LNG

Stolt-Nielsen Ltd, the Oslo-listed and London-based owner of a tankers fleet including for small-scale LNG through its stake in Avenir LNG and other shipping-related businesses, has reported executive changes at the Stolt Tankers division.

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.

Stolt-Nielsen, the London-headquartered Norwegian company with terminal, shipping and Avenir LNG project interests, reported stable first-quarter earnings amid US disruptions and said the LNG import terminal on the Italian island of Sardinia would come on line in May.

Stolt-Nielsen Ltd, the Norwegian-listed shipping and storage group, said in its second-quarter earnings that its gas subsidiary was continuing to focus on the development of small-scale LNG storage and distribution supply chains to serve locations lacking access to natural gas pipelines.

Stolt-Nielsen, the Norwegian-listed shipping and storage company with small-scale LNG project plans on the Italian Island of Sardinia and in Scotland, posted a second-quarter drop in net profit of around 60 percent to $15.6 million compared with $38.0M in the year-ago quarter.

Jan 31 (LNGJ) - Norwegian shipping and storage company Stolt-Nielsen, whose natural gas subsidiary has plans for small-scale LNG storage and distribution projects, posted net profits in the fourth quarter of $22.8 million from $463M in revenues. “At Stolt Tankers, the softness we observed in the prior period continued into the fourth quarter,” said Niels G. Stolt-Nielsen, the company Chief Executive. “Our outlook for 2017 remains largely unchanged. In the markets served by Stolt Tankers, there is still an oversupply of tonnage, and with significant newbuilding deliveries in 2017, combined with a weak product tanker market, we believe the year will be challenging,” he added.