Stolt-Nielsen Limited (Headquarters: Oslo Børs, Norway, “SNI”) and Nippon Yusen Kabushiki Kaisha (Headquarters: Tokyo, Japan, “NYK Line”) have today announced that, through Stolt-Nielsen’s subsidiary Stolt-Nielsen Gas Ltd., Stolt-Nielsen has entered into a share purchase agreement to sell 50% of Avenir LNG Limited (Avenir LNG) to NYK Line. Avenir LNG was founded in 2017 and has grown into a leading player in the liquefied natural gas (LNG) bunkering sector, operating a global fleet of LNG bunker vessels.

With this partnership, Stolt-Nielsen and NYK Line will expand their future small-scale LNG and LNG bunkering opportunities through the joint venture, supporting the global transition to LNG and bio-LNG for marine fuel and other industrial applications. Following a wave of dual-fuel LNG vessel orders in recent years, LNG is rapidly being adopted as a practical and scalable fuel that enables shipping to achieve emissions reductions. This new joint venture in Avenir LNG underscores the commitment of Stolt-Nielsen and NYK Line to sustainable energy solutions for the maritime industry.

Udo Lange, Chief Executive Officer of Stolt-Nielsen Limited, said:
“By entering into this joint venture, we are developing our long-standing partnership with NYK Line and supporting Avenir LNG’s position in small-scale LNG supply and bunkering. NYK’s experience in shipping and logistics, together with potential market opportunities arising from the continued expansion of LNG-fueled vessels, is expected to add value to Avenir LNG, its customers, and our shareholders. This transaction also reflects Stolt-Nielsen’s commitment to supporting sustainable energy solutions across global shipping supply chains by facilitating safe and reliable access to LNG fuel. I would like to thank and congratulate the Stolt-Nielsen, Avenir LNG and NYK Line teams for their contributions to this important transaction.”

NYK Line, Hironobu Watanabe, managing executive officer of NYK Line, said:
“NYK has long built a strong relationship with Stolt‑Nielsen in the chemical tanker business. With this foundation of trust and proven partnership, and we are very pleased to establish a new Joint venture through Avenir LNG. As the maritime industry accelerates its efforts toward decarbonisation, LNG and bio-LNG fuel has become more essential and practical role in supporting a sustainable energy transition. Through this new partnership, we are confident that Avenir LNG will be well positioned to meet the growing demands of the market and deliver enhanced value to the supply chain. We will continue to develop our partnership with Stolt‑Nielsen while advancing our initiatives in LNG and bio‑LNG bunkering, contributing to a more sustainable future for the maritime industry.”

Jonathan Quinn, Managing Director of Avenir LNG, said:
“We are very pleased to welcome NYK Line as a strategic partner in Avenir LNG alongside Stolt-Nielsen. This joint venture brings together two highly respected shipping and logistics groups with complementary strengths and a shared long-term vision for LNG as a marine fuel. NYK Line’s global reach and operational expertise will enhance our ability to develop the business, accelerate the development of LNG bunkering solutions, and support our customers’ decarbonisation strategies as the market continues to mature.”

Completion of the transaction is expected to occur in the middle of 2026, subject to customary approvals, including regulatory approvals.

About Stolt-Nielsen Limited
Stolt-Nielsen (SNL or the ‘Company’) is a long-term investor and manager of businesses focused on opportunities in logistics, distribution and aquaculture. The Stolt-Nielsen portfolio consists of its three global bulk-liquid and chemicals logistics businesses – Stolt Tankers, Stolthaven Terminals and Stolt Tank Containers – Stolt Sea Farm and various investments. Stolt-Nielsen Limited is listed on the Oslo Stock Exchange (Oslo Børs: SNI).

About Nippon Yusen Kabushiki Kaisha (NYK Line)
Founded in 1885, NYK Line is a global logistics company that focuses on various forms of marine transportation, such as global logistics and bulk energy transportation, among many other related businesses. Operating one of the world's largest transportation networks, the company owns and operates a diverse fleet of car carriers, container carriers, and energy carriers. In recent years, we have actively entered new business areas, including the decarbonisation business, by leveraging the knowledge and technology we have cultivated over many decades in shipping.

About Avenir LNG Limited
Avenir LNG Limited is a leading independent owner and operator of small-scale LNG carriers and LNG bunker vessels. Founded in 2017, the company plays a key role in enabling the global energy transition by providing safe, reliable and flexible LNG logistics solutions. With one of the largest fleets of LNG bunker vessels globally, Avenir LNG supports the marine fuel transition to LNG and Bio-LNG while also serving industrial customers through small-scale LNG distribution. The company combines technical expertise, operational excellence and long-term partnerships to deliver efficient, lower-emission energy solutions worldwide.

On March 10, 2023, the NYK Group released its medium-term management plan “Sail Green, Drive Transformations 2026 — A Passion for Planetary Wellbeing.” The NYK Group is promoting growth strategies with sustainability at the core, based on the Group’s mission statement of “Bringing value to life” and a new corporate vision for 2030, which reads, “we go beyond the scope of a comprehensive global logistics enterprise to co-create value required for the future by advancing our core business and growing new ones.”