ShippingWatch

Stolt-Nielsen worried about the tanker market

2014 was a disappointing year for Norwegian Stolt-Nielsen as the anticipated improvement for chemical tanker carrier Stolt Tankers did not emerge. The company is worried about the significant chemical tanker orderbook in 2015, says CEO Niels G. Stolt-Nielsen.

The final months of 2014 failed to provide Norwegian Stolt-Nielsen's chemical tanker carrier Stolt Tankers with the expected boost, and CEO Niels G. Stolt-Nielsen describes 2014 as a disappointing year for the company overall.

In the fourth quarter the Stolt-Nielsen group as a whole, which is listed on the Oslo Stock Exchange and is active in the chemical, container and tanker businesses, achieved a net result of USD 13.1 million and a revenue of USD 532.3 million, down from the third quarter result of USD 14.6 million and USD 545.4 million revenues, according to the company's annual report.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

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.

Skuld opens new office in Tokyo

Skuld is to open a Japanese branch located in Tokyo. To lead the division, Skuld recruits former deputy general manager from Japan P&I Club.

Further reading

Related articles

Latest news

See all jobs