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More tankage helps Stolt
Originally published:  01/05/2012
Stolthaven Terminals has reported first-quarter operating revenue of $46.2m, up from $43.0m in the previous period and $35.0m in the first quarter 2011, due largely to the impact of the recent acquisition of Marstel Terminals (on October 4, 2011) and Den Hartogh's Moerdijk facility (as of January 1, 2012). The new Singapore terminal also contributed its first full quarter. Average rental rates held steady, the company reports, although utilisation slipped slightly from 98.0 per cent to 97.4 per cent.
The performance of Stolthaven was “in line with expectations”, according to Niels G Stolt-Nielsen, CEO of parent company Stolt-Nielsen Ltd.