Despite continued growth in both fleet size and the demand for intermodal tanks during the first quarter of this year, the tank container division of Stolt-Nielsen Transportation Group (SNTG) once again reports that robust competition is keeping its margins under pressure.
SNTG’s tank container division’s income from operations increased to US$3.9 mill in the first quarter of 2004, up from US$3.4 mill in the first quarter of last year, but the result was still below the US$4.8 mill achieved during the first quarter of 2002 when there were 2,000 less tank containers in the fleet, reports Niels G Stolt-Nielsen, chief executive officer of parent company Stolt-Nielsen SA.
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This complete item is approximately 300 words in length, and appeared in the May 2004 issue of WorldCargo News, on page 17. To access this issue download the PDF here.
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