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Stolt-Nielsen Limited Reports Unaudited Results For the Third Quarter of 2012

October 4, 2012 - London

Stolt-Nielsen Limited (Oslo Børs: SNI) todayreportedunaudited results for the third quarter ended August 31, 2012. Netprofitattributable to shareholders in the third quarter was $7.1 million, withrevenueof $516.4 million, compared with $37.0 million and $538.8 million,respectively,in the second quarter of 2012.

Highlights for the third quarter of 2012, compared with the secondquarter of2012, were:

* Stolt Tankers reported an operating loss of $0.8 million, compared withan operating profit of $4.5 million, excluding the second-quarter gain of$24.5 million on insurance compensation related to the loss of Stolt Valor,as global market conditions remained weak.

* The Stolt Tankers Joint Service Sailed-in Time-Charter Index[1] was1.12, compared with 1.18 in the second quarter.

* Stolthaven Terminals reported an operating profit of $12.2 million,down from $18.1 million, due in part to a $2.3 million provision towardsexpenses related to the flooding of Stolthaven New Orleans by HurricaneIsaac, and lower income from joint ventures.

* Stolt Tank Containers reported an operating profit of $20.1 million, upfrom $19.6 million, due to a $3.0 million reduction in depreciationresulting from a change to the salvage value of its tank containers.

* Stolt Sea Farm reported an operating loss of $1.4 million, comparedwith an operating profit of $1.8 million, reflecting lower revenue and anegative impact of $1.3 million from the accounting for inventories at fairvalue, versus a positive impact of $1.4 million in the preceding period.

* Stolt-Nielsen Gas reported equity income of $1.1 million from itsinvestment in Avance Gas Holding Ltd (AGHL), compared with a loss of $0.9million in the second quarter, as the LPG transportation market continuedto strengthen.

Commenting on the Company's results, Mr. Niels G. Stolt-Nielsen, ChiefExecutiveOfficer of SNL, said:

"Stolt-Nielsen Limited's weakened result in the third quarterreflects theunderlying weakness in the parcel tanker market driven by a slowingglobaleconomy. Stolt Tankers reported an operating loss, as overall marketconditionsremained soft and unscheduled drydockings resulted in fewer sailing days.Lowerresults at Stolthaven Terminals were attributable to a provision takentowardsthe costs from the flooding of our New Orleans terminal due to HurricaneIsaac.At Stolt Tank Containers, excluding the change to the salvage valueof thecontainers, results were slightly down. However, fundamentals remainhealthy. Stolt Sea Farm reported an operating loss due to a negativeinventoryadjustment, but revenues were also down on seasonally lower volumessold. Abright spot to report is the strengthening VLGC market."

"Managing our business with conservative assumptions about the globaleconomicrecovery has put us in a position to pursue unique opportunities as andwhenthey arise".

[1] The Stolt Tankers Joint Service Sailed-in Time-Charter Index is anindexedmeasurement of the sailed-in rate for the Joint Service and was set at1.00 inthe first quarter of 1990 based on the average sailed-in time-charterresult forthe fleet at the time. The sailed-in rate is a measure frequentlyused byshipping companies, which subtracts from the ships' operatingrevenue thevariable costs associated with a voyage, primarily commissions,sublets,external time charter expenses, transshipments, port costs, and bunkerfuel.

This information is subject of the disclosure requirements pursuant tosection5-12 of the Norwegian Securities Trading Act.

Stolt-Nielsen Limited 3Q12 Earnings Results:

This announcement is distributed by Thomson Reuters on behalf ofThomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright andother applicable laws; and

(ii) they are solely responsible for the content, accuracy andoriginality of the information contained therein.

Source: Stolt-Nielsen Limited via Thomson Reuters ONE


For additional information please contact:
Jan Chr. Engelhardtsen
Chief Financial Officer
UK +44 (0) 20 7611 8972
Email Contact

Jens F. Gruner-Hegge
VP Corporate Finance
UK +44 (0) 20 7611 8985
Email Contact


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