Q3 report shows stable Stolt-Nielsen performance, but Q4 freight rates lower due to U.S. strike, rising iron ore prices, and geopolitical tensions.

Stolt-Nielsen's Q3 report indicates stable performance, mainly due to transit restrictions in the Red Sea, but anticipates a decline in Q4 from lower freight rates. A dockworker strike at U.S. ports since October 1 has caused significant delays and an estimated $4.5 billion daily economic impact. Meanwhile, iron ore prices have risen due to China's economic stimulus, and the VLCC market shows upward trends despite geopolitical tensions.

October 06, 2024
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