1. Home
  2. Maritime industry news - PortNews
  3. Stolt-Nielsen reports unaudited results for Q3 2018

2018 October 4   14:32

Stolt-Nielsen reports unaudited results for Q3 2018

Stolt-Nielsen Limited today reported unaudited results for the third quarter ended August 31, 2018. Net profit attributable to shareholders in the third quarter was $3.0 million, after a $12.9 million negative impact resulting from a change in the accounting for the Company's investment in Avance Gas Holdings Limited, with revenue of $543.1 million, compared with a net profit of $9.5 million, with revenue of $541.0 million, in the second quarter of 2018. Net profit attributable to shareholders for the first nine months was $51.3 million, with revenue of $1,599.4 million, compared with $49.2 million, with revenue of $1,490.2 million in the first nine months of 2017.

Highlights for the third quarter of 2018, compared with the second quarter of 2018, were:

 Stolt Tankers reported an operating profit of $21.4 million, down from $26.5 million, mainly reflecting a reduced gain on bunker hedges, along with a $2.1 million increase in bunker costs net of surcharges. The Stolt Tankers Joint Service Sailed-in Time-Charter Index was 0.58, compared with 0.59 in the prior quarter.

 Stolthaven Terminals reported an operating profit of $18.6 million, down from $20.2 million. The prior quarter benefited from $1.6 million in equity income related to an early contract termination by a customer.

 Stolt Tank Containers reported an operating profit of $17.7 million, down from $18.8 million, reflecting a seasonal decrease in the number of shipments.

 Stolt Sea Farm's operating profit before the fair-value adjustment of inventories was $2.1 million versus $2.4 million.

 Corporate and Other reported an operating loss of $3.3 million, compared with a loss of $20.9 million in the prior quarter, which included an $11.8 million impairment related to two bitumen ships, losses on bitumen trading, and higher administrative and general expenses.

Latest news

2025 May 29

2025 May 28

Mon Tue Wed Thu Fri Sat Sun
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31