Stolt-Nielsen S.A. Reports Improved Third Quarter Results

Wednesday, September 26, 2001
Stolt-Nielsen S.A. (Nasdaq: SNSA; Oslo Stock Exchange: SNI) reported results for the third quarter and the nine-month period ended August 31, 2001. Net income for the latest quarter was $29.7 million, or $0.54 per share, on net operating revenue of $735.4 million, compared with a net loss of $0.3 million, or $0.01 per share, on net operating revenue of $607.8 million for the third quarter in 2000. The weighted basic average number of shares outstanding for the third quarter of 2001 was 54.9 million compared to 54.7 million for the same period of 2000. Net income for the nine-month period ended August 31, 2001 was $26.3 million, or $0.48 per share, on net operating revenue of $1,912.7 million, compared with net income of $26.0 million, or $0.48 per share, on net operating revenue of $1,637.4 million for the same period of 2000. Before one-time gains resulting from dilution on Stolt-Nielsen S.A.'s (SNSA) interest in Stolt Offshore S.A. and the sale of assets, the net loss for the nine-month period ended August 31, 2000 was $7.5 million or $0.14 per share. For the nine-month period of 2001, the weighted basic average number of shares outstanding was 54.9 million, compared with 54.6 million for the same period in 2000. Stolt-Nielsen Transportation Group's (SNTG) income from operations during the third quarter improved to $41.1 million, almost doubling the $21.2 million in the third quarter of 2000, and was also up from the $35.8 million in the second quarter of 2001. For the nine-month period in 2001, income from operations improved to $106.1 million from $60.9 million last year. Results also benefited from lower bunker fuel prices. Income from operations rose to $29.7 million in the third quarter from $11.6 million in the third quarter of 2000. In early December, we expect to take delivery of the M/T Stolt Perseverance, the last ship of our 24 ship, $1.3 billion newbuilding program. This delivery will complete our newbuilding program for the foreseeable future.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

MHI's Entity to Oversee Material Handling Equipment, Engine and Turbocharger Businesses

Today Mitsubishi Heavy Industries, Ltd. (MHI) decided in principle to launch a new wholly owned entity to integrally oversee its current businesses in material

Globus Maritime Reclassifies Board Member

Globus Maritime Limited, a dry bulk shipping company, announced today that when Georgios Karageorgiou, a Class I director of Globus Maritime Limited  resigned on December 28,

First Panama Canal Water-Saving Basin Filled

The Panama Canal Authority (ACP) announced that the first water-saving basin of the Agua Clara Locks’ upper chamber has been filled to the required level in order

Finance

COSCO Plans European Transhipment Hub

China's COSCO is forging ahead with a plan to build a European transhipment hub, reports Reuters. The state owned shipping giant is expected to make an offer for

MISC Bhd: Revenue Up

Malaysia International Shipping Corporation Berhad (MISC Berhad), a shipping arm of Petronas, has seen an increase of 12.3 percent in its net profit for the 2015

Cosco Merger May Change Industry Dynamics

The merger between China Shipping group and the Cosco Group has given rise to a mammoth company that could trigger stability and extended consolidation in the global shipping industry,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Port Authority Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0956 sec (10 req/sec)