CRS / PERU / CDSBO

PERU TENDER DATED - DECEMBER 2, 2005
RESULTS

MT STOLT GUARDIAN - LIBERIAN FLAG - TANKER
OWNER: STOLT NIELSEN TRANSPORTATION GROUP
L/P: 1/3 SB EACH 1/2 SP U.S. EAST COAST
D/P: 1/2 SB CALLAO, PERU

FREIGHT RATE: USD 52.00 PMT BASIS CRS + CARE CARGOES
(7,840 MT) AT ONE L/B, ONE L/P TO ONE D/P

PREMIUMS: USD 2.00 PMT ON ENTIRE CARGO EACH ADDL L/B;
USD 5.00 PMT ON ENTIRE CARGO EACH ADDL L/P;
USD 3.00 PMT ON ENTIRE CARGO EACH ADDL D/P.