Stolt-Nielsen warned yesterday that the rebound in rates faced being derailed as the company posted weaker than projected second quarter figures.
In a subsequent conference call, Stolt-Nielsen said volumes have been insufficient to drive rates higher in a traditional peak season, but he cited the increase in the orderbook as more worrying.
“Just in the last six months we have seen a significant pick-up in the ordering of ships,” he said, placing the newbuilding catalogue at 23.5%
