July 1 (LNGJ) - Stolt-Nielsen, the London-headquartered Norwegian company with interests including terminals, shipping and the Avenir small-scale LNG business, said net profits from continuing operations increased to $10.3 million for the first half of 2021 compared with a loss of $7.0M in the same period of 2020. In addition to a growing vessel fleet, the company’s Avenir LNG joint venture has an 80 percent stake in the small-scale Italian terminal located at the port of Oristano on the island of Sardinia.
The company’s Stolt-Nielsen Gas unit reported an operating profit of $100,000 compared with an operating loss of $2.1M for the six months ended May 31 “This was a result of an improvement in the share of profit (loss) in Avenir as two of their six newbuildings were delivered in late 2020 and early 2021 and are currently on time charter to third parties,” said the Stolt-Nielsen.
