Supply Chain Research

Chemical tanker operator Stolt-Nielsen reported revenues that were 2% lower than analysts’ expected, but still managed a 10% improvement on a year earlier. That came despite a drop in volumes in both its shipping and terminals business due to the Gulf of Mexico storms in August and September. It’s also better than the 2% growth expected for the tanker / bulker sector more broadly. Adjusting for write-downs in the terminals business, profitability was better than expected with an EBITDA margin of 24%. Yet, management remain cautious, with oversupply in the chemical tanker market expected ...