Stolt-Nielsen has clinched a deal to build an innovative new tanker capable of coping with fluctuating water levels in the Rhine river in Germany.

The Norwegian company's Stolt Tankers unit said the low-water carrier has been commissioned by chemicals giant BASF for its exclusive use. Both companies have cooperated on the design.

The ship can operate at "extreme" low-water levels on the key waterway for chemicals transport in Europe.