Stolt-Nielsen hit by lower tanker rates in Q3

Declining rates in the tanker market pulled Stolt-Nielsen down in the third quarter, while container businesses are battling with fierce competition. Overcapacity and decline in China's production can plague the market in the coming year, says the CEO.

Photo: Stolt-Nielsen Limited

In 2016 so far, Norwegian shipping group Stolt-Nielsen has enjoyed strong tanker rates which boosted the company in the second quarter despite major challenges in the company's other primary segments, container and terminals.

However the positive trend ended abruptly after the second quarter when rates in the tanker market made a 180 degree turn in the wake of a large order book, declining production, and an expectation of impending overcapacity in the segment.

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

Oil shipping states get loophole in EU's new Russia sanctions

In a new sanctions package against Russia, the EU cracks down on exporting the warring nation’s crude to third countries – despite protest from countries like Greece and Malta. Although several states are given leeway in new sanction demands the EU Commission otherwise considers ”water-tight”.

Further reading

Related articles

Latest news

See all jobs