LONDON, February 15, 2011 - Stolt-Nielsen Limited (Oslo Boers: SNI) would like to comment on the article in today's copy of Dagens Næringsliv on the subject of piracy.
Stolt-Nielsen Limited ("SNL") would like to emphasise that the comments contained within the article are Mr. Jacob Stolt-Nielsen's own personal opinion.
SNL will first and foremost do what it takes to protect our crews and, in so doing, our ships and the cargoes of our customers.
SNL supports outside government intervention to stabilise Somalia, as shipping industry organisations have been urging for some time. Anarchy on land enables anarchy at sea. It is unrealistic to expect an end to piracy without establishing some form of government order in Somalia. Furthermore, the company fully supports industry calls on governments for more - and broader - naval protection. The piracy situation is not improving, it is escalating. Governments collectively need to step up to the challenge by taking action now and not wait and hope that the problem will disappear.
In view of the current crisis in the Indian Ocean with over 700 seafarers being held hostage and most recently a seafarer being executed, ship operators must be able to retain all possible options available to deter attacks and defend their crews against piracy. When the company has no alternative it will continue the use of armed guards, which has proved to be effective as a deterrent.
It should be stressed that the Risk Assessment and Mitigation Measures deployed by SNL have been shared fully with flags, insurers and major customers - and that we are in full compliance with all of their requirements.
Contacts:
Jan Chr. Engelhardtsen
Chief Financial Officer
UK +44 (0) 20 7611 8972
j.engelhardtsen@stolt.com
Jens F. Grüner-Hegge
V.P. Corporate Finance
UK +44 (0) 20 7611 8985
j.gruner-hegge@stolt.com
About Stolt-Nielsen Limited
Stolt-Nielsen Limited (SNL or the "Company") is a leading global provider of integrated transportation solutions for bulk liquid chemicals, edible oils, acids, and other specialty liquids through its three largest business divisions, Stolt Tankers, Stolthaven Terminals and Stolt Tank Containers. Stolt Sea Farm produces and markets high quality turbot, sole, sturgeon, and caviar. Stolt-Nielsen Gas transports liquefied petroleum gas (LPG) with its fleet of very large gas carriers (VLGCs). Stolt-Nielsen Limited is listed on the Oslo Stock Exchange.
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Source: Stolt-Nielsen Limited via Thomson Reuters ONE
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