Stolt-Nielsen reported a net profit of $51.7 million on revenue of $750.3 million for the second quarter ending May 31, 2026, representing a decrease from a net profit of $75.2 million on revenue of $712.9 million in the prior year.
The group also recorded a first-half net profit of $99.2 million, compared to $226.6 million in the first half of 2025, which had been boosted by $75.2 million in one-off gains from equity investments in Avenir LNG and Hassel Shipping 4.
Operating profit at the company's tankers division fell to $52.5 million from $70.5 million, with average deep-sea time-charter equivalent revenue declining 11 per cent to $23,372 per operating day.
Chief Executive Officer Udo Lange noted that while average freight rates were softer year-on-year, a month-on-month increase across the quarter reversed this downward trend.
Meanwhile, Stolthaven Terminals achieved a record operating profit of $29.1 million, up from $28.9 million, as utilisation levels rose to 93.4 per cent due to new business and firmer storage rates.
Conversely, Stolt Tank Containers posted an operating loss of $0.3 million, which included $4 million in integration costs for Suttons, despite achieving a 21 per cent increase in shipments.
The company's corporate and other activities, which include Stolt Sea Farm and Stolt-Nielsen Gas, recorded an operating profit of $12.5 million. This represents an increase from the $2.1 million operating profit reported in the second quarter of 2025.
Discussing operational challenges, Lange explained that the global logistics network supported chemical customers through "considerable disruption due to the closure of the Strait of Hormuz".
He noted, "Our businesses have been navigating the current uncertainty by taking a prudent, disciplined approach, which has resulted in broadly stable performance despite the market shock in the Middle East."