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Jacob Stolt-Nielsen, Jr. P’87

Former Chairman and CEO, Stolt Tankers and Terminals (Holdings) S.A.

“Shipping and risk-taking”

For over a century, shipping and risk-taking have been characteristic of the Stolt-Nielsen family. In 1891, Botholf Stolt-Nielsen invested 60 percent of his savings in a deadweight steamer, and by 1899 he was the third largest ship owner in Norway. The family has owned ships ever since - through two world wars and good and bad economic times.

Jacob Stolt-Nielsen Jr. founded Stolt Tankers and Terminals in 1959. It was his interest in carrying a variety of cargoes aboard a single ship that led him to a position of prominence in the shipping industry and that gave rise to the world's largest parcel tanker company. His secrets included double-skinned tanks and independent pumps, pipes, and temperature controls for each tank. This breakthrough permitted the company to handle even toxic chemicals safely - although company policy is to refuse any such cargoes - or any of over 800 other liquids. Stolt-Nielsen's most sophisticated parcel tankers have 58 stainless steel and coated cargo compartments.

Stolt-Nielsen controls a variety of ancillary shipping operations. For example, the terminal division of Stolt Tankers and Terminals operates the terminals where the ships are berthed and liquids stored. Stolt Terminals are located throughout North and South America. There is also a transfer terminal in Rotterdam, the Netherlands. Stolt Tank Containers, the company's fastest growing business, operates of 5,000 intermodal stainless steel tank containers. In the early 1970's, Jacob Stolt-Nielsen started two new marine businesses, seafood and underwater contracting. While part of the Stolt organization, they have operated independently since 1977. Stolt Sea Farm is an aquaculture company employing modern techniques to breed, farm, and process quality seafood in controlled environments. Stolt Seaway is a major marine and subsea contractor specializing in the installation, inspection, repair, and maintenance of underwater structures for the offshore oil and gas industry.

For over 100 years, Stolt-Nielsen has been called the first name in world-wide shipping. In the company's 1991 annual report, Jacob Stolt-Nielsen Jr. wrote, "It would have been fun to show my grandfather one of our stainless steel chemical tankers today. It would also be fun to see what they will look like a century from now." In all probability, those tankers will also bear the Stolt-Nielsen name.