BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry



« News Home
:: Monthly Archive

News Topics
:: Air Pollution
:: Agreements & M&A's
:: Alternative Fuels
:: BunkerBlog
:: Cargoes & Storage
:: Company News
:: Efficiency, Costs & Charges
:: Environment
:: Events
:: Financial
:: Fuel Quality & Testing
:: Lubes & Additives
:: Oil Spills
:: People
:: Port News
:: Projects
:: Regulation, Legal
:: Services, Products,Technology
:: Statistics & Research
:: Vessels

Regional Archive
:: Americas
:: Asia/Oceania
:: Europe
:: M.East/Africa


BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
Home » News



Bunker costs up $3.7m for Stolt Tankers as profit drops

Stolt Tankers also recorded a $3.8 million negative swing with a net loss on bunker hedges.





Updated on 06 Jul 2017 12:35 GMT

Stolt Tankers on Thursday posted a year-on-year dip in operating and gross profit for the second quarter ended May 31, 2017, whilst bunker costs increased during the three-month period.

Despite seeing revenue rise by $22 million, or 8.1 percent year-on-year, to $292.6 million, second-quarter operating profit dipped $0.9 million, or 3.1 percent year-on-year, to $27.6 million, whilst gross profit fell $13.5 million, or 21.8 percent, to $48.5 million.

Meanwhile, bunker expenses between March and May increased by $3.7 million. This was said to be due to the higher number of operating days, combined with an uptick in the average price of intermediate fuel oil/low sulphur fuel consumed to $316 per tonne in the latest period, up from $306 per tonne in the first quarter.

Stolt Tankers also recorded a $1.8 million net loss on bunker hedges in the second quarter, compared with $2.0 million in net gains in the first quarter - a $3.8 million negative swing. This swing was partially offset by a reduction in losses on the sale of assets of $1.6 million between the quarters, Stolt Tankers said.

Stolt Tankers saw a rise in voyage expenses, excluding bunker cost and hedges, of $4.8 million; this was said to be mostly related to port charges and barging and transhipment expenses, reflecting the increased number of operating days.

Parent company Stolt-Nielsen posted a net profit attributable to shareholders of $15.6 million; the figure was $22.3 million lower than the corresponding period last year and $0.5 million higher than the previous quarter.

Stolt-Nielsen's second-quarter revenue of $500.8 million was higher than last year ($478.9 million) and the first quarter ($475.7 million).






Related Links:

Stolt-Nielsen orders two dual-fuel ships, with options for another three

Latest News:

North America's first LNG bunker barge delivered
World Fuel Services claims enhanced client offering with launch of Falmouth jetty
Oil and fuel oil hedging market update
Sing Fuels adds bunker trader in Taiwan
Market increasingly focused on the upcoming US sanctions on Iranian oil
Top Ships' fuel-efficient 'Eco' tanker completes sea trials
Vopak and Maersk to launch 0.5%S bunkering facility in Rotterdam
Dan-Bunkering merges with Australia Bunkering
Oil and fuel oil hedging market update
SHI to build two bunker-saving LNGCs for Celsius Tankers
Oil slightly down on trade war and fears of economic slowdown
VPS issues flash point distillate alert for New York




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
Cape Town
Fujairah
Houston
Istanbul
Kaohsiung
Las Palmas
Maracaibo
New Orleans
Piraeus
Rio de Janeiro
Rotterdam
Santos
Singapore
News
Latest News
Blogs
Archive
Americas
Asia
Europe
Middle East
News
Air Pollution
Agreements & M&A's
Alternative Fuels
Cargoes & Storage
Efficiency, Costs & Charges
Environment
Events
Financial
Fuel Quality
Lubes & Additives
Oil Spills
People
Port News
Projects
Regulation/Legal
Services, Products, Technology
Statistics & Research
Vessels
Contact & Terms
Contact Us
Advertise
Terms & Conditions
Privacy Policy
Events
Upcoming Events