Brief: Stolt-Nielsen Q3 EBIT At $43.1 Mln

Stolt-Nielsen

03/10/2019 07:36

Oct 3 (Reuters) - Stolt-Nielsen Ltd  SNI.OL :
    * REG-STOLT-NIELSEN LIMITED REPORTS UNAUDITED RESULTS FOR
THE
THIRD QUARTER AND FIRST NINE MONTHS OF 2019
    * STOLT-NIELSEN Q3 NET PROFIT $3.4 MILLION (REFINITIV POLL
$10.9
MILLION)
    * STOLT-NIELSEN Q3 EBIT $43.1 MILLION (REFINITIV POLL $47.8
MILLION)
    * STOLT TANKERS' THIRD-QUARTER RESULTS WERE FLAT, SUPPORTING
OUR
BELIEF THAT CHEMICAL TANKER MARKET HAS BOTTOMED OUT
    * AT STOLTHAVEN WE EXPECT CONTINUED IMPROVEMENTS IN OUR
RESULTS,
DRIVEN BY INCREASED CAPACITY AND ENHANCEMENTS IN OPERATIONAL
PERFORMANCE AND EFFICIENCY
    * AT STOLT TANK CONTAINERS, SHIPMENTS WERE DOWN SLIGHTLY,
AND WE
ARE OBSERVING CONTINUED SOFTNESS IN MARKETS ALONG WITH PRICE
COMPETITION
    * WE EXPECT TO RECOVER INCREASE IN OUR FUEL COSTS THROUGH
BUNKER-SURCHARGE CLAUSES, THANKS TO A SHARED UNDERSTANDING AMONG
ALL PARTIES THAT IT IS ECONOMICALLY UNFEASIBLE FOR SHIPPING
INDUSTRY TO ABSORB THESE COSTS
    * LOOKING AHEAD, WITH DELIVERIES OF NEW TONNAGE SLOWING, WE
EXPECT
TANKER MARKET TO SLOWLY TURN

Source text for Eikon:  ID:nGNE1cJ8XV 
Further company coverage:  SNI.OL 

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