Stolt and Odfjell Highlight Diversification Strength Amid Hormuz Crisis　ストルトとオドフェル、ホルムズ危機で際立つ多角経営

First-quarter results from two Norwegian chemical groups underscore their transformation into “chemical logistics companies”

ノルウェー系ケミカル2社の第1四半期決算、「ケミカル物流企業」への変貌

The first-quarter 2026 results announced by Norwegian groups Stolt-Nielsen and Odfjell SE, both major global owners and operators of chemical tankers as well as leading chemical logistics providers, once again highlighted the strength of companies that are no longer merely shipping operators but fully fledged “liquid logistics companies”.

■The full article covers the following points (approximately 3,000 Japanese characters)

→Why Stolt and Odfjell were able to maintain comparatively stable earnings despite the disruption in the Strait of Hormuz

→From “shipping companies” to “liquid logistics companies” — an examination of the diversification model being advanced by European operators

→The advantages of an “infrastructure-style logistics management” model integrating terminals, tank containers and fleet operations

→How to interpret Odfjell management’s improved second-quarter outlook through the lens of rising ton-mile demand and vessel supply dynamics

→A capability shared with Japanese shipping groups — the ability to keep logistics moving even during crises, and what this suggests about future competitiveness

(The remainder of the article can be read in both English and Japanese. The Japanese article is published following the English version.)

ストルトとオドフェル、ホルムズ危機で際立つ「多角化」経営

ノルウェー系ケミカル2社の第1四半期決算、「ケミカル物流企業」への変貌

世界的なケミカル船の保有・運航大手でケミカル物流大手でもあるノルウェー系のストルト・ニールセン（Stolt-Nielsen）とオドフェルSE（Odfjell）が発表した2026年第1四半期決算は、単なる海運会社ではない「液体物流企業」としての強みを改めて浮き彫りにした。

■記事本文では以下の内容を読むことができます（記事全文約3,000文字）

→ホルムズ海峡混乱下でも、ストルトとオドフェルが比較的安定収益を維持できた背景とは何か

→「船会社」ではなく「液体物流企業」へ――欧州勢が進める多角化モデルの実像を整理

→ターミナル、タンクコンテナ、船隊運営を一体化した“物流インフラ型経営”の強みとは

→オドフェルCEOが示した「第2四半期改善見通し」の意味を、トンマイル増加と船腹需給から読み解く

→日本海運にも共通する「危機時でも物流を止めない能力」――今後の競争力の方向性を考察

（続きは英語と日本語で書かれた本文でお読みください。日本語の記事は英文記事に続いて掲載されています）