Brief: Norway's Stolt-Nielsen posts better-than-expected Q2 net profit

Stolt-Nielsen

07/07/2016 07:20

July 7 (Reuters) - Stolt-Nielsen Ltd  SNI.OL  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 
 
Source text for Eikon:  ID:nGNXVFGKKa  
Further company coverage:  SNI.OL  
 
 (Reporting by Gwladys Fouche) 
 ((gwladys.fouche@thomsonreuters.com;))