NYK Stolt Joint Venture Agreement For Chemical Tankers

• Stolt-Nielsen Limited has secured a deal with Nantong Xiangyu Shipyard.
• It’s Designed to optimize fuel efficiency, incorporating various energy-saving devices.
• Capability for future retrofitting for battery and methanol propulsion.

Stolt-Nielsen Limited’s joint venture, NST, with NYK Line, has inked a deal with Nantong Xiangyu Shipyard in China.

The agreement entails the construction of six 38,000 deadweight tonne stainless steel chemical tankers. Delivery of the vessels is scheduled between late 2026 and 2029, reports Stolt Nielsen.

Features of the Tankers

These tankers are similar to Stolt Tankers’ previous order from Wuhu Shipyard, featuring 30 cargo tanks for enhanced cargo flexibility.

Designed to optimize fuel efficiency, incorporating various energy-saving devices and shore power connections.

Capability for future retrofitting for battery and methanol propulsion, aligning with Stolt Tankers’ commitment to the energy transition.

Strategic Implications

Reflects Stolt-Nielsen Limited’s strategy to maintain the scale of its core fleet by adding new buildings via the NST joint venture.

A capital-efficient approach to acquiring vessels is not readily available in the second-hand market.

Comments from Executives

Udo Lange, CEO of Stolt-Nielsen Limited, emphasizes the importance of the order in replacing retiring ships, ensuring continued service quality.

Hironobu Watanabe, NYK Line Managing Executive Officer, underscores the significance of replacing older vessels with more fuel-efficient ones to support stable transportation services and promote an energy transition.

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Source: Stolt Neilsen

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