Stolt-Nielsen Orders Six Chemical Parcel Tankers

In December 1995, Stolt-Nielsen SA finalized an agreement with Italian shipyard Industrie Navali Meccaniche Affini (INMA) for the construction of a series of six 5,200-dwt chemical parcel tankers. The first ship is scheduled for delivery in December 1997, and subsequent deliveries will follow in 1998. Upon delivery, the vessels will join Stolt-Nielsen's Inter- European Service (SNIES), which also recently took delivery of four ships built in Japan.

The order was won by INMA against considerable worldwide shipyard competition. According to Stolt Nielsen, the La Spezia, Italybased yard's successful bid was the result of the high technology and quality it offers and considerable previous experience in chemical tanker construction, combined with favorable commercial terms. According to Samuel Cooperman, president of Stolt Parcel Tankers Inc., "Medium-speed diesel electric power plants are the heart of the new ships. This power plant will improve ship operating economy, maneuverability and safety, and give greater cargo-carrying capacity ... Amongst the many other advanced features are the 100 percent duplex stainless steel cargo tanks and innovative double hull design, which provides an effective safety barrier between the cargo, the fuel and the environment." INMA is controlled by the Italian government through the whollyowned subsidiary Societa Gestioni e Partecipazioni Industrali (GEP Group), and has consolidated its presence in the international market through the construction of technically innovative merchant and naval ships, including gas tankers, chemical carriers, containerships, fast ferries and patrol boats.

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