Avance Gas Ltd

Waiting for the turnaround

RESULTS Continued poor returns from the chemical tanker sector have held back profits at Stolt-Nielsen, and indications for the rest of the year are little brighter

Niels G Stolt-Nielsen, CEO of Stolt-Nielsen

Safe haven

MARKETS Gas shipping has been one of the star performers in the maritime sector in recent years. But not every LPG tanker operator has been laughing all the way to the bank, as this review of recent financial results indicates

Tanker Clipper Viking at sea

Bobbing along

RESULTS Stolt-Nielsen’s approach of having a broad spread of interests across the chemical supply chain – as well as in fish farming – have helped it remain buoyant overall during what have often been difficult trading conditions

Stolt Tank Containers

Rally round the flag

FLEETS While not quite qualifying for saviour status, LPG is nevertheless becoming something of a beacon to the beleaguered shipping industry as executives and investors pile in to the sector. Certainly, the number of shipping companies eyeing expansion – either through beefing up existing fleets or diving into the sector anew - is on the up

LPG tanker at sea

Third partner for Avance

Transpetrol Holding is to become the third equal partner in Avance Gas, the Stolt-Nielsen/Sungas LPG tanker operation.

Avance takes Maran's VLGCs

Avance Gas has confirmed brokers' reports that it has bought two VLGCs from Maran Gas Maritime, the Angelicoussis Group gas shipping arm.

Spot the difference

MARKETS Shipowners need more than anything to understand the direction the market is taking. Right now, those in the LPG tanker sector are looking at graphs that are heading the right way, says Julian Macqueen

VLGC at Sea

In transit

FLEET There is a cautious optimism in the air as the LPG sector, which has remained deadly quiet through the economic downturn, starts to move into a period of activity and recovery with potential growth in the near future

Stolt Tankers' sticky start

Stolt-Nielsen Ltd (SNL) has recorded an operating profit of $32.8m for the first quarter of its 2011 financial year, down 28 per cent on the prior quarter but up slightly on the $32.1m posted for the corresponding period in 2010.

Stolt trims fleets

Stolt-Nielsen Ltd, through its subsidiary Stolt Nielsen Gas Ltd, has agreed to merge its LPG tanker operations with those of Sungas Holdings, a privately owned Saudi company.

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