Stolt-Nielsen's tankers deliver positive surprise in Q2
Stolt-Nielsen's chemical tanker carrier exited the second quarter on a positive note due to reasons including low bunker expenses. CEO Niels G. Stolt-Nielsen has respect for expected developments in the next two years, but believes that new vessels can be postponed or canceled.
BY KATRINE GRØNVALD RAUN
The good times were rolling at Norway's Stolt-Nielsen in the second quarter of this year, in which the group's chemical tanker carrier was an especially bright spot and advanced more than many analyst agencies had expected.
Hafnia, Torm, Norden and Scorpio Tankers have seen big profits this year in a strong tanker market, which has been highly affected by Russia’s war in Ukraine. The carriers are now sending record-high dividends out to stakeholders.
Demand on the majority of busy container routes is now at its lowest level in three years, an influential analyst bureau reports, saying volumes may continue to plummet beyond the Chinese New Year in February.