Stolt-Nielsen chief financial officer Jens Gruner-Hegge believes the chemical tanker to terminals group is being priced by investors as a shipping company rather than as a logistics player.
And with shipowners’ stock valuations suffering in recent weeks, the company has revived a nine-year-old share buyback mandate to support its price in Oslo, the CFO told a conference call.
Chief executive Udo Lange again said the group is not a shipping company, preferring to describe it as a “liquid logistics department store”.
