Stolt-Nielsen enters into three-year time charter of VLGC “Yuhsho”
Stolt-Nielsen S.A. (SNSA) (Oslo Børs: SNI) has announced that the Company through its subsidiary Stolt-Nielsen Gas Ltd. has entered into a time charter of the 1999-built Very Large Gas Carrier (VLGC) Yuhsho.
The Yuhsho is owned by Yuyo Steamship Co., Ltd. of Japan, and the period of the time charter is for three years with further options. The ship has a capacity of 78,498 cbm and was built by Mitsubishi Heavy Industries, Ltd. and delivered in February 1999.
Commenting on the delivery, Mr. Christian Andersen, President of Stolt-Nielsen Gas Ltd., said: “Stolt-Nielsen Gas Ltd. was established in 2007 to explore investments in LPG tankers. Yuhsho is our first venture into the VLGC market. Although current earnings are near historic lows, we believe the longer term supply and demand fundamentals remain attractive.”