A $575m acquisition of the Jo Tankers’ chemical fleet will push up revenue at Stolt-Nielsen by one tenth, according to Norne Securities.
Stolt moved for the 13 trading ships and eight joint-venture newbuildings this week in what was the ninth largest post-crash tanker deal.
In initiating coverage of the shipowner with a buy rating today, Norne said the 10% rise would be felt over the long term.
Norne
