Lower margins, but increasing volumes for STC

Stolt Tank Containers (STC) reported fourth-quarter revenue of $150 million (€137 million), significantly down from $228.5 million (€209 million), in the fourth quarter of 2022.

Transport revenue decreased by 36.2%, driven by lower ocean transport rates, and demurrage revenue fell by 35.1%. This was partly offset by a 14.6% increase in shipments.

STC reported a fourth-quarter operating profit of $14.2 million (€13 million), down from $44.9 million (€41.2million), in the fourth quarter of 2022.

The lower revenue was only partly offset by a continued decrease in ocean freight and trucking costs, resulting in a reduction in gross profit margins.

The fleet increased by 8.4% during the year since the fourth quarter of 2022.

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