Annual Report 2022

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

Stolthaven Terminals’ 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.


m3 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 one of the world’s most advanced high-tech aquaculture companies, 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

Sustainable Growth

As an organisation that plays an essential part in the global supply chain – transporting and storing products that touch every aspect of modern life and producing sustainable seafood – we recognise the impact that our operations have on the environment, our colleagues and wider society. Sustainability is therefore integral to our strategy, underpins operations across Stolt-Nielsen and helps us deliver value to our stakeholders.

Aligning with the UN Sustainable Development Goals

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). We have the potential to make the greatest contribution to SDGs 12, 13 and 14 – Responsible Consumption and Production, Climate Action and Life Below Water – and we use these to guide our approach to sustainability.

Health and Safety

At Stolt-Nielsen, our commitment to zero harm requires a strong, safety-focused culture. This culture is driven from the top. The management team and Board of Directors ensure the correct governance is in place and appropriate resources are available to assure robust processes, specialist training and proper reporting. They receive detailed safety performance reports on a quarterly basis.

During the year, we saw Total Recordable Case Frequency (TRCF) and Lost Time Injury Frequency (LTIF) fall at Stolt Tankers. There was also some improvement across our other businesses.

Stolt Tankers

Total Recordable Case Frequency (TRCF)1

1. Per 1,000,000 hours’ exposure.


Lost Time Injury Frequency (LTIF)2

2. Per 1,000,000 hours’ exposure.

Stolthaven Terminals 

Total Recordable Case Frequency (TRCF)3

3. Per 200,000 hours’ exposure.


Lost Time Injury Frequency (LTIF)4

4. Per 200,000 hours’ exposure.

Stolt Tank Containers
Total Recordable Case Frequency (TRCF)5

5. Per 200,000 hours’ exposure.

Lost Time Injury Frequency (LTIF)6

6. Per 200,000 hours’ exposure.

Stolt Sea Farm
Average number of occupational safety incidents per worker

Serious Incidents


Stolt Tankers: 1 (2021: 0)
Stolthaven Terminals: 37 (2021: 0)
Stolt Tank Containers: 17 (2021: 0)
Stolt Sea Farm: 0 (2021: 0)

7. Stolthaven Terminals and Stolt Tank Containers both reported the same serious incident for 2022. This was a single event caused by a leak at a plant next to our terminal and depot in Moerdijk, the Netherlands. The incident directly affected five of our employees.


Stolt-Nielsen has several environmental ambitions in line with our three priority UN Sustainable Development Goals (SDGs) – Climate Action, Life Below Water and Responsible Consumption and Production.

In 2022, these SDGs guided our efforts as we enhanced our data collection and reporting capabilities, launched new initiatives, and made measurable progress towards achieving our environmental aims.

Stolt Tankers: GHG Emissions Scope 1



2022: 1,531,884 MT1
2021: 1,626,515 MT2

1. Including Scope 1 GHG emissions from E&S Tankers’ fleet.
2. Including Scope 1 GHG emissions from E&S Tankers’ fleet of 39, 803 MT CO2 in the third and fourth quarters. This fleet operates under a separate reporting system.

Stolt Tankers: GHG Emissions Scope 2 



2022: 233,892 MT
2021: 166,880 MT 

Stolt Tankers: GHG Emission Intensity (AER)3



2022: 10.91
2021: 11.06

3. 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 Terminals4: GHG Emissions Scope 1



2022: 38,649 MT
2021: 36,951 MT

4. Includes wholly-owned terminals only.

Stolthaven Terminals5: GHG Emissions Scope 2



2022: 13,228 MT
2021: 15,032 MT

5. Includes wholly-owned terminals only.

Stolt Tank Containers6: GHG Emissions Scope 1



2022: 8,054 MT
2021: 8,438 MT

6. Includes wholly-owned depots only.

Stolt Tank Containers7: GHG Emissions Scope 2



2022: 2,150 MT
2021: 3,556 MT

7. Includes wholly-owned depots only.

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


We are a diverse company comprised of four distinct divisions which store and transport the essential materials for many everyday products – as well as providing a sustainable source of seafood. But what really makes us tick? Our incredible people. You’ll find almost 7,000 of us in more than 30 countries across the globe. And we are continuing to innovate, drive quality and work together to build a sustainable business.

Number of People Employed


2021: 6,5491

1. Restated to reflect small correction to Stolt Sea Farm data.

Employees by Gender2 (Male)



2021: 67.8%

2. Excluding seafarers. Shipping is a very male-dominated industry with limited female entrants. 0.4% of our seafarer population are female.

Employees by Gender3 (Female)



2021: 32.2%

3. Excluding seafarers. Shipping is a very male-dominated industry with limited female entrants. 0.4% of our seafarer population are female.

Voluntary Employee Turnover



2021: 4.2%4

4. Restated to reflect small correction to Stolt Sea Farm data.

Speak Up Reports5


2021: 16

Stolt Tankers: 6 (2021: 4)
Stolthaven Terminals: 11 (2021: 8)
Stolt Tank Containers: 7 (2021: 0)
Stolt Sea Farm: 0 (2021: 1)
Corporate: 16 (2021: 3)

5. Function/division not specified for one Speak Up report.

Speak Up Reports - By Type

  • Fraud/Corruption: 2
  • Discrimination/Harassment: 8
  • Safety: 5
  • Compliance: 5
  • Other: 21
  • 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 57-60 of the Stolt-Nielsen Annual Report 2022.