Stolt Nielsen Q3 results

Stolt-Nielsen has posted a net profit in the third quarter of the year of $18.5m, with revenue of $513.8m, compared with a net profit of $15.6m, with revenue of $500.8 million, in the second quarter of 2017.

Stolt Tank Containers reported an operating profit of $14.8m, up from $13.7m, driven in part by improved margins and higher equity income from STC’s joint venture cleaning and repair depots.

Stolt Tankers reported an operating profit of $34.4m, up from $27.6m, mainly reflecting the impact of gains related to the company’s bunker hedging programme. Stolthaven Terminals reported an operating profit of $16m in the third quarter, essentially unchanged from the previous quarter.

CEO, Niels G. Stolt-Nielsen said that the tank container business “continued to show evidence of margin improvement, along with lower empty repositioning costs and improved contributions from joint-venture depots.”

Looking forward, he said: “On balance, our overall outlook remains unchanged. We do not anticipate any substantial improvement in the chemical tanker market until the latter part of 2018, when the current orderbook will have been significantly reduced and the balance between tonnage supply and demand improves. For Stolthaven Terminals, we continue to expect a modest but steady improvement in results, driven by actions to enhance operational performance across our network of terminals. At Stolt Tanker Containers, we expect margins and utilisation to hold steady at current levels.”

For more information visit www.stolt-nielsen.com

16th Oct 2017