Our Performance
Operating revenue
Operating profit
Net profit
Operating revenue by business
(US $ millions)
Operating profit by business1
(US $ millions)
1. Excludes Stolt-Nielsen Gas, Corporate and Other loss of $42.9 million and $155.0 million one-off item in Stolt Tank Containers, related to MSC Flaminia legal claim.
Total assets by business
(US $ millions)
Chief Executive Officer's Review
Udo Lange
Chief Executive Officer
I am impressed with the strength of our businesses and the leading positions we enjoy in our markets. We are relentlessly focused on our robust strategy and its execution. I look forward to building on this positive energy as we drive the company forward.
Business Review
Stolt Tankers1
Stolt Tankers operates the world’s largest fleet of parcel tankers, providing safe, reliable and high-quality global transportation services for bulk-liquid chemicals, edible oils, acids and clean petroleum products.
deep-sea chemical tankers
coastal and inland tankers
total deadweight tonnes
1. Includes joint ventures and managed ships.
Stolthaven Terminals
Stolthaven Terminals’ global terminal network provides safe, high-quality storage and distribution services for chemicals, clean petroleum products, gas, vegetable oils, biofuels and oleochemicals in key markets and hubs worldwide.
m3 of storage capacity1
wholly owned terminals
joint-venture terminals
1. Includes joint ventures.
Stolt Tank Containers
Stolt Tank Containers is a leading provider of logistics and transportation services for door-to-door shipments of bulk-liquid chemicals and food-grade products.
tank containers
shipments
depots1
1. Includes joint ventures.
Stolt Sea Farm
Stolt Sea Farm is one of the world’s most advanced high-tech aquaculture companies, and the premier provider of high-quality turbot and sole in an environmentally sound manner.
land-based farms
tonnes turbot production capacity
tonnes sole production capacity
Long-term value generation
Market-leading positions
- Businesses with leading global positions and attractive demand fundamentals
- Economies of scale to drive lower costs and offer operational flexibility to our customers
Serving significant end‑markets
- Our logistics businesses store and transport essential feedstocks for the consumer goods, agriculture and chemical/energy industries
- Land-based aquaculture addresses the rapidly growing demand for sustainable seafood
1. Stainless steel ships >19k DWT (CKB Fleet List, July 2023).
2. Independent global storage terminals that can hold both chemicals and CPP (TankTerminals.com).
3. Global tank operators’ fleet (ITCO Global Tank Container Fleet Survey 2023).
4. European farmed and wild catch volumes for turbot and sole (FAO 2023).
Diversified portfolio of businesses
- Best-in-class customer service, from singular logistics to integrated product offerings
- Multiple businesses provide flexibility to navigate industry and macro cycles
Strong cash-flow generation
- Efficient asset utilisation and focus on cost control contribute to strong cash-flow generation
Disciplined approach to capital allocation
- Leveraging industrial expertise to ensure disciplined capital allocation and prudent risk management
- Focus on providing consistent competitive cash returns to shareholders
Sustainable Growth
Our operations span the globe – with 7,000 people in more than 30 countries, we support our customers in many ways. As a global leader in the transportation and storage of products that touch every aspect of modern life and a producer of sustainable seafood, we take our role as an essential part of a sustainable global supply chain seriously.
This includes managing the impact that our operations have on the environment, our colleagues and wider society. Sustainability and safety are, therefore, the foundations of our strategy and are integral to everything we do. This year our commitment to sustainability was recognised through a gold EcoVadis rating for Stolt Tankers and silver rating for Stolthaven Terminals. In January 2024, we were pleased that Stolt Tank Containers also received a gold rating.
Supporting the UN Sustainable Development Goals
As a signatory of the UN Global Compact, Stolt-Nielsen is working to reduce its environmental impact in line with the following UN Sustainable Development Goals (SDGs): Responsible Consumption and Production, Climate Action and Life Below Water.
We believe that partnerships are central to reaching our sustainability ambitions. By working together with our customers, suppliers, investors, employees, industry groups and communities we can make the greatest contribution to safeguarding our shared future.
Health and Safety
Our ability to grow sustainably and deliver the high-quality, flexible products and services that our customers expect depends upon the safety of our operations. Our safety culture is driven from the top, where our management teams empower employees to act if they feel that any working conditions are unsafe.
During the year, Total Recordable Case Frequency (TRCF) fell at Stolthaven Terminals while Stolt Tankers’ already low TRCF was stable. Lost Time Injury Frequency (LTIF) slightly increased at both Stolt Tankers and Stolthaven Terminals. Stolt Tank Containers established new safety baselines during the year to include all contractors and their related working hours.
Stolt Tankers
Total Recordable Case Frequency (TRCF)1
1. Per 1,000,000 hours’ exposure.
Lost Time Injury Frequency (LTIF)1
1. Per 1,000,000 hours’ exposure.
Stolthaven Terminals
Total Recordable Case Frequency (TRCF)1
1. Per 200,000 hours’ exposure.
2. Restated due to inclusion of all incidents at our terminals involving contractors.
Lost Time Injury Frequency (LTIF)1
1. Per 200,000 hours’ exposure.
2. Restated due to inclusion of all incidents at our terminals involving contractors.
Stolt Tank Containers
Total Recordable Case Frequency (TRCF)1
1. Per 200,000 hours’ exposure.
2. Restated in line with new baseline to include all contractors and their workable hours.
Lost Time Injury Frequency (LTIF)1
1. Per 200,000 hours’ exposure.
2. Restated in line with new baseline to include all contractors and their workable hours.
Stolt Sea Farm
Average number of occupational safety incidents per 100 workers
Environment
Stolt-Nielsen is committed to minimising the impact our operations have on the environment. We also understand that our customers, business partners, employees and the communities in which we operate expect us to demonstrate our commitment to protecting our planet.
We have several environmental ambitions across our operations, and we have defined these in line with our three priority UN Sustainable Development Goals (SDGs) – Climate Action, Life Below Water and Responsible Consumption and Production. Together, they guide our efforts and progress towards achieving our environmental ambitions.
- Increase since prior year
- Decrease since prior year
- No change from prior year
People
Our people drive the success of our company and deliver Stolt-Nielsen’s world-leading services and products across our four divisions. Every one of our employees – which number almost 7,000 – plays an important role in helping us achieve our purpose, lead in our markets, realise new opportunities and perform at our best, every day.
Speak Up Reports - By Type
- Increase since prior year
- Decrease since prior year
- No change from prior year
Downloads
Forward-looking statements
Included in this publication are various ‘forward-looking statements’, including statements regarding the intent, opinion, belief or current expectations of the Company or its management with respect to, among other things, (i) goals and strategies, (ii) plans for new development, (iii) marketing plans, the Company’s target markets, (iv) evaluation of the Company’s markets, competition and competitive positions, and (v) trends which may be expressed or implied by financial or other information or statements contained herein. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other facts that may cause the actual results, performance and outcomes to be materially different for any future results, performance or outcomes expressed or implied by such forward-looking statements. These factors include in particular, but are not limited to, the matters described in the Principal Risks section on pages 32-35. Our sustainability report uses qualitative descriptions and quantitative metrics to describe our policies, programmes, practices, performance and to set targets. Note that many of the standards and metrics used in preparing this report continue to evolve and are based on management assumptions believed to be reasonable at the time of preparation, but should not be considered guarantees. All forward-looking statements are based on management’s knowledge and reasonable expectations at the time of publication, and we assume no duty to update these statements as of any future date. Outlooks, projections, estimates, goals, descriptions of business and other statements of future events or conditions that are forward-looking statements. Actual future results could differ materially due to several factors. For a full list of these please visit: www.stolt-nielsen.com/sustainability/sustainability-reports/
