Stolt Nielsen – Solid performance, but weak FY26 guidance in International Shipping News 03/02/2026 Stolt-Nielsen posted its 4Q25 report this morning with results broadly line with our expectations and consensus. The company notes signs of chemical market stability entering 2026, with firm product and crude markets helping to support chemical spot rates. However, FY26 EBITDA guidance of USD 600-750m was provided, which is lower than FY25 EBITDA of USD 765m and will result in lowered estimates. Broadly in-line results Stolt-Nielsen has delivered a quarterly EBITDA of USD 183.5m. Tankers EBITDA fell about 12% from the same quarter last year. Stolt Tankers saw further weakening in earnings due to the continued geopolitical uncertainties and volatility. TCE dropped 19% to USD 24,518/day. Disappointing guidance for 2026 The prevailing themes from last year are anticipated to persist, with demand headwinds from a subdued global chemical market, geopolitical uncertainty, and the tariffs challenging SNI’s customers and impacting demand within the liquid chemical logistics industry. Rate developments in adjacent product and crude markets lends support to spot rates within the chemicals segment. However, on the supply side, the company anticipates modest net fleet growth and minimal recycling in the chemical tanker sector, which introduces a degree of uncertainty in the 2H26 when new vessels are expected to be delivered. Challenging demand drivers have seen customers take a “wait-and-see” approach on storage decisions, and this caution is expected to persist into 2026. Overall, the consolidated EBITDA for FY26 is expected to be in the range of USD 600-750m, which falls short of FY25 EBITDA of USD 765m and our current estimate of USD 779m. This figure also assumes no substantial geopolitical changes and could be subject to a number of uncertainties in a highly volatile operating environment. Source: Norne Research 2026-02-03 hellenicshippingnews... window.___gcfg = {lang: 'en-US'}; (function(w, d, s) { function go(){ var js, fjs = d.getElementsByTagName(s)[0], load = function(url, id) { if (d.getElementById(id)) {return;} js = d.createElement(s); js.src = url; js.id = id; fjs.parentNode.insertBefore(js, fjs); }; load('//connect.facebook.net/en/all.js#xfbml=1', 'fbjssdk'); load('https://apis.google.com/js/plusone.js', 'gplus1js'); load('//platform.twitter.com/widgets.js', 'tweetjs'); } if (w.addEventListener) { w.addEventListener("load", go, false); } else if (w.attachEvent) { w.attachEvent("onload",go); } }(window, document, 'script')); tweet Share