Stolt-Nielsen reports drop in Q2 profit amid Middle East disruptions

Chief Executive Officer Udo Lange noted that while average freight rates were softer year-on-year, a month-on-month increase across the quarter reversed this downward trend.

Meanwhile, Stolthaven Terminals achieved a record operating profit of $29.1 million, up from $28.9 million, as utilisation levels rose to 93.4 per cent due to new business and firmer storage rates.

Conversely, Stolt Tank Containers posted an operating loss of $0.3 million, which included $4 million in integration costs for Suttons, despite achieving a 21 per cent increase in shipments.