May 20, 2003
Stolt Nielsen facing another probe
The story broke in today's Wall Street Journal. Citing a review of company records and legal documents, the WSJ reported that ships owned by Stolt or a joint venture had been used for trade with Cuba, Sudan and Iran despite a U.S. trade blacklist.
Reuters reports from Oslo that the company says it is "cooperating fully with U.S. investigators" into probes of what it has called payments of "incidental port expenses" linked to Sudan and Iran.
Stolt Nielsen is one of a number of chemical carriers that have been cooperating with U.S. and European antitrust investigations into allegations of price fixing in the chemical tanker market.