SNI.OL Stolt-Nielsen

Chemical · Chemical · 52 documents

Owned fleet — dated snapshot, not current: 100 owned ships as of 2025-11-30. 2025Q4 · historical snapshot Source: “Inferred arithmetic from FY2025 annual report, published 2026-03-18, fleet table as of November 30, 2025: 'Stolt Tankers Limited (61 owned ships)'; 'Ships in wholly owned regional services (28 owned ships)'; 'Ships in joint venture regional services (22 owned by joint ventures and associates and 11 owned by the Group)'. 61 + 28 + 11 = 100 Group-owned chemical ships. Excludes JV/associate-owned ships, chartered vessels and pool partners. Fiscal Q4 snapshot, not December 31” source

Historical owned chemical tanker snapshot; issuer fiscal quarters end in February, May, August and November.

Reporting basis & limitations

Revenue and net income are consolidated group results, not vessel economics or a vessel cash bridge.

Issuer fiscal quarter 2026Q2 covers 2026-03-01 to 2026-05-31 inclusive, November 30 year-end; published 2026-07-09. Raw source: Exact issuer quote (whitespace normalised): "The Company reported a second-quarter net profit of $51.7 million with revenue of $750.3 million, compared with a net profit of $75.2 million with revenue of $712.9 million in the second quarter of 2025." The current-quarter USD-thousands rows print "Revenue 750,277$", "Equity holders of SNL 51,633$" and "Non-controlling interests 48"; both NI pins use attributable $51.633m, not total profit $51.681m or first-half profit

Revenue, attributable NI, G&A and interest are consolidated across tankers, terminals, tank containers, sea farm/gas and corporate/other, not a chemical vessel cash bridge. The source prints "Administrative and general expenses (83,419)", "Finance expense - finance leases (5,098)" and "Finance expense - debt (28,788)" (USD thousands). Group G&A is $83.419m and gross P&L finance costs are $33.886m (debt plus leases, before finance income); neither is allocated to tanker-only cash costs, so G&A ($M) and interest expense ($M) remain null

Named absence: no verified tanker-only vessel-owning opex or mandatory principal repayment bridge; voyage costs, charter hire, capex and depreciation are not supported on a matching chemical-vessel cash-bridge basis and remain null. Tanker segment operating expenses include voyage and charter costs, not narrow vessel opex; diversified group costs must not fill these fields. Deep-sea STJS TCE is not an all-chemical-vessel rate; average realized TCE ($/day) and benchmark TCE ($/day) are explicitly null rather than pooling it

Tanker-only opex, G&A, interest and mandatory principal are not verified.

Chemical benchmark rate missing. Segment TCE prints are not an all-chemical-vessel rate.

Current owned fleet unknown.

Reported periodMonthsRevenue basis / as ofSources & reconciliation
2026Q2Mar–Mayconsolidated group figures; issuer fiscal quarter 2026Q2; 2026-03-01 to 2026-05-31; November 30 year-end source 1 insufficient data for an earnings bridge; consolidated-group figures span more than the segment modelled; tanker-only opex and scheduled principal not on file; group G&A and interest not allocated to the fleet
2026Q1Dec–Febconsolidated group figures; issuer fiscal quarter 2026Q1; 2025-12-01 to 2026-02-28; November 30 year-end source 1 insufficient data for an earnings bridge; consolidated-group figures span more than the segment modelled; tanker-only opex and scheduled principal not on file; group G&A and interest not allocated to the fleet
2025Q4Sep–Novconsolidated group figures; issuer fiscal quarter 2025Q4; 2025-09-01 to 2025-11-30; November 30 year-end source 1 insufficient data for an earnings bridge; consolidated-group figures span more than the segment modelled; tanker-only opex and scheduled principal not on file; group G&A and interest not allocated to the fleet
2025Q3Jun–Augconsolidated group figures; issuer fiscal quarter 2025Q3; 2025-06-01 to 2025-08-31; November 30 year-end source 1 insufficient data for an earnings bridge; consolidated-group figures span more than the segment modelled; tanker-only opex and scheduled principal not on file; group G&A and interest not allocated to the fleet
2025Q2Mar–Mayconsolidated group figures; issuer fiscal quarter 2025Q2; 2025-03-01 to 2025-05-31; November 30 year-end source 1 insufficient data for an earnings bridge; consolidated-group figures span more than the segment modelled; tanker-only opex and scheduled principal not on file; group G&A and interest not allocated to the fleet
2025Q1Dec–Febconsolidated group figures; issuer fiscal quarter 2025Q1; 2024-12-01 to 2025-02-28; November 30 year-end source 1 insufficient data for an earnings bridge; consolidated-group figures span more than the segment modelled; tanker-only opex and scheduled principal not on file; group G&A and interest not allocated to the fleet
Reporting-period source notes

2026Q2

Issuer fiscal quarter 2026Q2 covers 2026-03-01 to 2026-05-31 inclusive, November 30 year-end; published 2026-07-09. Raw source: Exact issuer quote (whitespace normalised): "The Company reported a second-quarter net profit of $51.7 million with revenue of $750.3 million, compared with a net profit of $75.2 million with revenue of $712.9 million in the second quarter of 2025." The current-quarter USD-thousands rows print "Revenue 750,277$", "Equity holders of SNL 51,633$" and "Non-controlling interests 48"; both NI pins use attributable $51.633m, not total profit $51.681m or first-half profit

Revenue, attributable NI, G&A and interest are consolidated across tankers, terminals, tank containers, sea farm/gas and corporate/other, not a chemical vessel cash bridge. The source prints "Administrative and general expenses (83,419)", "Finance expense - finance leases (5,098)" and "Finance expense - debt (28,788)" (USD thousands). Group G&A is $83.419m and gross P&L finance costs are $33.886m (debt plus leases, before finance income); neither is allocated to tanker-only cash costs, so G&A ($M) and interest expense ($M) remain null

Named absence: no verified tanker-only vessel-owning opex or mandatory principal repayment bridge; voyage costs, charter hire, capex and depreciation are not supported on a matching chemical-vessel cash-bridge basis and remain null. Tanker segment operating expenses include voyage and charter costs, not narrow vessel opex; diversified group costs must not fill these fields. Deep-sea STJS TCE is not an all-chemical-vessel rate; average realized TCE ($/day) and benchmark TCE ($/day) are explicitly null rather than pooling it

2026Q1

Issuer fiscal quarter 2026Q1 covers 2025-12-01 to 2026-02-28 inclusive, November 30 year-end; published 2026-04-09. Raw source: Exact issuer quote (whitespace normalised): "The Company reported a first-quarter net profit of $47.5 million with revenue of $716.8 million, compared with a net profit of $151.4 million with revenue of $675.6 million in the first quarter of 2025, which included $75.2 million in one-off gains related to the step-up of equity investments in Avenir LNG Limited (Avenir LNG) and Hassel Shipping 4 (HS4)." The current-quarter USD-thousands rows print "Revenue 716,816$", "Equity holders of SNL 47,467$" and "Non-controlling interests 43"; both NI pins use attributable $47.467m, not total profit $47.510m

Revenue, attributable NI, G&A and interest are consolidated across tankers, terminals, tank containers, sea farm/gas and corporate/other, not a chemical vessel cash bridge. The source prints "Administrative and general expenses (89,171)", "Finance expense - finance leases (5,521)" and "Finance expense - debt (31,641)" (USD thousands). Group G&A is $89.171m and gross P&L finance costs are $37.162m (debt plus leases, before finance income); neither is allocated to tanker-only cash costs, so G&A ($M) and interest expense ($M) remain null

Named absence: no verified tanker-only vessel-owning opex or mandatory principal repayment bridge; voyage costs, charter hire, capex and depreciation are not supported on a matching chemical-vessel cash-bridge basis and remain null. Tanker segment operating expenses include voyage and charter costs, not narrow vessel opex; diversified group costs must not fill these fields. Deep-sea STJS TCE is not an all-chemical-vessel rate; average realized TCE ($/day) and benchmark TCE ($/day) are explicitly null rather than pooling it

2025Q4

Issuer fiscal quarter 2025Q4 covers 2025-09-01 to 2025-11-30 inclusive, November 30 year-end; published 2026-01-28. Raw source: Exact issuer quote (whitespace normalised): "The Company reported a fourth-quarter net profit of $59.6 million with revenue of $680.6 million, compared with a net profit of $91.4 million with revenue of $709.4 million in the fourth quarter of 2024." The current-quarter USD-thousands rows print "Revenue 680,603$" and "Net Profit 59,550$"; these are discrete-quarter figures, not full-year totals or prior-year comparatives

Revenue, attributable NI, G&A and interest are consolidated across tankers, terminals, tank containers, sea farm/gas and corporate/other, not a chemical vessel cash bridge. The source prints "Administrative and general expenses (82,808)", "Finance expense - finance leases (5,072)" and "Finance expense - debt (29,648)" (USD thousands). Group G&A is $82.808m and gross P&L finance costs are $34.720m (debt plus leases, before finance income); neither is allocated to tanker-only cash costs, so G&A ($M) and interest expense ($M) remain null

Named absence: no verified tanker-only vessel-owning opex or mandatory principal repayment bridge; voyage costs, charter hire, capex and depreciation are not supported on a matching chemical-vessel cash-bridge basis and remain null. Tanker segment operating expenses include voyage and charter costs, not narrow vessel opex; diversified group costs must not fill these fields. Deep-sea STJS TCE is not an all-chemical-vessel rate; average realized TCE ($/day) and benchmark TCE ($/day) are explicitly null rather than pooling it

2025Q3

Issuer fiscal quarter 2025Q3 covers 2025-06-01 to 2025-08-31 inclusive, November 30 year-end; published 2025-10-02. Raw source: Exact issuer quote (whitespace normalised): "The Company reported a third-quarter net profit of $64.0 million with revenue of $699.9 million, compared with a net profit of $99.2 million with revenue of $732.8 million in the third quarter of 2024." The current-quarter USD-thousands rows print "Revenue 699,880$" and "Net Profit 63,969$"; these are discrete-quarter figures, not nine-month totals or prior-year comparatives

Revenue, attributable NI, G&A and interest are consolidated across tankers, terminals, tank containers, sea farm/gas and corporate/other, not a chemical vessel cash bridge. The source prints "Administrative and general expenses (74,617)", "Finance expense - finance leases (5,048)" and "Finance expense - debt (31,177)" (USD thousands). Group G&A is $74.617m and gross P&L finance costs are $36.225m (debt plus leases, before finance income); neither is allocated to tanker-only cash costs, so G&A ($M) and interest expense ($M) remain null

Named absence: no verified tanker-only vessel-owning opex or mandatory principal repayment bridge; voyage costs, charter hire, capex and depreciation are not supported on a matching chemical-vessel cash-bridge basis and remain null. Tanker segment operating expenses include voyage and charter costs, not narrow vessel opex; diversified group costs must not fill these fields. Deep-sea STJS TCE is not an all-chemical-vessel rate; average realized TCE ($/day) and benchmark TCE ($/day) are explicitly null rather than pooling it

2025Q2

Issuer fiscal quarter 2025Q2 covers 2025-03-01 to 2025-05-31 inclusive, November 30 year-end; published 2025-07-03. Raw source: Exact issuer quote (whitespace normalised): "The Company reported a second-quarter net profit of $75.2 million with revenue of $712.9 million, compared with a net profit of $100.2 million with revenue of $741.1 million in the second quarter of 2024." The current-quarter USD-thousands rows print "Revenue 712,918 $" and "Net Profit 75,234$"; these are discrete-quarter figures, not first-half totals or prior-year comparatives

Revenue, attributable NI, G&A and interest are consolidated across tankers, terminals, tank containers, sea farm/gas and corporate/other, not a chemical vessel cash bridge. The source prints "Administrative and general expenses (71,860)", "Finance expense - finance leases (4,531)" and "Finance expense - debt (33,707)" (USD thousands). Group G&A is $71.860m and gross P&L finance costs are $38.238m (debt plus leases, before finance income); neither is allocated to tanker-only cash costs, so G&A ($M) and interest expense ($M) remain null

Named absence: no verified tanker-only vessel-owning opex or mandatory principal repayment bridge; voyage costs, charter hire, capex and depreciation are not supported on a matching chemical-vessel cash-bridge basis and remain null. Tanker segment operating expenses include voyage and charter costs, not narrow vessel opex; diversified group costs must not fill these fields. Deep-sea STJS TCE is not an all-chemical-vessel rate; average realized TCE ($/day) and benchmark TCE ($/day) are explicitly null rather than pooling it

2025Q1

Issuer fiscal quarter 2025Q1 covers 2024-12-01 to 2025-02-28 inclusive, November 30 year-end; published 2025-04-03. Raw source: Exact issuer quote (whitespace normalised): "The Company reported a first-quarter net profit of $151.4 million with revenue of $675.6 million, compared with a net profit of $104.0 million with revenue of $707.3 million in the first quarter of 2024." The current-quarter USD-thousands rows print "Revenue 675,600$" and "Net Profit 151,403$"; reported NI includes the $75.190m acquisition step-up gain, not adjusted earnings

Revenue, attributable NI, G&A and interest are consolidated across tankers, terminals, tank containers, sea farm/gas and corporate/other, not a chemical vessel cash bridge. The source prints "Administrative and general expenses (71,509)", "Finance expense - finance leases (4,761)" and "Finance expense - debt (26,813)" (USD thousands). Group G&A is $71.509m and gross P&L finance costs are $31.574m (debt plus leases, before finance income); neither is allocated to tanker-only cash costs, so G&A ($M) and interest expense ($M) remain null

Named absence: no verified tanker-only vessel-owning opex or mandatory principal repayment bridge; voyage costs, charter hire, capex and depreciation are not supported on a matching chemical-vessel cash-bridge basis and remain null. Tanker segment operating expenses include voyage and charter costs, not narrow vessel opex; diversified group costs must not fill these fields. Deep-sea STJS TCE is not an all-chemical-vessel rate; average realized TCE ($/day) and benchmark TCE ($/day) are explicitly null rather than pooling it

Stolt-Nielsen's fleet has no fleet-rate estimate this quarter. No rate series covers this fleet's vessel classes. Its dividend is still forecast at $1.00 a share for 2026Q3, by twice-yearly dividend held at its last amount (PATTERN).

Last paid · 2025Q4
$1.00
5.3% annualised
$23,372/d earned
TTM $2.00 (5.3% trailing)
2026Q3 · our model
$1.00
5.3% annualised
PATTERN
twice-yearly dividend held at its last amount
2026Q4 · our model
$1.00
5.3% annualised
twice-yearly dividend held at its last amount

Yields annualise each payment ×2 at the last close, $37.49 (2026-10-19). Our model is not company guidance.

What will Stolt-Nielsen pay for 2026Q3?

Company said
Stolt-Nielsen has published no booked rates for 2026Q3. It does not say what it will pay — turning its rates into a dividend is our job.
—
—
no dividend given
Our model
—
$1.00
modelled · PATTERN

Dividend per share declared · model

$1.002025Q3$1.002025Q4$1.002026Q3$1.002026Q4solid = declared · dashed = our model

Market context — rates, the dividend, and the price

Rates and dividend — realized rate and declared

Realized fleet TCEModelDeclared DPS
forecast →
$0k
$15k
$30k
2025Q3
2025Q4
2026Q1
2026Q2
2026Q3
2026Q4
Declared DPS, USD/share — solid: declared · dashed: model
$1.00
$1.00
$1.00
$1.00

Bars are the fleet TCE this issuer reported.

The line is the declared dividend per share — dashed where it is the model's estimate. Model estimate — not issuer guidance.

Forward (our model — model payment ×2): $2.00/yr · @ $37.49 (as of 2026-10-19) = 5.3% yield (forward, model) · Trailing TTM $2.0/yr = 5.3%

Next-quarter fleet TCE: — (chemical: no market proxy prices this class and no issuer guidance on file -> class estimate stays dark)

How we got the number

Earnings bridge — 2026Q2 → 2026Q3

Expected DPS (2026Q3) $1.00

Dividend history & forecast accuracy

Upcoming

QuarterEx-date (est.)Forecast DPSActual DPS
2026Q3 E—$1.00—
2026Q4 E—$1.00—
PeriodDPSKindEx-datePay dateSource
paid 2026-05-06 $1.00/share regular — 2026-05-06 as of 2026-05-06 declaration
paid 2025-12-03 $1.00/share regular — 2025-12-03 as of 2025-12-03 declaration
paid 2025-05-07 $1.25/share regular — 2025-05-07 as of 2025-05-07 declaration

DPS method: twice-yearly dividend held at its last amount.

Financials & fleet

Latest quarter 2026Q2 2 qtrs old

Fleet
—
Segment TCE — not whole fleet
$23,372/d 2026Q2
Declared DPS
$1.00 2025Q4
TTM DPS
$2.0 2025Q4
Coverage
—
Revenue
$750.3M
Opex
—
Net income
$51.6M

Fleet model — 2026Q3

Fleet model estimate — not issuer guidance.

ClassShipsTCSpot% FixedGuided $/dSpot $/dBlended $/dVessel-daysRev $M
Chemical0—— — — — — — —
Total0 — — —
Expected DPS
$1.00/share
Annualized
$2.00/yr

Current quarter — 2026Q4

20/92 days elapsed (22%)

ClassShipsTCSpot% FixedGuided $/dCurrent $/dvs guidedBlended $/dRev $M
Chemical0—— — — — — — —
Total0 — —

Profit statement highlights

Line2026Q22026Q1YoY Δ
Revenue $750.3M $716.8M +5.2%
Opex — — —
Net income $51.6M $47.5M -31.4%

reconciliation: insufficient data for an earnings bridge; consolidated-group figures span more than the segment modelled; tanker-only opex and scheduled principal not on file; group G&A and interest not allocated to the fleet (2026Q2) earnings bridge incomplete — treat income-derived figures as provisional

Full P&L grid — 6 quarters
Line item2026Q22026Q12025Q42025Q32025Q22025Q1
Revenue $M750.3716.8680.6699.9712.9675.6
Voyage expenses $M——————
Vessel opex $M——————
G&A $M——————
Depreciation $M——————
Interest expense, gross $M——————
Net income $M51.647.559.564.075.2151.4
Declared DPS——1.001.00——

Guidance & sources

Sources — press, filings & documents

Press & filings by quarter

QuarterReportPresentationDividendOther
2026Q4 Stolt-Nielsen Limited Reports Unaudited Result… — — SNI: Ny rente
2026Q3 Stolt-Nielsen Limited to Host a Video Conferen…, Stolt-Nielsen Limited Reports Unaudited Result…, Stolt-Nielsen Limited to Host a Video Conferen… — — SNI: Ny rente, SNI: Ny rente
2026Q2 Stolt-Nielsen Limited Reports Unaudited Result…, Stolt-Nielsen Limited to Host a Video Conferen… — SNI: Stolt-Nielsen Limited shares trade ex-div… SNI: Ny rente, Stolt-Nielsen Limited - Approval of Base Prosp…, Euronext Oslo Børs - Stolt-Nielsen Limited - M…, Euronext Oslo Børs - Stolt-Nielsen Limited - R…, Stolt-Nielsen Limited Holds 2026 Annual Genera…
2026Q1 SNI: Stolt-Nielsen Limited 2025 Annual Report, Stolt-Nielsen Limited Reports Unaudited Result…, Stolt-Nielsen Limited to Present the Results f… — Stolt-Nielsen Limited Board Recommends Final D… SNI: Ny rente, Stolt-Nielsen Limited Distributes Material for…, Stolt-Nielsen and NYK Line form strategic join…, Stolt-Nielsen Limited in discussions to sell u…
2025Q4 Stolt-Nielsen Limited Reports Unaudited Result… — SNI: Stolt-Nielsen Limited shares trade ex-div…, Stolt-Nielsen Limited Board Declares Interim D… SNI: Ny rente, SNI: Financial calendar, Stolt-Nielsen Limited Executive Management Upd…, SNI: Stolt-Nielsen Limited Announces Completio…, Stolt-Nielsen Limited Announces Completion of …, Stolt-Nielsen Limited: Completes Issuance of B…, Stolt-Nielsen Limited: Fixed Income Investor M…, SNI: Financial calendar
2025Q3 Stolt-Nielsen Limited to Host a Video Conferen…, Stolt-Nielsen Limited Reports Unaudited Result… — — SNI: Ny rente
2025Q2 Stolt-Nielsen Limited to Host a Video Conferen…, Stolt-Nielsen Limited Reports Unaudited Result… — SNI: Stolt-Nielsen Limited shares trade ex-div… SNI: Ny rente, Transactions Made Under the Share Buy-back Pro…, Transactions Made Under the Share Buy-back Pro…, Transactions Made Under the Share Buy-back Pro…, Transactions Made Under the Share Buy-back Pro…, Stolt-Nielsen Limited Holds 2025 Annual Genera…, Completion of compulsory acquisition of remain…, SNI: Mandatory notification of trade by primar…, Transactions Made Under the Share Buy-back Pro…, Stolt-Nielsen Limited Announces Intention to R…
2025Q1 Stolt-Nielsen Limited to Host a Video Conferen… — — SNI: Ny rente

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