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September 20, 2010

Stolt-Nielsen Receives $211m Refund

Stolt-Nielsen has received a $211m refund with interest for six terminated newbuilds with SLS Shipbuilding due to a delay in delivery. The company said it received the payment as part of its 2006-07 newbuilding programme for the construction of eight parcel tankers. Stolt-Nie

By cms admin

Stolt-Nielsen has received a $211m refund with interest for six terminated newbuilds with SLS Shipbuilding due to a delay in delivery.

The company said it received the payment as part of its 2006-07 newbuilding programme for the construction of eight parcel tankers.

Stolt-Nielsen had earlier received $84m and interest for two other ships in the series, bringing the total refund to $295.8m plus interest.

Stolt-Nielsen is planning to use the fund to repay loans for the shipbuilding programmes and general corporate purposes.

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