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Stolt-Nielsen: Recovery is beginning to fade

Sale of shares in Avance Gas gave the Stolt-Nielsen group a net-profit in the second quarter. But prospects on the tanker market are dim: “The likelihood of a recovery have decreased,” the company says.

Stolt-Nielsen Tankers failed to live up to its own expectations in the second quarter of 2014, which is usually seen as a good stage for the Norwegian chemical carrier. Operating profit in the tanker company fell to USD 8.5 million in Q2 from USD 9.8 million in the first three months of the year, and prospects are dim according to the CEO.

Collectively, the group did somewhat better, as the total operating profit rose to USD 58.9 million from USD 45.8 million in Q1.

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