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Insurance Gain on Lost Ship Boosts Stolt-Nielsen's Second-Quarter Profits

7:23 AM MDT | July 5, 2012 | Sotirios Frantzanas

Stolt-Nielsen says net and operating profits in the second quarter of 2012 increased 15% and 43% year over year, to $37.6 million and $32.7 million, respectively. Sales also went up 2% in the second quarter, to $538.8 million compared with $528 million in the second quarter of 2011. Stolt-Nielsen's net profits in the second quarter of 2012 were almost five times higher than those of the first quarter of 2012, mostly due to a $24.5-million net gain on insurance compensation related to the previously reported loss of a chemical tanker, Stolt Valor, earlier this...

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