Oslo-listed Stolt-Nielsen has turned in lower earnings in the second quarter as chemical tanker rates weakened further.
Net profit to 28 February was $15.7m from revenue of $500.8m.
This compares to earnings of $38m a year ago from revenue of $478.9m.
Analyst Norne Research had last week lowered its profit estimate to $19m.
CEO Niels Stolt-Nielsen said the result was disappointing overall, but in line with both its expectations and results in the first quarter, with market fundamentals largely unchanged.
