153 0 Kommentare Stolt-Nielsen Limited Reports Unaudited Results For the Third Quarter and First Nine Months of 2020 - Seite 2

“Stolt Tankers’ continuing focus on efficiency initiatives is starting to have a positive impact. Results for the quarter improved, however the Covid pandemic continues to impact scheduling, necessitating costly rerouting of ships in order to make overdue crew changes. During the quarter we were able to secure five modern 26,000 deadweight tonne stainless steel chemical tankers in the second-hand market at a very attractive price, a deal made possible by our resilient business model and financial strength. The ships are expected to be delivered starting December 2020. Results at Stolthaven Terminals continued to improve, as demand for chemicals used for packaging and healthcare products remained strong, offsetting weak demand for those bound for the automotive and construction sectors. At Stolt Tank Containers, August brought an increase in shipments following June and July’s seasonal summer slowdown. As restaurants in Stolt Sea Farm’s key European markets began to reopen, we saw a strong recovery in volumes sold, rising to levels close to the same quarter last year.

“We are cautiously optimistic that the momentum of a strengthening chemical tanker market will continue. Longer term, the favourable supply/demand outlook should provide a good foundation for continued improved results at Stolt Tankers. At Stolthaven, we expect to see healthy demand in most regions. Following the seasonally slow third quarter at Stolt Tank Containers, we are seeing signs of improvement, particularly in Asia. At Stolt Sea Farm we have seen volume and prices return towards pre-Covid levels, however the possible impact of a second lockdown on the hospitality industry, particularly in southern Europe, remains a concern.

“At the beginning of the pandemic we took early and decisive action to reduce costs and preserve cash, and at the end of the third quarter we had approximately $500 million in available liquidity. We continue to focus on safe and reliable operations that deliver quality services and products to our customers, while protecting our revenue base. Our diverse portfolio of businesses, dedicated employees and forward-looking strategy mean that we are well positioned for what may come.”