Norway's Stolt-Nielsen may be getting nearer to pulling the trigger on an initial public offering of Stolt Tankers.
But chief executive Niels Stolt-Nielsen cautioned shareholders and analysts that the group does not need to carry out a spin-off.
Speaking on a conference call, he said Stolt Tankers president Lucas Vos had come on board and built up a team, "and we are basically ready to go for an IPO".
