A poor chemical tanker market, like a visit to the dentist, is bound to extract some pain and the big players in the segment have had their fair share. Yet if Stolt-Nielsen, one of the biggest owners of chemical tonnage, was able to put $32.4m into the bank in the three months to the end of May, and at the same time beat the $27.5m profit in the same period a year ago, it was not down to its tanker fleet, which saw operating profit slip into the red to the tune of $3.5m.
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