Our Performance
Operating revenue
Operating profit
Total assets
Operating revenue by business
Operating profit by business1
1. Excluding Stolt-Nielsen Gas, and Corporate and Other loss of $50.1 million.
Total assets by business
Chief Executive Officer's Review
Udo Lange
Chief Executive Officer
I am delighted to report that we have enjoyed a year of record-breaking achievements in 2024.
Business Review
Stolt Tankers1
Leading operator of deep-sea and regional chemical tankers, providing safe, high-quality and flexible global transportation services for bulk liquids
Chemical tankers
Deadweight tonnes capacity
1. Includes joint ventures and managed ships.
Stolthaven Terminals1
Leading provider of storage and handling solutions for chemicals, clean petroleum products, liquefied petroleum gases, biofuels, vegetable oils, alternative fuels and feedstocks
m3 storage capacity
Terminals
1. Includes joint ventures.
Stolt Tank Containers
Leading provider of bespoke logistics and transportation services for door-to-door shipments of bulk liquids, operating the world’s largest fleet of ISO tanks
Tank containers
Depots and hubs1
1. Includes joint ventures.
Stolt Sea Farm
One of the world’s most advanced land-based aquaculture companies, and the premier provider of high-quality turbot and sole in an environmentally sound manner
Land-based farms
Tonnes production capacity
Long-term value creation
Corporate structure
- Cost-efficient financial, strategic and other centralised services
- Efficient use of assets and focus on cost control contribute to strong cash flow generation
- Leveraging industry expertise to ensure disciplined capital allocation and prudent risk management
- Focus on providing consistent competitive cash returns to shareholders
Market-leading positions
- Businesses with leading global positions and attractive demand fundamentals
- Economies of scale to drive lower costs and offer operational flexibility to our customers
1. Sources: CKB Fleet List (2024), includes regional and barging fleet; Tankterminals.com – storage terminals that can hold both chemicals and CPP, with the Advario Stolthaven Antwerp JV terminal included in Stolthaven Terminals' asset base; ITCO Global Tank Container Fleet Survey (2024); European Fish and Seafood Sales (Statista 2025).
Expert industry knowledge
- Deep understanding of logistics, distribution and aquaculture
- Leveraging our knowledge and relationships to deliver superior growth and strong cash flow
- Long-standing, strategic partnerships with key customers
Diversified portfolio of businesses
- Best-in-class customer service, from simple logistics to integrated end-to-end liquid logistics supply chain solutions
- Multiple businesses provide flexibility to navigate industry and macro cycles
Serving significant end‑markets
- Global bulk liquid logistics businesses store and transport essential feedstocks for the consumer goods, agriculture and chemical/energy industries, as well as food-grade products
- Innovative land-based aquaculture addresses the growing demand for sustainable seafood
Sustainability
We understand that we have an important role to play in protecting our planet, and that all resources are precious.
As a global leader in the transportation and storage of products that touch every aspect of modern life, and a producer of sustainable seafood, we take our role as an essential part of the global supply chain seriously.
This year, our sustainability efforts have been recognised by EcoVadis, achieving market-leading Gold ratings for each of our logistics businesses.
Working sustainably
Stolt-Nielsen is a signatory to the United Nations Global Compact (UNGC), an initiative for businesses committed to aligning their operations with ten universally accepted principles in the areas of human rights, labour, environment and anticorruption. We also focus on the following three UN Sustainable Development Goals (SDGs): Responsible Consumption and Production, Climate Action and Life Below Water.
Our Code of Business Conduct and supporting global policies incorporate the UNGC Ten Principles, and the basic concepts of fairness, honesty and respect for people and the environment are reflected in the way we operate.
We are working to ensure we meet the EU Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS) for our Annual Report 2025. We are working with KPMG to complete our double materiality assessment (DMA). Internal stakeholders and subject experts have identified our material impacts, risks and opportunities (IROs) which we will report on next year.
Health and Safety
We have a steadfast focus on safety excellence, as taking responsibility for our people and our planet is of paramount importance. Our safety culture is driven from the top, with safety matters regularly discussed and monitored at Board level.
Our Board of Directors ensures that robust governance is in place and sufficient resources are available to assure that processes, specialist training and reporting systems help to improve safety performance.
Our management team leads by example, empowering employees to act quickly to address potentially unsafe working conditions under our Stop Work Authority programme.
Stolt Tankers
Total Recordable Case Frequency (TRCF)1,2
1. Excludes barging.
2. Per 1,000,000 hours’ exposure.
Lost Time Injury Frequency
(LTIF)1,2
1. Excludes barging.
2. Per 1,000,000 hours’ exposure.
Stolthaven Terminals
Total Recordable Case Frequency (TRCF)1
1. Per 200,000 hours’ exposure.
Lost Time Injury Frequency
(LTIF)1
1. Per 200,000 hours’ exposure.
Stolt Tank Containers
Total Recordable Case Frequency (TRCF)1
1. Per 200,000 hours’ exposure.
2. Restated to align with our other logistics divisions’ methodology for measuring TRCF.
Lost Time Injury Frequency
(LTIF)1
1. Per 200,000 hours’ exposure.
Stolt Sea Farm
Lost Time Injury Frequency
(LTIF)1
1. Per 200,000 hours’ exposure.
Environment
Stolt-Nielsen focuses on minimising the impact our operations have on the environment. We also understand that our shareholders, customers, business partners, employees and the communities in which we operate expect us to show our commitment to protecting our planet.
- Increase since prior year
- Decrease since prior year
- No change from prior year
Social
Our 7,000-strong workforce drives our success, ensuring the safe delivery of quality services and products across our divisions.
Each of our diverse, highly skilled people plays a crucial role in our ambition to be ‘Simply the Best’ for our customers, stakeholders and people. We also understand the importance of supporting the communities we operate in and that many of our employees are part of.
Speak Up Reports - By Type
- Increase since prior year
- Decrease since prior year
- No change from prior year
Downloads
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, and 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 pages 29-32. Our sustainability report uses qualitative descriptions and quantitative metrics to describe our policies, programmes, practices and performance, and to set targets. Note that many of the standards and metrics used in preparing this report continue to evolve and are based on management assumptions believed to be reasonable at the time of preparation, but should not be considered guarantees. Outlooks, projections, estimates, goals, descriptions of business and other statements of future events or conditions are forward-looking statements. All forward-looking statements are based on management’s knowledge and reasonable expectations at the time of publication, and we assume no duty to update these statements as of any future date. Actual future results could differ materially due to several factors. For a full list of these please visit: www.stolt-nielsen.com/sustainability/sustainability-reports/
