Clarksons Securities is backing Norway’s Stolt-Nielsen to overcome recent setbacks that may delay its tanker spin-off.
The chemical carrier group is experiencing weaker spot markets and has made a $155m provision after losing a US appeals court ruling over its liability for the MSC Flaminia fire in 2012.
“Despite the dual challenge of a weakened spot market and a negative legal verdict, the long-term potential of Stolt-Nielsen should not be underestimated,” Clarksons Securities analysts Frode Morkedal and Even Kolsgaard said.
