Chemical Seaborne Market 2018 Unspeakable Recovery Before The Second Half Of The Year

- Jan 22, 2018 -

Sindh Maritime Network October 10 news, yesterday, oil product transportation giant Stolt-Nielsen unaudited third quarter financial report, according to the report shows that as of August 31 in the third quarter of this year the company recorded operating revenue of 513.8 million US dollar, net profit attributable to shareholders 18.5 million US dollars. Compared with the previous quarter turnover of 5.008 billion US dollars, profits of 15.6 million US dollars, have improved. glenflange


For the first nine months of this year, shareholders posted a net profit of $ 49.2 million and a revenue of $ 1.4902 billion, compared with a profit of $ 903,000 for the first nine months of 2016 and a revenue of $ 1,416.9 million.


In the report, Stolt-Nielsen pointed out that Hurricane Harvey, who attacked the southeastern United States in late August, had a significant impact on the company's operations. "Our company's shipping of canned goods, docks and chemicals was therefore lost. Some of the effects will be shown in the company's fourth quarter report, while Hurricane Irma has no impact on the company's operations.


Looking ahead, Stolt-Nielsen maintained the same expectations made by mid-year. "We expect the chemical transport market will not grow until the current order volume drops significantly and the balance between demand and supply of capacity improves after the second half of 2018." Will there be a substantial turnaround.

Regarding its terminal business, Stolt-Nielsen expects a modest but steady improvement in the business. In the meantime, the company's chemical tank shipping business is expected to remain stable. glenflange

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