Stolt-Nielsen's Q3 Numbers Disappoint

Shipping firm Stolt-Nielsen reported third-quarter earnings below forecast on Thursday and said it remained worried by the expected influx of new product tankers in 2016 and 2017.

Stolt-Nielsen's June-August operating profit rose to $59.8 million from $45.4 million a year earlier, lagging the average expectation of $68 million in a Reuters poll of analysts. .

"While we expect the current momentum at Stolt Tankers to continue into the fourth quarter, we remain concerned about the current orderbook for chemical tankers," the company said.

"The relatively healthy product spot market may come under pressure again once the large order book in the product tanker segment starts entering service, pushing swing tonnage into the fringes of our market," it added.

Net profit rose to $30.3 million from $14.6 million, below an average forecast for $35 million. (Reporting by Terje Solsvik