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Stolt-Nielsen reports best quarterly profit in years

Norwegian Stolt-Nielsen, which has acquired shares in competitor Odfjell, benefitted from higher volumes and spot rates in the chemical tanker market and predicts further improvement in the market. The company is, however, not quite ready for ordering newbuilds.

Photo: Stolt-Nielsen

Norwegian Stolt-Nielsen reports its best result in years in the second quarter. And according to the company, there are signs the chemical tanker market, having been strained for years, will continue the positive trend for some time to come.

This is evident from the company’s Q2 interim report, which reveals an overall net profit of USD 58.6m for the Norwegian shipping group, which, among others, consists of chemical tanker operator Stolt Tankers.

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