Norwegian tanker and terminals group Stolt-Nielsen is holding investments in other companies worth $217.8m.

The chemical tanker specialist now has a broad reach in gas shipping, as well as holdings in other tanker, logistics and aquaculture rivals.

In its annual report, the Oslo-listed company revealed a 1.8% stake in LNG carrier owner Cool Company (CoolCo), which had not previously been reported.

In February last year, Stolt-Nielsen bought 1m shares in the Golar LNG spin-off now led by Idan Ofer’s Eastern Pacific Shipping.

At the time of the last annual report in March, the group held a stake of 2.5%.

The current slice is worth NOK 130m ($12.15m).

CoolCo makes its debut on Friday on the New York Stock Exchange, adding to its Oslo listing.

“The investment was driven by our belief in the LNG sector and support for our larger investment in Golar LNG,” Stolt-Nielsen said.

Subsidiary Stolt-Nielsen Gas has a 47.2% stake in small-scale LNG carrier owner Avenir LNG and a 2.5% stake in Golar.

“Stolt-Nielsen holds strategic investments in companies where we believe we can contribute as a minority shareholder using our expertise in shipping, storage, distribution and land-based aquaculture,” the group added.

Consolidation the aim

The shipping company also has 5% in chemical tanker rival Odfjell as it aims to drive consolidation in that sector.

Then there is an 8.3% holding in aquaculture player The Kingfish Company and 9.8% in Ganesh Benzoplast, a Mumbai-listed chemical logistics and storage company.

Stolt-Nielsen also set up Stolt Ventures in 2022, with the aim of identifying and investing in sustainable technologies that will contribute to decarbonisation and support core operations.

“As the energy transition gathers pace and we look for innovative ways to maintain a leadership position in our key markets, we seek to be an active investor in new technologies that will boost our efficiency while reducing our environmental impact,” the group said.

Stolt-Nielsen revealed it made its first commitment in December by investing $750,000 in Motion Ventures, a seed fund backed by corporates in the maritime and logistics industries.

The company also said its tanker fleet has improved its annual efficiency ratio, or AER, which is calculated by dividing a vessel’s annual carbon emissions by its annual dwt/miles.

The figure dropped to 10.91 grams per CO2/dwt-miles in 2022, from 11.06 in 2021.

Stolt-Nielsen said it had increased the size of its sustainability team last year to drive decarbonisation efforts.