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Stolt-Nielsen Ltd (SNI.OL)

SNI.OL on Oslo Stock Exchange

22 Feb 2018
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Latest Key Developments (Source: Significant Developments)

Stolt-Nielsen declares interim dividend of $0.25 per common share
Wednesday, 15 Nov 2017 02:48pm EST 

Nov 15 (Reuters) - Stolt-Nielsen Ltd :Stolt-Nielsen limited declares interim dividend of $0.25 per common share.  Full Article

Stolt-Nielsen issues statement on impact of Hurricane Harvey on its operations
Wednesday, 30 Aug 2017 12:01pm EDT 

Aug 30 (Reuters) - Stolt-Nielsen Ltd :Stolt-Nielsen Ltd - All company assets in Houston suffered no material damage, there are no reports of spills or product contaminations as result of storm.Says all employees are accounted for and safe.Says terminal is not expected to become operational for at least next few days.Uncertain when normal port operations will resume.While it is too early to estimate financial impact of storm, company said amount is not expected to be material.Significant congestion is expected to cause further delays as situation returns to normal.  Full Article

Stolt-Nielsen Q2 lags forecast; chemical tanker market won't improve until H2 2018
Thursday, 6 Jul 2017 02:15am EDT 

July 6 (Reuters) - Stolt-Nielsen Ltd ::Stolt-Nielsen q2 net profit $15.6 million (Reuters poll $21.7 million).Stolt-Nielsen q2 operating profit $51.6 million (Reuters poll $56.2 million).Stolt-Nielsen q2 revenues $500.8 million (Reuters poll $483 million).At stolt tankers, softening of chemical market that we have seen since q3 of last year continued, but at a slower rate.While demand side growth remains at historical levels, pressure we see on rates is a result of excess supply from new ships entering market.Results at stolthaven terminals were much in line with prior quarter, with actions to improve sustained long-term performance continuing.Bright spot in quarter was stolt tank containers, which reported much improved results, up from seasonally weak q1.Stolt-Nielsen - we do not expect a significant improvement in chemical tanker market until most of current orderbook has been delivered, which, barring any new orders, is expected to be in second half of 2018.For stolthaven terminals, we expect gradual improvements in earnings going forward, and for stc (stolt tank containers) we expect market conditions in line with those of this latest quarter.  Full Article

Stolt-Nielsen Q1 net profit slightly below forecast, sees better chemical tanker market in 2018
Thursday, 6 Apr 2017 02:20am EDT 

Stolt-Nielsen Ltd : q1 net profit $15.2 million (Reuters poll $17 million) vs $31 mln in Q1 2016 . q1 revenues $475.7 million (Reuters poll $480 million) vs $464 mln in Q1 2016 . q1 operating profit $48.4 million (Reuters poll $49.6 million) vs $58 mln in Q1 2016 . Chemical tanker orderbook is shrinking and we are seeing at least some evidence that market is now bottoming out . Rest of this year will still be a challenge, but we anticipate an improvement in chemical tanker market once 2017 is behind us . Stolthaven's first-quarter results were in line with our expectations, as we continue long-term improvements we are making in this business . Stolt tank containers' top-line performance was down, consistent with seasonal patterns, while operating income reflected continued impact of price competition, though we believe we are near bottom . At stolt sea farm, wild catch rose in q1, increasing supply, pushing market prices down and, as a result, driving up both inventories and fair value losses .Downward slide in chemical tanker market that we observed in second half of last year continued during q1. Newbuilding deliveries drove down spot rates, while rising bunker prices ate into margins.  Full Article

Stolt-Nielsen considers spinning off Stolt Tankers as fully owned subsidiary, possible IPO later
Tuesday, 31 Jan 2017 10:18am EST 

Stolt-Nielsen Ltd CEO Niels G. Stolt-Nielsen gave the following comments in the earnings presentation on Tuesday: Stolt-Nielsen CEO says will consider to spin off Stolt Tankers as fully owned subsidiary . Stolt-Nielsen CEO says easier to use Stolt Tankers as a tool for further consolidation of the industry if its a stand-alone company . Stolt-Nielsen CEO says process to spin off Stolt Tankers could take 6 months, after which an IPO is a possibility if market is right Further company coverage: [SNI.OL] (Reporting By Ole Petter Skonnord, editing by Camilla Knudsen) ((olepetter.skonnord@thomsonreuters.com;)).  Full Article

Stolt-Nielsen wins approval of Jo Tankers acquisition
Thursday, 17 Nov 2016 12:40am EST 

Stolt-nielsen Ltd : competition authorities approve Stolt-Nielsen Limited's acquisition of Jo Tankers .The acquisition is expected to be finalized before the end of November.  Full Article

Stolt-Nielsen Q3 revenues and profit lag forecast
Thursday, 6 Oct 2016 02:25am EDT 

Stolt-Nielsen Ltd : q3 revenues $474.1 million (Reuters poll $485 million) . q3 net profit $22.2 million (Reuters poll $25.8 million) . q3 operating profit $52.6 million (Reuters poll $56.3 million) . CEO says difficult to forecast what year ahead may bring . Volume growth has not kept pace with supply-side growth, a situation made more acute by recent influx of cpp swing tonnage . On demand side, weak return volumes from china and far east are likely to continue . At stolthaven, ongoing actions to improve performance globally are steadily yielding sustainable results in line with our expectations . We believe decline in rates and margin squeeze at tank containers unit will soon bottom .At stolt sea farm, we are encouraged by firming of turbot and caviar prices, and we continue to see progress at our sole farm in iceland.  Full Article

Stolt-Nielsen buys the chemical tanker operations of Jo Tankers for $575 mln
Monday, 18 Jul 2016 04:05am EDT 

Chemical tanker operator Stolt-Nielsen Ltd: Stolt-Nielsen agrees to acquire the chemical tanker operations of Jo Tankers. . Stolt-Nielsen says funding for transaction has been secured through some of Stolt-Nielsen limited's main banks with a combination of bridge financing, secured term loans and available corporate funds. . Nielsen ltd says total purchase price is approximately $575.0 million, including proportional share of newbuildings in joint venture. . The transaction comprises 13 chemical tankers and a 50 pct share in a joint venture with eight chemical tanker newbuildings . Stolt-Nielsen ltd says transaction is subject to competition authority approval, with a decision expected before end of September 2016. . CEO Niels G. Stolt-Nielsen says transaction covers the tonnage replacement needs for the next several years .CEO says deal will give some operational savings and add new trade routes.  Full Article

Norway's Stolt-Nielsen posts better-than-expected Q2 net profit
Thursday, 7 Jul 2016 02:24am EDT 

Stolt-Nielsen Ltd says: Q2 revenues $478.9 million (Reuters poll $481 million) . Q2 net profit $37.8 million (Reuters poll $24.4 million) . Going forward, we remain guarded with respect to the outlook for Stolt-Tankers in 2017 and 2018. . Nielsen ltd says orderbook stands at 27 percent of existing fleet, but it remains unclear how this will ultimately play out, as some delays and cancellations of newbuildings seem increasingly likely. . Also, higher exports of certain commodity chemicals from u.s. Gulf are pulling tonnage out of our niche market in specialty chemicals, thus helping to maintain our freight rates. . At Stolthaven Terminals, we expect a continued gradual improvement in results into 2017 . At Stolt-Tank Containers, price competition is unlikely to abate in near-term, so we will continue to leverage our scale and global strengths to achieve competitive advantage .Recent firming of turbot prices is good news for Stolt-Sea Farm, and we expect to see improved performance at our sole farm in Iceland as year progresses.  Full Article

Stolt-Nielsen hires bankers to explore bond issue
Tuesday, 7 Jun 2016 05:00am EDT 

Stolt-nielsen Ltd : Stolt-Nielsen limited: contemplates issuance of bonds . Says contemplating the issuance of new senior unsecured bonds in the Norwegian bond market through increases of one or more of the company's existing bond issues . Says proceeds will be used for general corporate purposes .Danske Bank Markets, DNB Markets, Nordea Markets and Swedbank have been appointed as joint lead managers in connection with the potential transaction.  Full Article

U.S. Northeast gas prices drop as extended freeze thaws

Spot natural gas prices in the U.S. Northeast for Monday dropped on forecasts for less cold weather this week after they soared to all-time highs last week during an extended freeze.