Stolt rings the changes

Stolt-Nielsen is to split its main chemical transport and logistics division into separate chemical tanker and tank container units in a bid to achieve greater operating efficiencies. Stolt-Nielsen Transportation Group (SNTG) is being divided into Stolt Tankers & Terminals (ST&T) and Stolt Tank Containers (STC).

Stolt Tank Containers (STC) has come a long way since it was established in May 1982 with the purchase of United Tank Containers (UTC) and its 400 tanks. Tank container transport was then in its infancy and management felt lucky to achieve a fleet utilisation rate of 42% over the first year, as they struggled to market the tank concept to hesitant chemical shippers worldwide.

Stolt-Nielsen Transportation Group (SNTG) has acquired Ermefer, the Geneva-based foodgrade tank container operations business of Group Ermewa SA. The transaction adds nearly 300 tanks to the Stolt Tank Container division’s foodgrade fleet. Financial terms were not disclosed.

Stolt-Nielsen Transportation Group (SNTG)’s results for the second quarter of 2003 show that the utilisation rate for its fleet of intermodal tank containers climbed to a new record of 81.5 percent.

Reflecting the general situation in the tank container market, Stolt-Nielsen Transportation Group (SNTG) reports that despite strengthening markets during the first quarter of the year, it was unable to pass on the full extent of increased tank container freight costs to its customers.

First quarter 2002 results for the Stolt-Nielsen Transportation Group’s tank container division (STC) show little change to those posted for the same period a year ago, reflecting the continued depressed state of the tank market.