Norway's Stolt-Nielsen remains keen to spin off its tanker operations but an initial public offering for its fish farming business has been axed.

The group's chief executive Niels Stolt-Nielsen told a conference call with analysts that he is still waiting for the right time to pull the trigger on an IPO for Netherlands-based chemical carrier company Stolt Tankers.

"I've said it on several occasions that I think that [a] step towards a sustainable industry in the chemical...