ShippingWatch

Stolt-Nielsen hit by struggling container sector

Norwegian shipping group Stolt-Nielsen saw its net result decline in the third quarter. A solid chemical tanker market was unable to compensate for the low rates and increasing competition in the container sector, notes the company.

Photo: Stolt-Nielsen

Stolt-Nielsen Limited is still noting strong developments for the group's chemical tanker business, but the struggling container market and a major impairment on the company's terminal and port business pulled the Norwegian shipping group down in the third quarter, ending August 31.

The group's net result came to USD 30.1 million in the third quarter, down from USD 42.5 million in the second quarter 2015, according to Stolt-Nielsen's unaudited third quarter interim report, published Thursday. Revenue finished at USD 500.7 million, on par with the previous quarter.

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