Stolt-Nielsen Reports Strengthened Financial Performance
Net profit attributable to shareholders in the second quarter was $37.0 million, with revenue of $538.8 million, compared with $8.0 million and $505.7 million, respectively, in the first quarter of 2012. Net profit attributable to shareholders for the first six months was $45.0 million, with revenue of $1,044.4 million, compared with $63.6 million and $986.6 million, respectively, in the first half of 2011. • Stolt Tankers reported an operating profit of $29.0 million, reflecting a net gain of $24.5 million on insurance proceeds related to the loss of MT Stolt Valor following the incident in the Persian Gulf in March. Net of this gain the operating profit was $4.5 million for the current quarter, compared with an operating loss of $8.6 million.
Fire Contained on MT Stolt Valor
London - Stolt Tankers B.V., a subsidiary of Stolt-Nielsen Limited (Oslo Børs: SNI) and owner and operator of MT Stolt Valor, reported today that the fire on the ship has been contained. One crew member is still missing. The ship is under tow approximately 45 miles off the coast of Qatar. There has been no spillage of fuel oil from the ship, nor any reported or visible spillage of cargo. Stolt Tankers continues to work in close cooperation with the authorities, salvage experts and insurers to salvage the ship and its cargoes and to avoid any environmental impact. Full investigations into the cause of the accident are being conducted by the flag state and the Company. MT Stolt Valor is a 2004-built chemical tanker of 25,268 dwt.
Stolt Valor in Middle East Gulf Casualty
Stolt Tankers B.V., a subsidiary of Stolt-Nielsen Limited and operators and owners of MT Stolt Valor, has confirmed that the vessel suffered an explosion on board while transiting the Persian Gulf. At least one crew member is reported missing. A Coalition warship is presently on site and is providing assistance. The company reported that 24 of the 25 crew members are safe and on board the Coalition vessel. One crew member is currently missing. Families of all the crew are being contacted as a matter of urgency. Stolt is working in close cooperation with the authorities on site in order to establish the whereabouts of its missing seafarer and the condition of the vessel.
