EuropeTankers

No uptick for chemical tankers for at least 12 months: Stolt-Nielsen

Photo of Grant Rowles Grant RowlesJuly 6, 2017
6 Less than a minute

One of the best known names in the chemical tanker business sees no uptick in this sector for 12 months.

Speaking while unveiling his company’s second quarter results, Niels Stolt-Nielsen, CEO of Stolt-Nielsen, said: “Our outlook remains cautious. We do not expect a significant improvement in the chemical tanker market until most of the current orderbook has been delivered, which, barring any new orders, is expected to be in the second half of 2018.”

Stolt-Nielsen made a net profit of $15.6m in the second quarter, a result the CEO described as “disappointing”.

Tags
Photo of Grant Rowles Grant RowlesJuly 6, 2017
6 Less than a minute
Photo of Grant Rowles

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
Back to top button