Stolt-Nielsen's second-quarter profit flat, CEO sees challenges ahead

摘要

Stolt-Nielsen reports net profit of $3.6 million for the second quarter of 2020, flat year on year (YOY) and swinging from a first-quarter net loss of $20 million. Sales of $503.5 million for the quarter ended 31 May were down $15 million YOY, but up $6 million on the first quarter. Operating profit in the quarter from its chemical tankers business rose 64% YOY to $20 million from $12.8 million, on slightly improved sales of $294 million, reflecting an increase in deep-sea revenue driven by increased operating days and improved export volumes from the US Gulf mainly to China and India as markets there began to reopen, it says.