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Stolt-Nielsen posts fourth-quarter profit decline, lower fuel costs to boost earnings this year

11:54 AM MST | January 29, 2015 | Ian Young

Stolt-Nielsen says its fourth-quarter 2014 net profit attributable to shareholders plunged to $13 million from $35 million in the corresponding quarter of 2013, on revenue of $532 million, up year-on-year (YOY) from $524 million. Stolt says that, excluding...


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Mitsui secures two more ships for US LNG export project

Mitsui & Co. has signed two time-charter contracts for liquefied natural gas (LNG) ships slated for the Cameron LNG export project in Louisiana, the company announced today. The contracts were signed with subsidiaries of Mitsui OSK Lines (Tokyo) and...

Highfield Resources signs MOU with a second Spanish port

Highfield Resources (Pamplona, Spain) has signed a memorandum of understanding (MOU) with the Port Authority of Bilbao, Spain. The MOU confirms the availability of 25,000 sq meters of wharf space in the port for the construction of potash handling...

Australian firm signs potash export MOU with port authority in Spain

Highfield Resources (Pamplona, Spain) has signed a memorandum of understanding (MOU) with the port authority of Passaia/Pasajés, northern Spain, the company announced today. The MOU provides a nonbinding commitment of port capacity for all of the...

Petrobras ships first naphtha cargo from new Brazil refinery

Petrobras concluded the first naphtha shipment out of the company's newly completed Abreu e Lima refinery, in Brazil, earlier this week. The naphtha delivery is for Braskem, Petrobras says. A total of 56,650 cubic meters of naphtha had been produced at the...

Odfjell to cut jobs in restructuring plan, CEO steps down

Odfjell says that its board has approved a restructuring program that is expected to result in annualized improvements in the company's net profit of more than $100.0 million by 2016. The program will feature cost-saving initiatives related to operating...

Reliance inks shipping deal with Mitsui OSK to import ethane from North America

Reliance Industries announced today that it has signed shipping agreements with Mitsui OSK Lines (MOL; Tokyo), one of the world’s largest shipping companies, for transporting liquefied ethane from North America to India. MOL will supervise the...

Stolt-Nielsen founder retires from company's board

Jacob Stolt-Nielsen will retire from the board of Stolt Nielsen Ltd. (SNL) on 15 December, 55 years to the day since he founded the company. He will continue as honorary chairman of SNL. Stolt-Nielsen, 83, conceived the innovative designs that led to the...

Odfjell swings to a net loss on reduced spot trading, lower freight rates

Odfjell posted a net loss of $9 million for the third quarter, compared with a $9-million net profit in the corresponding period last year, on revenue of $267 million, up from $259 million one year earlier. Ebitda at Odfjell's chemical tankers business sank...

New vessels launched to ship Sabic's ethylene produced in the UK

Two new liquefied natural gas (LNG) powered sea vessels were launched on Teesside today. Operated by shipowner Anthony Veder, the new ships will carry liquefied ethylene gas from Sabic’s Wilton, UK facility to manufacturing plants in Northwest Europe...

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