Stolt-Nielsen Transportation Group (SNTG), a subsidiary of Stolt-Nielsen S.A. (NasdaqNM: SNSA; Oslo Stock Exchange: SNI), announced today that it has signed an agreement with SLS Shipbuilding Co. Ltd. for four 44,000 deadweight ton (dwt) parcel tankers. The aggregate price for the four ships is expected to be approximately $340 million, with deliveries scheduled to take place between mid 2010 and early 2011.
The SLS newbuildings will have a combination of 24 stainless steel tanks and 15 coated tanks. The main dimensions of the ships will follow the design of the four parcel tankers that SNTG announced ordering in June 2005 from ShinA Shipbuilding Co. Ltd. of South Korea, which was acquired by SLS earlier this year. SNTG will have options from SLS for an additional four ships.