STOLT-NIELSEN LIMITED

“However, crude and product tanker markets continue to be volatile, driven by geopolitical uncertainties, causing potential impact from swing tonnage in our segment. Recent developments in the Red Sea, fleet sanctions and potential tariffs could impact trade flows, volumes and freight rates in either direction.”

Annual report 2024A · The company itself

“Financial performance hit a record high this year, with a tight supply/demand balance. This was further amplified by the war in Ukraine and subsequent restrictions on Russian products, and the ongoing transit difficulties around the Red Sea and Panama Canal which increased voyage lengths for some trades. This positively impacted our pricing, margins and earnings.”

Annual report 2024A · The company itself

“We expect geopolitical factors to remain a key driver for supply and demand dynamics in the chemical tanker market.”

Annual report 2024A · The company itself

“Operating profit 59 117 Throughout 2024, we achieved a high level of overall customer satisfaction, resulting in a customer net promoter score of 59, placing us in the top quartile in logistics and transportation companies. We maintained our service excellence despite challenges such as transit difficulties around the Red Sea and Panama Canal, port strikes affecting the US, and congestion from sudden changes in demand.”

Annual report 2024A · The company itself

“Stolt Tankers experienced restricted transit in the Panama Canal and the Red Sea through much of the year, resulting in longer voyages. In addition, Tufton Shipping withdrew its eight ships at the end of 2023.”

Annual report 2024A · The company itself

“There has also been a rise of nationalism and protectionism leading to tariffs and sanctions which could disrupt trade lanes. The US-China relationship could potentially influence sourcing patterns and tariff costs.”

Annual report 2024A · The company itself

“For an effective and competitive global chemical shipping business, managing geopolitical risk is a strategic imperative.”

Annual report 2024A · The company itself

“The shift to cleaner energy alternatives, a circular economy and decarbonisation will also remain a major focus. We are committed to supporting our customers on this journey as well as achieving our own sustainability ambitions.”

Annual report 2024A · The company itself

“For example, the EU Emissions Trading System (ETS) started in 2024 for shipping and requires the purchase of EU allowances equivalent to its carbon emissions which has driven an increase in operating expenses. SNL has included wording in its COAs that allow for the recovery of these costs from its customers.”

Annual report 2024A · The company itself

“• Reduction of fish products in our ongrowing feed (relative to 2019 levels) by 2030: 65% reduction for sole and 50% reduction for turbot • Reach net zero CO e emissions by 2050 At Stolt Sea Farm (SSF), sustainability is fundamental to our strategy and operations.”

Annual report 2024A · The company itself

“Stolt-Nielsen Gas’ share of losses in Avenir and Higas was $19.0 million in 2024, compared to $9.9 million in 2023. This was the result of the challenging LNG market and a $6.0 million impairment of investment in and advance to Higas.”

Annual report 2024A · The company itself

“Ships are required to use marine fuels with a sulphur content of no more than 0.50% against the previous limit of 3.50%. Stolt Tankers is taking a multifaceted approach to lowsulphur fuel.”

Annual report 2024A · The company itself

“In February 2025, SNG purchased all the shares of Avenir owned by Golar and Aequitas Limited (46.9% ownership interest), and an additional 1.9% of Avenir shares, increasing its total shareholding from 47.0% to 95.8%. Avenir is an industry leader in small-scale LNG supply and is focused on supporting the marine energy transition through one of the largest fleets of small-scale LNG vessels.”

Annual report 2024A · The company itself

“Bunker fuel constitutes one of the major operating costs of the tanker fleet and price changes can have a material impact on SNL’s results. Although efforts are made to reduce the impact of price changes by passing bunker fuel costs through to customers or through the Company’s bunker hedging programme, a significant portion is incurred solely by the Company.”

Annual report 2024A · The company itself

“The vast majority of COA now include adapted bunker surcharge clauses to cover the higher fuel prices.”

Annual report 2024A · The company itself

“SNL’s policy is to hedge a minimum of 50% of expected bunker purchases within the next 12 months, through either bunker surcharge clauses included in COA or through financial instruments.”

Annual report 2024A · The company itself

“The tank container industry is also cyclical and volatile, which may lead to reductions and/or volatility in freight rates and shipment volumes. Fluctuations in the rates that Stolt Tank Containers can charge its customers result from new competition attempting to aggressively grow market share, combined with an oversupply of tank containers in the market.”

Annual report 2024A · The company itself

“As at the date of this report, SNL held shares in Odfjell SE (13.6% of A shares), The Kingfish Company NV (12.3%) and Ganesh Benzoplast Limited (8.5%). Odfjell SE is a chemical tanker and storage terminal operator listed on the Oslo Stock Exchange. In February 2024, SNL acquired a further 3,225,000 Odfjell SE class A shares, for $35.6 million, taking SNL’s holding in Odfjell SE from 8.3% to 13.6%.”

Annual report 2024A · The company itself

“Operating revenue was $2,890.6 million in 2024, which was 2.5% higher than in 2023, mainly due to higher regional fleet revenues at Stolt Tankers. Stolt Tankers’ revenue increased by $93.1 million, mainly due to $111.3 million increase from full-year inclusion of the Stolt NYK Asia Pacific Services Inc. pool (SNAPS pool) which commenced in October 2023 as a result of Stolt Tankers managing the SNAPS pool.”

Annual report 2024A · The company itself

“Partially offsetting this was a 10.6% increase in average freight rates between the periods, mainly driven by a 16.9% increase in the rates on contracts of affreightment (COA) business, which contributed approximately 49% of total deep-sea freight revenue.”

Annual report 2024A · The company itself

“For Stolt Tank Containers, the impact of increased freight costs due to changes in capacity on container ships in select markets, additional surcharges, and fluctuations in fuel prices can result in downward pressure on margins.”

Annual report 2024A · The company itself

“We continue to invest across all our businesses – enhancing our market positions, expanding our asset base and strengthening our portfolio to enable solid financial performance throughout the cycle. For example, at Stolt Tankers we secured on-the-water and newbuilding replacement tonnage to maintain our market-leading position; at Stolthaven Terminals we are increasing capacity with expansion projects; and at Stolt Tank Containers we are optimising our scalable platform.”

Annual report 2024A · The company itself

“Stolt Tankers (ST) is a leading operator of deep-sea and regional chemical tankers, with 162 ships transporting more than 26 million tonnes of cargo annually across Europe, the Middle East, Asia Pacific, the Caribbean, the US and Latin America. We provide safe, reliable, high-quality and flexible transportation services to the world’s leading manufacturers and consumers of chemicals, edible oils, acids and other bulk liquids, offering supply chain efficiencies and added value for our customers.”

Annual report 2024A · The company itself

“Stolt Tank Containers (STC) is a leading provider of bespoke logistics and transportation services for door-to-door shipments of bulk liquids. In addition to the safe handling and shipment of products, our 21 full-service depots and refurbishing facilities ensure our fleet and cargo handling operations consistently meet the highest standards for quality, reliability and environmental protection.”

Annual report 2024A · The company itself

“Our 7,000 people are the heart of our success – living our values, putting safety first and being ‘Simply the Best’ T h e S t o l t W a y Create solutions Act pragmatically Collaborate for success Commit to go further Safety first People and planet See page 54 for more information on The Stolt Way 1.”

Annual report 2024A · The company itself

“Ship management costs were $9.6 million or 4.2% higher than prior year mainly due to increased costs for manning and maintenance and repairs.”

Annual report 2024A · The company itself

“This was largely due to normal inflationary salary increases, higher information services costs and the effect of the strengthening dollar, partially offset by lower profit-sharing expenses.”

Annual report 2024A · The company itself

“These increases were driven by normal inflationary personnel costs, as well as higher maintenance and facility costs.”

Annual report 2024A · The company itself

“Our people are vital to our success, so we want to support them to be the best they can be. We aim to be an employer of choice in our markets.”

Annual report 2024A · The company itself

“We continued to invest in our business, completing an upgrade on our sole broodstock facility in Merexo, Spain and extending our sole hatchery in Cervo, Spain – the world’s largest flatfish hatchery. We also began construction of a new recirculating aquaculture system (RAS) facility for sole production at our farm in Tocha, Portugal. These upgrades support our plans to double sole production capacity in the next three years, and reach our overall annual production target of 23,000 tonnes of turbot and sole by 2035.”

Annual report 2024A · The company itself

“Stolt-Nielsen invests in areas that align with our strategy and core competencies. We actively seek investment opportunities in bulk liquid logistics, distribution, liquefied natural gas (LNG), land-based aquaculture and sustainable technologies.”

Annual report 2024A · The company itself

“At SSF we have invested in the expansion of our sole hatchery, and volumes from our new farms are surpassing expectations.”

Annual report 2024A · The company itself

“Stolt Sea Farm (SSF) is one of the world’s most advanced land-based aquaculture companies, and the premier provider of high-quality turbot and sole in an environmentally sound manner. Our seafood products are available in more than 30 countries and our annual production capacity totals 7,200 tonnes of turbot and 1,800 tonnes of sole.”

Annual report 2024A · The company itself

“Investment in our digital platform supports data-driven decision-making, optimises and connects processes, and enhances customer experience. Our customer portal offers innovative online solutions for the real-time tracking of cargo and easy access to documents, making trading smoother and more efficient, and improving communications.”

Annual report 2024A · The company itself

“Most of our customers book digitally, so to make working with us more integrated and even easier we added new digital and AI-enabled features such as predictive track and trace, online documentation and improved digital integrations.”

Annual report 2024A · The company itself

“Stolt Ventures is SNL’s investment vehicle focused on identifying and investing in sustainable technologies with the potential to contribute to productivity and sustainability improvements within our core operations. As the energy transition gathers pace, we seek to be an active investor in new technologies that will boost our efficiency while reducing our environmental impact.”

Annual report 2024A · The company itself

“Our digital forecasting project was a finalist in the enerTIC Awards, which recognise programmes that successfully incorporate sustainability, technology and innovation. The project includes the development of new digital tools and automation to enhance our operations and services for customers.”

Annual report 2024A · The company itself

“• Reduction of fish products in our ongrowing feed (relative to 2019 levels) by 2030: 65% reduction for sole and 50% reduction for turbot • Reach net zero CO e emissions by 2050 At Stolt Sea Farm (SSF), sustainability is fundamental to our strategy and operations.”

Annual report 2024A · The company itself

“SSF’s revenue increased by $16.0 million, or 14.4%, to $126.8 million in 2024 from $110.8 million in 2023, due to higher sales prices and sales volumes for both species. Turbot sales volumes increased by 0.7% while prices increased by 14.3%.”

Annual report 2024A · The company itself

“We provide safe, reliable, high-quality and flexible transportation services to the world’s leading manufacturers and consumers of chemicals, edible oils, acids and other bulk liquids, offering supply chain efficiencies and added value for our customers.”

Annual report 2024A · The company itself

“Stolt Tankers (ST) is a leading operator of deep-sea and regional chemical tankers, with 162 ships transporting more than 26 million tonnes of cargo annually across Europe, the Middle East, Asia Pacific, the Caribbean, the US and Latin America. We provide safe, reliable, high-quality and flexible transportation services to the world’s leading manufacturers and consumers of chemicals, edible oils, acids and other bulk liquids, offering supply chain efficiencies and added value for our customers.”

Annual report 2024A · The company itself

“Stolthaven Terminals is a leading provider of storage and handling solutions for speciality bulk liquids, such as chemicals, clean petroleum products, liquefied petroleum gases, biofuels, vegetable oils, alternative fuels and feedstocks.”

Annual report 2024A · The company itself

“Stolt Tankers, Stolthaven Terminals and Stolt Tank Containers are engaged in the worldwide transportation, storage and distribution of bulk liquid chemicals, edible oils, acids and other speciality chemicals, some of which are hazardous if not handled correctly.”

Annual report 2024A · The company itself

“In March 2024, we received our first EcoVadis sustainability Gold rating, placing us in the top 5% of businesses in our industry.”

Annual report 2024A · The company itself

“We were pleased to see our sustainability achievements recognised with a Gold EcoVadis rating.”

Annual report 2024A · The company itself

“These efforts were recognised with an EcoVadis Gold rating for our wholly owned terminals, placing us among the top 1% of companies within the warehousing and storage industry.”

Annual report 2024A · The company itself

“Stolt-Nielsen invests in areas that align with our strategy and core competencies. We actively seek investment opportunities in bulk liquid logistics, distribution, liquefied natural gas (LNG), land-based aquaculture and sustainable technologies.”

Annual report 2024A · The company itself

“We are positioning ourselves to provide storage solutions for hydrogen, ammonia and green methanol, including jetty access for bunkering, export, import and transportation. These low- and zero-carbon new energies have a critical role to play as the shipping, storage and logistics industries move from traditional petroleum-based marine fuels to greener alternatives.”

Annual report 2024A · The company itself

“Stolthaven Terminals is a leading provider of storage and handling solutions for speciality bulk liquids, such as chemicals, clean petroleum products, liquefied petroleum gases, biofuels, vegetable oils, alternative fuels and feedstocks.”

Annual report 2024A · The company itself

“Operating profit increased to $110.4 million in 2024 compared to $105.0 million in 2023, due to rate increases at above-inflation levels, with further margin gains expected in 2025.”

Annual report 2024A · The company itself

“This increase was primarily due to higher storage revenue at the majority of the terminals as a result of rate escalations, despite a drop in utilisation.”

Annual report 2024A · The company itself

“We carefully managed operating expenses as part of our ongoing commercial optimisation and cost reduction initiatives.”

Annual report 2024A · The company itself

“Stolt Tank Containers 652,121 699,504 Corporate and Other 753 229 Total 2,890,625 2,820,218 Stolt Tankers 390,082 371,076 Stolt Tank Containers 58,988 (37,831) Stolt-Nielsen Gas (20,492) (10,396) Corporate and Other (29,581) (32,522) Total 538,530 419,647 Operating revenue increased by $93.1 million in 2024 versus 2023, with deep-sea revenue decreasing by $43.2 million and regional revenues increasing by $136.3 million.”

Annual report 2024A · The company itself

“Product handled increased slightly to 14.4 million metric tonnes in 2024 from 14.2 million metric tonnes in 2023.”

Annual report 2024A · The company itself

“This has helped establish SSF as the leading land-based aquaculture company consistently producing top-quality turbot and sole in commercial volumes.”

Annual report 2024A · The company itself

“To reduce our impact on life below water, we minimise underwater noise to protect cetaceans, modifying routes or slowing ships if necessary.”

Annual report 2024A · The company itself

“These ambitions are connected through aligning ways of working across our liquid logistics operations, and in our approach to people excellence, digitalisation and sustainability, which cut across the whole organisation. I am really excited about bringing the liquid logistics elements of our business closer together, enabling us to offer integrated customer solutions with improved service delivery and efficiencies. We aspire to be a strategic partner for our customers, leveraging our long-standing relationships and industry-leading logistics solutions to better fulfil their business needs.”

Annual report 2024A · The company itself

“Across our global network, we continued to implement our intelligent assets strategy to support enhanced real-time data exchange and visibility. Our next-generation Connected Worker project, including the introduction of a paperless workflow in the field, was successfully adopted at two terminals and will be rolled out further during 2025.”

Annual report 2024A · The company itself

“We are exploring ways to reduce our carbon footprint and achieve carbon neutrality by 2050. Our initiatives on carbon abatement and emissions reduction include the deployment of innovative energy-efficient technologies, sustainable fuels, and voyage optimisation.”

Annual report 2024A · The company itself

“Stolt Ventures is SNL’s investment vehicle focused on identifying and investing in sustainable technologies with the potential to contribute to productivity and sustainability improvements within our core operations. As the energy transition gathers pace, we seek to be an active investor in new technologies that will boost our efficiency while reducing our environmental impact.”

Annual report 2024A · The company itself

“In 2024, STC handled 154,721 tank container shipments, compared to 142,522 shipments in 2023, which represents an 8.6% increase in volumes and reflects a focus on growing market share in 2024. Average monthly utilisation was 63.9% in 2024, consistent with 2023.”

Annual report 2024A · The company itself

“We provide safe, reliable, high-quality and flexible transportation services to the world’s leading manufacturers and consumers of chemicals, edible oils, acids and other bulk liquids, offering supply chain efficiencies and added value for our customers.”

Annual report 2024A · The company itself

“Across our global network, we continued to implement our intelligent assets strategy to support enhanced real-time data exchange and visibility. Our next-generation Connected Worker project, including the introduction of a paperless workflow in the field, was successfully adopted at two terminals and will be rolled out further during 2025.”

Annual report 2024A · The company itself

“Stolt Tankers, Stolthaven Terminals and Stolt Tank Containers are engaged in the worldwide transportation, storage and distribution of bulk liquid chemicals, edible oils, acids and other speciality chemicals, some of which are hazardous if not handled correctly.”

Annual report 2024A · The company itself

“We are positioning ourselves to provide storage solutions for hydrogen, ammonia and green methanol, including jetty access for bunkering, export, import and transportation.”

Annual report 2024A · The company itself

“Construction has started on a state-of-the-art UCO processing plant at our Dagenham terminal. The product will then be transferred to our storage tanks before it is converted into renewable, low-carbon biodiesel fuel.”

Annual report 2024A · The company itself

“In February 2025, SNG purchased all the shares of Avenir owned by Golar and Aequitas Limited (46.9% ownership interest), and an additional 1.9% of Avenir shares, increasing its total shareholding from 47.0% to 95.8%. Avenir is an industry leader in small-scale LNG supply and is focused on supporting the marine energy transition through one of the largest fleets of small-scale LNG vessels.”

Annual report 2024A · The company itself

“We are exploring ways to reduce our carbon footprint and achieve carbon neutrality by 2050. Our initiatives on carbon abatement and emissions reduction include the deployment of innovative energy-efficient technologies, sustainable fuels, and voyage optimisation.”

Annual report 2024A · The company itself

“We harness the power of technology, sharing our knowledge across one platform. This enables us to deliver data-driven, fast, efficient and accurate solutions.”

Annual report 2024A · The company itself

“I am pleased that in 2024, we achieved a net promoter score of 46.”

Annual report 2024A · The company itself

“Total available average capacity at the wholly owned terminals increased to 1,747,547 cubic metres in 2024 from 1,723,720 cubic metres in 2023. This increase in capacity was as a result of expansions in Dagenham, UK and New Zealand.”

Annual report 2024A · The company itself

“Stolt Tank Containers 652,121 699,504 Corporate and Other 753 229 Total 2,890,625 2,820,218 Stolt Tankers 390,082 371,076 Stolt Tank Containers 58,988 (37,831) Stolt-Nielsen Gas (20,492) (10,396) Corporate and Other (29,581) (32,522) Total 538,530 419,647 Operating revenue increased by $93.1 million in 2024 versus 2023, with deep-sea revenue decreasing by $43.2 million and regional revenues increasing by $136.3 million.”

Annual report 2024A · The company itself

“Stolt Tank Containers 652,121 699,504 Corporate and Other 753 229 Total 2,890,625 2,820,218 Stolt Tankers 390,082 371,076 Stolt Tank Containers 58,988 (37,831) Stolt-Nielsen Gas (20,492) (10,396) Corporate and Other (29,581) (32,522) Total 538,530 419,647 Operating revenue increased by $93.1 million in 2024 versus 2023, with deep-sea revenue decreasing by $43.2 million and regional revenues increasing by $136.3 million.”

Annual report 2024A · The company itself

“Stolthaven Terminals’ revenue increased by $8.2 million to $308.0 million in 2024, from $299.8 million in 2023. Storage rental revenue increased by 2.1%, as a result of higher average rental rates, despite a decrease in the average utilisation rate to 90.8% in 2024, down from 96.7%.”

Annual report 2024A · The company itself

“On the demand side of the equation, incremental chemical demand and trade growth is expected to be stable and to track global GDP.”

Annual report 2024A · The company itself

“We expect continued volatility in supply chains during 2025 due to the macroeconomic climate, and we expect demand growth to remain relatively modest.”

Annual report 2024A · The company itself

“Tanker and tank container industry risk The tanker industry is cyclical and volatile, which may lead to reductions and/or volatility in freight rates, volumes and ship values. Fluctuations in the rates that Stolt Tankers can charge result from changes in the supply and demand for ship capacity and changes in the supply and demand for the products carried, particularly the bulk liquids, chemicals, edible oils, acids and other speciality liquids that comprise the majority of the products the Company transports.”

Annual report 2024A · The company itself

“With more than 51,000 tank containers, STC operates the world’s largest fleet of ISO tanks, and ships to more than 100 countries. Customers benefit from our global reach and market-leading scale, enabling increasing efficiency and reliability across their supply chains.”

Annual report 2024A · The company itself

“During the second half of the year, space constraints on container ships from Asia positively impacted margins.”

Annual report 2024A · The company itself

“In 2024, STC handled 154,721 tank container shipments, compared to 142,522 shipments in 2023, which represents an 8.6% increase in volumes and reflects a focus on growing market share in 2024.”

Annual report 2024A · The company itself

“Sales of our fresh range of value-added products (VAP) also grew 30% year on year, reflecting growth in consumer demand for convenience, versatility and consistent supply.”

Annual report 2024A · The company itself

“Although we saw a record number of shipments (155,000 versus 142,500 in 2023), this was offset by lower margins and demurrage, driven by weaker market conditions as rates returned to pre-Covid levels and customers closely managed their inventories.”

Annual report 2024A · The company itself

“Sale prices for both turbot and sole also improved by 14.3% and 8.8% respectively, compared to 2023.”

Annual report 2024A · The company itself

“Cost increases are passed on to customers when possible.”

Annual report 2024A · The company itself

“These results are testament to the strength and resilience of our business in the face of geopolitical, macroeconomic and environmental challenges, such as the war in Ukraine, hostilities affecting ships transiting the Red Sea and drought-related restrictions in the Panama Canal.”

Annual report 2024A · The company itself

“SNL may incur substantial costs as a result of changes in weather patterns due to climate change. Increases in the frequency, severity or duration of severe weather events such as hurricanes, typhoons or other extreme weather events could result in asset loss, injuries, lost earnings, difficulty in obtaining insurance and higher costs.”

Annual report 2024A · The company itself

“Changes in sea water temperature can adversely impact growth rates of fish, harm the fish and lead to losses of fish.”

Annual report 2024A · The company itself

“During 2024, energy consumption at SSF’s operations was 57,515 MWh (2023: 56,363 MWh) driven by increased volume, however we are driving efficiency, as energy consumption per kilogramme of fish produced reduced to 6.82 kWh (2023: 6.95 kWh).”

Annual report 2024A · The company itself

“Ancillary revenue such as utilities and dock revenue also increased by $3.9 million.”

Annual report 2024A · The company itself

“As has been evidenced by the Covid-19 pandemic, disease outbreaks can put significant restrictions on the movement of people and their ability to get to their place of work as well as restrictions on the operations of our assets. If the movement of people and transport operations are restricted, this could limit SNL’s ability to meet commitments to customers and could impact financial results.”

Annual report 2024A · The company itself

“There has also been a rise of nationalism and protectionism leading to tariffs and sanctions which could disrupt trade lanes. The US-China relationship could potentially influence sourcing patterns and tariff costs.”

Annual report 2024A · The company itself

“We have more than 50 years of experience and five million cubic metres of storage capacity across 14 terminals including joint ventures. These are in key global locations, giving customers access to critical international shipping and transportation hubs close to their operations.”

Annual report 2024A · The company itself

“Our seafood products are available in more than 30 countries and our annual production capacity totals 7,200 tonnes of turbot and 1,800 tonnes of sole.”

Annual report 2024A · The company itself

“SNL has a diversified debt structure and has access to a wide range of funding sources from banks, leasing companies and the Nordic bond market.”

Annual report 2024A · The company itself

“Total available average capacity at the wholly owned terminals increased to 1,747,547 cubic metres in 2024 from 1,723,720 cubic metres in 2023. This increase in capacity was as a result of expansions in Dagenham, UK and New Zealand.”

Annual report 2024A · The company itself

“We have more than 50 years of experience and five million cubic metres of storage capacity across 14 terminals including joint ventures. These are in key global locations, giving customers access to critical international shipping and transportation hubs close to their operations.”

Annual report 2024A · The company itself

“Our seafood products are available in more than 30 countries and our annual production capacity totals 7,200 tonnes of turbot and 1,800 tonnes of sole.”

Annual report 2024A · The company itself

“Total available average capacity at the wholly owned terminals increased to 1,747,547 cubic metres in 2024 from 1,723,720 cubic metres in 2023. This increase in capacity was as a result of expansions in Dagenham, UK and New Zealand.”

Annual report 2024A · The company itself

“Six of our terminals buy electricity from renewable sources.”

Annual report 2024A · The company itself

“In Moerdijk, the Netherlands, we are using wind energy electricity and biodiesel.”

Annual report 2024A · The company itself

“9 0.27 12% Hassel Shipping 4 AS 8 0.26 12% SFL Corporation 1 0.03 – CMB Tech Netherlands 2 0.05 2% Total STJS 81 2.58 100% Ships in wholly owned regional services (18 owned ships) 47 0.21 Ships in joint venture regional services (31 owned by joint ventures) 34 0.26 Total 162 3.05 Operating profit increased by $19.0 million, to $390.1 million in 2024 from $371.1 million in 2023.”

Annual report 2024A · The company itself

“We successfully secured on-the-water and newbuilding replacement tonnage to maintain our market-leading position in our deep-sea and regional businesses.”

Annual report 2024A · The company itself

“At our wholly owned depots in Kaoshung, Taiwan and Mumbai, India we have installed solar panels.”

Annual report 2024A · The company itself

“We have more than 50 years of experience and five million cubic metres of storage capacity across 14 terminals including joint ventures. These are in key global locations, giving customers access to critical international shipping and transportation hubs close to their operations.”

Annual report 2024A · The company itself