Brief: Stolt-Nielsen Q3 net profit in line; maintains overall outlook

Stolt-Nielsen

09/10/2017 07:20

Oct 9 (Reuters) - Stolt-Nielsen Ltd  SNI.OL  
    * Stolt-Nielsen q3 net profit $18.5 million (Reuters poll 
$18.7 million) 
    * Stolt-Nielsen q3 revenues $513.8 million (Reuters poll 
$491 million) 
    * on balance, our overall outlook remains unchanged 
    * we do not anticipate any substantial improvement in 
chemical tanker market until latter part of 2018, when the 
current orderbook will have been significantly reduced and the 
balance between tonnage supply and demand improves 
    * for stolthaven terminals, we continue to expect a modest 
but steady improvement in results, driven by actions to enhance 
operational performance across our network of terminals 
    * at stolt tanker containers, we expect margins and 
utilisation to hold steady at current levels 
    * consistent with seasonal patterns, stolt sea farms' 
results are expected to improve in q4, driven in part by 
strengthening prices ahead of holiday sales season 
    * while SNL's third-quarter results were up, improvement 
was largely driven by unrealised gains related to bunker-hedging 
programme at stolt tankers 
    * excluding impact of that programme, results at stolt 
tankers were down slightly, as market conditions continued to 
soften during quarter 
 
Source text for Eikon:  urn:newsml:reuters.com:*:nGNE9q8Yyp 
Further company coverage:  SNI.OL  
 
 (Reporting By Terje Solsvik) 
 ((terje.solsvik@thomsonreuters.com;))