Brief: Stolt-Nielsen Q4 Net Profit Attributable To Shareholders At $5.9 Million

Stolt-Nielsen

30/01/2020 07:36

Jan 30 (Reuters) - Stolt-Nielsen Ltd  SNI.OL :
    * REG-STOLT-NIELSEN LIMITED REPORTS UNAUDITED RESULTS FOR
THE
FOURTH QUARTER AND FULL YEAR OF 2019
    * LOOKING FORWARD IN 2020, WE CONTINUE TO ANTICIPATE A
GRADUAL
UPTURN IN CHEMICAL TANKER MARKET AS YEAR UNFOLDS
    * DESPITE RECENT MARKET SOFTNESS AND EFFECTS OF US-CHINA
TRADE
DISPUTE, WE EXPECT IMPROVEMENTS IN OPERATIONAL PERFORMANCE TO
CONTINUE TO STRENGTHEN RESULTS. STOLT TANK CONTAINERS HAS SEEN
AN INCREASE IN BOOKINGS AHEAD OF CHINESE NEW YEAR, WHICH COULD
EVENTUALLY HAVE A POSITIVE IMPACT ON UTILISATION
    * AT STOLT SEA FARM, WE ANTICIPATE SEASONALLY STRONG RESULTS
FROM
TURBOT IN Q1
    * IN ADDITION, FIRST OF OUR TWO NEW RECIRCULATION FARMS HAS
NOW
BEEN STOCKED WITH JUVENILES, WITH FIRST PRODUCT EXPECTED BY END
OF THIS YEAR
    * SECOND FARM IS EXPECTED TO BEGIN PRODUCTION IN 2021
    * STOLT-NIELSEN Q4 REVENUES $497.5 MILLION (REFINITV POLL
$535.4
MILLION)
    * NET PROFIT ATTRIBUTABLE TO SHAREHOLDERS IN Q4 WAS $5.9
MILLION
    * Q4 WAS ALSO Q1 SINCE 2016 IN WHICH WE SAW AN INCREASE IN
AVERAGE
CONTRACT RATE RENEWALS, WHILE ALSO ACHIEVING FULL RECOVERY OF
COST INCREASES RELATED TO IMO 2020 LOW-SULPHUR FUEL REGULATIONS
    * RESULTS AT STOLT TANK CONTAINERS WERE UP, MAINLY DUE TO
REDUCED
SHIPPING COSTS AND HIGHER DEMURRAGE REVENUE
    * EXCLUDING IMPACT OF FAIR-VALUE ADJUSTMENTS, STOLT SEA
FARM'S
RESULTS WERE DOWN FROM PRIOR QUARTER, REFLECTING SEASONALLY
LOWER TURBOT VOLUME SOLD IN Q4

Source text for Eikon:  ID:nGNE1cGMCC 
Further company coverage:  SNI.OL 

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