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June 25, 2003

Stolt exec faces antitrust charges
The Stolt-Nielsen Transportation Group (SNTG), a wholly-owned subsidiary of Stolt-Nielsen S.A. has confirmed that the U.S. Department of Justice has advised it that it is charging Richard Wingfield, an executive with the company, with a violation of Section 1 of the Sherman Act regarding alleged collusion in the parcel tanker industry. The Department of Justice has advised the company that it no longer considers Wingfield to be covered by the conditional amnesty granted to the company. Wingfield has been suspended from his position with the company.

A New York Times report says that federal court records show that Wingfield, who was was manager of the tanker trading division, was charged with conspiring to divide markets, fix prices and rig bids for parcel-tanker shipping to and from the United States

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