Annual Report 2021

Business Review

Stolt Tankers1

Stolt Tankers operates the world’s largest fleet of chemical tankers, providing safe, reliable and high-quality global transportation services for bulk-liquid chemicals, edible oils, acids and clean petroleum products.


deep-sea parcel tankers


coastal and inland tankers


total deadweight tonnes

1. Includes joint ventures and managed ships.

Stolthaven Terminals

Our 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.


cubic metres of storage capacity1


wholly owned terminals


joint-venture terminals

1. Includes joint ventures.

Stolt Tank Containers1

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 in the fleet




depots and hubs

1. Includes joint ventures.

Stolt Sea Farm

Stolt Sea Farm is the world’s most advanced high-tech aquaculture company, and the premier provider of high-quality turbot and sole in an environmentally sound manner.


land-based fish farms


tonnes turbot production capacity


tonnes sole production capacity

Stolt-Nielsen Gas1

Investing in opportunities to ship and distribute Liquefied Natural Gas (LNG).


ownership of Avenir LNG


ownership of Cool Company Ltd


ownership of Golar LNG

1. As at March 14, 2022. 

Growing Sustainably

As an organisation that stores and transports raw materials for many everyday products – and produces a sustainable food source at our fish farms – we recognise the impact that our operations have on the environment, our communities, our colleagues and external stakeholders. Sustainability is therefore integrated with our strategy and underpins operations across Stolt-Nielsen.

Our Annual Report has been prepared in accordance with the GRI core standard option and covers several of the Sustainability Accounting Standards Board (SASB) sustainability topics for marine transportation. During the year, we also began our climate change risk assessment using the Task Force on Climate-related Financial Disclosures (TCFD) framework.

Aligning with global best practices

Stolt-Nielsen is a signatory of the UN Global Compact and we are working to reduce our environmental impact in line with its objectives and the UN Sustainable Development Goals (SDGs).

Stolt-Nielsen has the potential to make the greatest contribution to three SDGs – Responsible Consumption and Production, Climate Action, and Life Below Water – and we use them to guide our approach to sustainability.

Assessing our impact

During 2021 we surveyed a broad range of stakeholders across all our businesses, including customers and investors, as part of our materiality assessment process. The results of these surveys were then used to identify key sustainability themes to focus on in our strategy and reporting.

The resulting materiality diagram (pictured) illustrates the relative importance of the material topics identified by both internal and external stakeholders. Our sustainability strategy is aligned to these topics, and in 2021 we established additional data baselines for priority areas so we can more effectively measure our progress.

The coloured dots closest to the centre are areas that Stolt-Nielsen can impact most directly. Our ability to impact each area decreases as you move from the centre of the diagram outwards.

Health and Safety

Stolt-Nielsen is committed to achieving zero harm across all operations. Our commitment drives a safety-focused culture rooted in sound governance, robust processes, specialist training, incident management and reporting.

During 2021, we saw improvements in both overall Total Recordable Case Frequency (TRCF) and Lost Time Injury Frequency (LTIF) rates across our logistics businesses: TRCF fell to 1.80 (2020: 2.34) and LTIF fell to 0.77 (2020: 0.89).


Stolt-Nielsen has far-reaching environmental ambitions. From emissions reduction and energy efficiency to waste management and water conservation, we take a strategic approach to improving our performance.

2021 was a defining year, with comprehensive efforts to establish environmental data baselines and reporting practices that will help us measure our progress and achieve our ambitions.

Stolt Tankers: GHG Emissions Scope 1



2021: 1,626,515 MT1
2020: 1,720,663 MT2

1. Including Scope 1 greenhouse gas (GHG) emissions from E&S Tankers' fleet of 39,803 MT COin the third and fourth quarters. This fleet operates under a separate data reporting system.
2. Excluding Scope 1 GHG from SNITS (inland tankers) subsidiary of 91,383 MT CO2. This fleet operates under a separate data reporting system.

Stolthaven Terminals: GHG Emissions Scope 1 and 21



2020: 108,884 MT
2021: 108,947 MT

1. Includes joint ventures

Stolt Tank Containers: GHG Emissions Scope 11



2021: 11,972 MT
2020: 13,426 MT

1. Includes depots only.

Stolt Tankers: GHG Emission Intensity (AER)1



2021: 11.06
2020: 11.44

1. Stolt Tankers uses the Annual Efficiency Ratio (AER) to measure the intensity of its carbon emissions. This measures carbon emissions relative to a ship’s capacity and distance travelled. 

Stolthaven Terminals: Water Consumption1



2021: 430,000m3
2020: 360,000m3

1. Includes joint ventures

Stolt Tank Containers: Water Consumption1



2021: 112,100m3
2020: 127,800m3

  • Negative change from prior year
  • Positive change from prior year
  • No change from prior year


Our people continued to demonstrate remarkable commitment and resilience during the second year of the pandemic. We enhanced our support in areas such as wellbeing, performance management and training to help them to rise to new challenges.

Number of People Employed


2020: 6,402

Senior Managers by Gender (Male)



2020: 79.6%

Senior Managers by Gender (Female)



2020: 20.4%

Voluntary Employee Turnover (%)

2020: 3.0%

Speak Up Reports - By Type

2020: 15 in total. 

Speak Up Reports - By Business

2020: 15 in total. 

  • Increase since prior year
  • Decrease since prior year
  • No change from prior year


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 page 60-62 of the Stolt-Nielsen Annual Report 2021.