• ITVI.USA
    15,868.670
    8.820
    0.1%
  • OTLT.USA
    2.774
    0.001
    0%
  • OTRI.USA
    21.470
    0.010
    0%
  • OTVI.USA
    15,873.680
    8.980
    0.1%
  • TSTOPVRPM.CHIATL
    2.960
    -0.660
    -18.2%
  • TSTOPVRPM.PHLCHI
    2.100
    -0.250
    -10.6%
  • TSTOPVRPM.DALLAX
    1.610
    0.250
    18.4%
  • TSTOPVRPM.LAXDAL
    3.340
    -0.130
    -3.7%
  • TSTOPVRPM.LAXSEA
    3.860
    -0.220
    -5.4%
  • TSTOPVRPM.ATLPHL
    3.520
    0.380
    12.1%
  • WAIT.USA
    126.000
    -2.000
    -1.6%
  • ITVI.USA
    15,868.670
    8.820
    0.1%
  • OTLT.USA
    2.774
    0.001
    0%
  • OTRI.USA
    21.470
    0.010
    0%
  • OTVI.USA
    15,873.680
    8.980
    0.1%
  • TSTOPVRPM.CHIATL
    2.960
    -0.660
    -18.2%
  • TSTOPVRPM.PHLCHI
    2.100
    -0.250
    -10.6%
  • TSTOPVRPM.DALLAX
    1.610
    0.250
    18.4%
  • TSTOPVRPM.LAXDAL
    3.340
    -0.130
    -3.7%
  • TSTOPVRPM.LAXSEA
    3.860
    -0.220
    -5.4%
  • TSTOPVRPM.ATLPHL
    3.520
    0.380
    12.1%
  • WAIT.USA
    126.000
    -2.000
    -1.6%
American Shipper

STOLT-NIELSEN’S NET INCOME DROPS SHARPLY

STOLT-NIELSEN’S NET INCOME DROPS SHARPLY

   Stolt-Nielsen S.A. reported third quarter net income of $13.7 million,
down 73.3 percent from year-earlier totals, despite only a marginal decline in net
operating revenue.
   Net operating revenue was $475.79 million, for the quarter ending Aug. 31,
compared to $478.37 million for the year-earlier period.
   The third-quarter results reflected a change in dry-docking accounting
policy for subsidiary Stolt Comex Seaway S.A.
   For the nine-month period, the liquid bulk carrier reported net income
of $31.5 million, down 219 percent from the year-earlier period. New
operating revenue was $1.335 billion, up 3.2 percent from 1998.
   The 1999 results included a one-time gain of $3.78 million from the sale of
tank containers. The 1998 results included one-time gains from a
$10.2-million insurance settlement and sale of other assets totaling $2.16 million.

We are glad you’re enjoying the content

Sign up for a free FreightWaves account today for unlimited access to all of our latest content

By signing in for the first time, I give consent for FreightWaves to send me event updates and news. I can unsubscribe from these emails at any time. For more information please see our Privacy Policy.