Stolt-Nielsen reported a net profit of $47.5 million on revenue of $716.8 million for the first quarter ending February 28, 2026. This performance compared with a net profit of $151 million recorded during the same period in 2025, a result that included $75 million in one-off gains related to equity investments.
The company stated that its non‑tanker portfolio contributed 44 per cent of quarterly earnings, which demonstrated the benefit of a diversified business model. Chief Executive Officer Udo Lange noted that the recent conflict in the Middle East has had no impact on these results, adding that, “none of our ships are locked in the Strait of Hormuz.”
Within the shipping division, Stolt Tankers saw increased spot and contract volumes despite challenging market conditions. However, time-charter equivalent earnings dropped 15 per cent to $23,627 per operating day due to ongoing weaker freight rates, according to the company.
Stolthaven Terminals recorded an operating profit of $29 million, which matched the figures from the same quarter last year. The business maintained stable utilisation and implemented rate increases to offset rising inflationary costs.
Stolt Tank Containers reported an operating loss of $5 million, including $5 million in integration costs related to the Suttons acquisition. While shipments increased by 31 per cent, the business faced what it described as “a tough competitive environment.”
The corporate segment, which includes Stolt Sea Farm and Stolt-Nielsen Gas, reported an operating profit of $8 million. This figure represented an improvement from the $2 million loss recorded in the first quarter of the previous year.
Earlier in March, Stolt-Nielsen announced the formation of a joint venture with Nippon Yusen Kabushiki Kaisha (NYK Line) in Avenir LNG. This agreement involves the sale of a 50 per cent equity stake to the said partner to expand small-scale liquefied natural gas opportunities and reduce debt.
A terminal joint venture in Kaohsiung, Taiwan, also commenced operations with more than 60,000 cubic metres of storage capacity.
The company's management noted it is currently monitoring the Middle East conflict and its potential effect on transits through the Strait of Hormuz.