SNTGStolt-Nielsen Transportation Group
SNTGSea Nymph Test Group
SNTGSuperconductivity and Nanotechnology Group (Turkey and US)
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The Norwegian transportation services group Stolt-Nielsen SA (SNSA) said today (22 May) that its wholly-owned subsidiary Stolt-Nielsen Transportation Group (SNTG) had commented on recent press reports regarding investigations in the US into its business dealings with Sudan and Iran.
SNTG had agreed with the US Department of Treasury's Office of Foreign Asset Control (OFAC) to pay a civil penalty of USD95,000 relating to the payment of incidental port expenses to entities in Sudan without any finding by OFAC of a violation, according to SNSA.
The company said that it had informed OFAC that SNTG had adopted a policy that bars parcel tanker trade with all OFAC restricted countries, regardless of whether such trade would otherwise be permissible under applicable regulations.