April 10 (LNGJ) - Stolt-Nielsen Ltd, the Oslo-listed and London-based owner of a small tanker fleet including for LNG through its stake in Avenir LNG as well as terminals and other shipping interests, reported first-quarter net profits of $104.0 million, up from $99.8M in the same three months of 2023.
Stolt-Nielsen’s earnings per share in the first quarter amounted to $1.94, up from $1.86. Stolt Tankers reported operating profits of $93M, an increase from $87.1M last year. Stolt-Nielsen Gas, including LNG assets, narrowed its operating losses to $2.0M from $3.4M in the 2023 quarter. “The firm market conditions enjoyed by Stolt Tankers during 2023 continued into the first quarter,” said Udo Lange, Chief Executive. “Spot rates continued to strengthen and we should start seeing the effect in the second quarter onwards. That said, we have seen some contract volumes decline as our customers adjust to the impact of supply chain disruptions,” he added.
