Stolt-Nielsen Limited posted a sharp rise in third-quarter net profit, helped by a gain from the sale of part of its Avenir LNG stake, while underlying earnings remained broadly steady despite a challenging market environment.
The Oslo-listed shipping and logistics group reported third-quarter net profit of $84.4 million, up from $64.0 million a year earlier. Revenue rose to $776.5 million, from $699.9 million in the same period of 2025.
The quarter’s net profit included a $15.4 million gain from the sale of a 50% interest in Avenir LNG Limited.
For the first nine months of 2026, however, net profit fell to $183.6 million, from $290.6 million a year earlier. The 2025 figure benefited from $75.2 million in one-off gains linked to the step-up of equity investments in Avenir LNG and Hassel Shipping 4.
Underlying group performance was relatively resilient. Consolidated EBITDA increased to $194.1 million from $191.7 million, while earnings per share climbed to $1.59, from $1.20.
The performance across Stolt-Nielsen’s businesses was mixed.
Stolt Tankers reported operating profit of $52.1 million, down from $57.2 million, as lower volumes and higher bunker costs outweighed firmer average freight rates. Average deep-sea time-charter equivalent revenue fell to $24,121 per operating day, from $24,838.
Stolthaven Terminals delivered a stronger quarter, with operating profit rising to $27.1 million from $26.3 million, supported by higher utilisation.
Stolt Tank Containers also improved, with operating profit increasing to $13.1 million from $11.7 million. The company said continued integration of the Suttons business, greater scale and margin improvements helped STC return to operating profit during the quarter.
Udo Lange, Chief Executive Officer of Stolt-Nielsen Limited, said: "I am pleased to report underlying operating performance broadly in line with last year, and an improvement on the prior quarter, despite a challenging macro backdrop. Global supply chains are complex, and visibility remains short. Customer conversations have evolved from supply chain efficiency to supply chain resilience. Our portfolio allows us to offer the flexibility of shipping, storage, and intermodal solutions to support our customers’ logistics needs.
“In the third quarter, Stolt Tankers earnings declined year-on-year, but were stable versus the prior quarter, with firmer average freight rates offset by lower volumes and higher bunker costs. Stolthaven Terminals increased utilisation and operating profit year-on-year. Stolt Tank Containers (STC) continues to integrate the Suttons business, increasing scale, broadening the product offering, and extending market reach. Together with margin improvement, this supported a return to an operating profit this quarter for STC.
“Stolt Magnesium was subject to an attack off Oman in July. We have insurance cover and expect minimal financial impact on the Company and, importantly, I am relieved that our seafarers suffered no physical injuries and the cargo was secured. During the quarter, we completed the sale of a 50% interest in Avenir LNG to NYK Line, creating a strategic partnership to accelerate growth in small-scale LNG and LNG bunkering.”
The results underline a steady underlying performance despite weak visibility and persistent pressure across global markets, with stronger terminal and tank-container operations partly offsetting softer tanker earnings.
Stolt-Nielsen said the Avenir LNG transaction with NYK Line will create a strategic partnership aimed at accelerating growth in small-scale LNG and LNG bunkering.
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