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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.

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