Stolt Tank Containers reports unaudited results for the third quarter and first nine months of 2021

Stolt-Nielsen Limited has reported unaudited results for the third quarter and first nine months of 2021. The company reported a third-quarter net profit attributable to shareholders of $33.5 million, with revenue of $580.9 million, compared with a net profit attributable to shareholders of $7.8 million, with revenue of $526.9 million, in the second quarter of 2021.

The net profit attributable to shareholders for the first nine months was $43.8 million, with revenue of $1,588.0 million, compared with a net profit from continuing operations of $23.5 million, with revenue of $1,474.5 million, in the first nine months of 2020.

Niels G Stolt-Nielsen, chief executive officer of Stolt-Nielsen Limited, commented: “The improvement in the third quarter was primarily a result of very strong performances and market conditions at Stolt Tank Containers and Stolt Sea Farm.”

He added: “Stolt Tank Containers’ markets continue to show strength with rising freight rates and higher demurrage revenue compensating for the rising costs.”

“I expect the market for Stolt Tank Containers will continue to be strong in the quarters to come. Even though we are operating under very challenging circumstances due to tight ocean liner capacity, a shortage of truck drivers and port congestion, we are able to pass on the additional costs and improve margin per shipment,” he added.