels are sisterships to Stolt Tankers’ order of six ships from Wuhu Shipyard announced in November. The ships feature 30 cargo tanks, offering a range of cargo flexibility and are designed to maximise fuel efficiency using a wide range of energy savings devices and shore power connection. They can also be retrofitted for battery and methanol propulsion, supporting Stolt Tankers’ commitment to the energy transition.
This order reflects our strategy to maintain scale of our core 38,000 deadweight tonne fleet by adding newbuildings not otherwise available in the second-hand market in a capital efficient way through our NST joint venture.” Udo Lange, Chief Executive Officer, Stolt-Nielsen Limited.
Commenting on the transaction, Udo Lange, Chief Executive Officer, Stolt-Nielsen Limited said: “I’m pleased to announce this order for six 38,000 deadweight tonne chemical tankers with our long-standing joint venture partners NYK Line. These newbuildings will replace ships retiring from our fleet from 2026, ensuring our customers continue to enjoy the flexibility and service quality Stolt Tankers is known for.
“This order reflects our strategy to maintain scale of our core 38,000 deadweight tonne fleet by adding newbuildings not otherwise available in the second-hand market in a capital efficient way through our NST joint venture. I would like to thank and congratulate the team at Stolt Tankers, our partners at NYK Line and the Nantong Xiangyu Shipyard for completing this important transaction.”
Hironobu Watanabe, NYK Line Managing Executive Officer and Chief Executive of the company’s Energy Division, added: “I am pleased to have reached this newbuilding order with Stolt Tankers, our long-time partner for over 30 years. By replacing the vessels with ones that are more fuel-efficient, we can provide stable transportation services to our customers while promoting an energy transition. The cooperation of concerned parties for the completion of vessels is needed, and I am confident that the teams of Stolt Tankers, NYK, and Nantong Xiangyu Shipyard will be able to accomplish this task.”
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