Looking for a specific product?

Make a search for products & suppliers, articles & news.

Stolt-Nielsen Off to a Good Start

Oslo-listed shipowner Stolt-Nielsen Limited reported net profit attributable in the first quarter of $38.7 million, with revenue of $487.7 million, more than doubling figures in the fourth quarter of 2014.

Stolt-Nielsen

Results for the first quarter included a gain of $16.4 million, net of tax, resulting from the curtailment of the company’s U.S. defined benefit pension plan, which was frozen on December 31, 2014.

Stolt Tankers reported an operating profit of $19 million, up from $12.5 million excluding one-time items in the previous quarter, largely reflecting the favourable net impact of lower bunker fuel prices.

Stolthaven Terminals had an operating profit of $15.6 million, up from $14 million excluding a reversal of a provision of $3.8 million in the fourth-quarter, related to the termination of a customer contract at Stolthaven New Zealand.

Stolt’s container arm  reported an operating profit of $16 million, down from $19.5 million, due primarily to the normal seasonal slowdown impacting utilisation, though margin per shipment held steady.

“The improvement this quarter derives primarily from lower bunker costs in Stolt Tankers, but also from initiatives taken to lower overall costs in the group. At Stolt Tankers, the net impact of ower bunker prices improved results, though utilisation and freight rates were down. At Stolthaven Terminals, underlying operating performance improved this quarter. Utilisation at our terminal in Santos was up. Operating results at Stolt Tank Containers reflected the impact of seasonal slowdowns, with a reduced number of shipments and lower utilisation,”  Niels G. Stolt-Nielsen, Chief Executive Officer of Stolt-Nielsen Limited, said.

Looking ahead, we expect to continue to benefit from lower bunker fuel prices in the second quarter, but cargo volumes must increase if we are to see any material improvement in the chemical tanker market. We have yet to see any sustained increases to date and, unfortunately, there are no indications of any improvement in the near future,” he added.

Related news

Latest news

Over 45,000 businesses risk EU energy fines for non-compliance

The previous compliance date of 5th December 2015,

“An Incredibly reliable net cleaning system”

Our predator nets are prone to fouling with scallops and mussels,

“An Incredibly reliable net cleaning system”

Good knowledge enables the customer to get the most out of the product. 

DNV GL initiates energy storage standard for Australia

DNV GL will lead the project and prepare a draft proposal for the standard,

Kvale acts for foreign ship owners in a direct action case

The case is against a Norwegian P&I underwriter and the alleged tortfeasor following a collision in the Singapore strait. Recently, the Supreme Court rendered a verdict on the issue of whether Norwegian courts hav...

Kvale recognized by IAM Patent 1000 2018

Kvale's IP-team receives great review from IAM Patent 1000 "The world's leading patent professionals 2018". 

Positive winds at the SeaWork International trade fair

- This is the place to be,

DNV GL and Brodosplit sign class contract for Quark polar expedition vessel

Quark has a long history of civilian polar exploration.

Elkem sustainability magazine 2017 and GRI report for 2017 is ready

Corporate social responsibility is one of the building...