Brief: Stolt-Nielsen Expects Q4 TCE Earnings To Be Lower Than In Q3

Stolt-Nielsen

02/10/2024 07:23

Oct 2 (Reuters) - Stolt-Nielsen Ltd  SNI.OL :
    * LIQUID LOGISTICS OPERATIONS HAVE BENEFITTED FROM STRONG
TANKER
MARKETS DRIVEN BY FIRM SPOT RATES DUE TO TRANSIT RESTRICTIONS IN
RED SEA
    * EXPECT PRODUCT TANKER MARKET TO FIRM THROUGH THE END OF
THIS
YEAR, LIMITING IMPACT OF SWING TONNAGE
    * WHILE THIRD QUARTER TCE EARNINGS WERE AT RECORD LEVELS,
THE
FOURTH QUARTER, WHILST STILL STRONG, IS EXPECTED TO BE LOWER
    * CARGOES BOOKED AT LOWER SPOT FREIGHT RATES DURING
SEASONALLY
SLOWER Q3 WILL NEGATIVELY IMPACT THE Q4 AVERAGE TCE
    * SPOT FREIGHT RATES ARE EXPECTED TO RECOVER TOWARDS END OF
FOURTH
QUARTER AND INTO 2025
    * UNDERLYING FREIGHT RATES LIKELY TO REMAIN FIRM FOR
FORESEEABLE
FUTURE
    * TANK CONTAINER MARKET REMAINS CHALLENGING

Source text for Eikon:  ID:nGNE9My50M 
Further company coverage:  SNI.OL 

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