Tokyo: Stolt-Nielsen has entered the VLGC market with a three year time charter agreement through its subsidiary Stolt-Nielsen Gas for the 78,498 cbm Very Large Gas Carrier Yuhsho (pictured) from Yuyo Steamship in Japan. The ship was built by Mitsubishi Heavy Industries, Ltd. and delivered in February 1999.
Commenting on the delivery, Christian Andersen, president of Stolt-Nielsen Gas 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." [04/11/09]
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