STOLT-NIELSEN REPORTS 4TH-QUARTER LOSS

STOLT-NIELSEN REPORTS 4TH-QUARTER LOSS

   Stolt-Nielsen, based in London, has reported a net loss of $5.9 million on net operating revenue of $631.3 million for its fourth quarter ended Nov. 30.

   For the comparable quarter of 1999, the company had reported net income of $15.4 million on net operating revenue of $446.2 million.

   Stolt-Nielsen’s net income for the fiscal that ended Nov. 30 was $20.1 million on net operating revenue of $2.27 billion.

   In the previous fiscal year, the company had reported net income of $46.9 million on net operating revenue of $1.78 billion.

   “As anticipated, the Stolt-Nielsen Transportation Group and in particular, Stolt Offshore, produced unsatisfactory results, while Stolt Sea Farm had another good year in 2000,” said Niels G. Stolt-Nielsen, chief executive officer of Stolt-Nielsen S.A.

   “We are expecting a turnaround for both of our major businesses in 2001,” he said.