Business

Bunker Holding Group outlines ‘second-most profitable year’ for FY 2021/2022

Records increased bunkering volume of 3% and 69.3% rise in revenue, due to increased oil prices on global markets and global logistics returning to normal post-covid.

Published

4 years ago

July 1, 2022

Admin

Top bunker supplier to the maritime industry Bunker Holding Group on Thursday (30 June) said it has had a “record-breaking year” after recording an increase in volume by 3% and an increased revenue by 69.3%, reaching a record high of USD 16,539 million for its 2021/2022 financial year.

The company said this was much due to increased oil prices on global markets and global logistics returning to normal post-covid.

The rising demand for bunker and lubricants has also translated into the second-most profitable year for Bunker Holding Group with an EBT of USD 102 million, said the group.

“Creating strong results while facing adversity has become something of a trademark at Bunker Holding,” said Keld R. Demant, CEO of Bunker Holding Group.

“This year we’ve dramatically increased both top and bottom line despite Covid still causing disruptions to global logistics supply lines. Our focus on creating value to our customers has been pivotal to our success, something that’s only been made possible because of our skilled and dedicated employees.”

Bunker Holding Group also launched their new five-year strategy, headlined ‘Fueling the Future’ in spring of 2022, with the aim to become the preferred and trusted partner and advisor in the bunkering industry.

The Group is going to be further investing in its ability to provide clients with an even higher level of advisory on new fuels or new industry standards, as Bunker Holding becomes more involved in the process of decision-making via partnerships.

Bunker Holding also announced two additions to its Board of Directors who are Anja Morad, who is currently responsible for Dell Technologies in the Western European region and Kristin Færøvik, the former Managing Director of Lundin Energy Norway AS.

Having served on the board since 2014, Peter Korsholm is stepping down as board member of Bunker Holding in order to free up time to focus on his future board obligations as well as investments.

As previously announced, Torben Janholt is also stepping down, having served on the Bunker Holding board since 2006.

Torben Østergaard-Nielsen, founder, and co-owner of USTC, is stepping down as chairman to assume the role of vice chairman.

Klaus Nyborg will step up from vice chairman to become the new chairman of the board of Bunker Holding A/S.

Bunker Holding’s Board of Directors will consist of Klaus Nyborg as chairman, Torben Østergaard-Nielsen as vice chairman, Nina Østergaard Borris, Mia Østergaard Rechnitzer, PeterAppel, Morten Buchgreitz, Peter Frederiksen, Anja Monrad and Kristin Færøvik.

Note: Past articles regarding Bunker Holding and Dan-Bunkering’s court case can be found here.

Photo credit: Bunker Holding
Published: 1 July, 2022

Methanol

China: Chimbusco takes delivery of new methanol bunkering vessel in Zhoushan

Company says commissioning of “Zhong Ran LV Neng 85” will further enhance its service capabilities in green methanol bunkering in major domestic ports.

Published

15 minutes ago

June 16, 2026

Admin

Chimbusco takes delivery of new methanol bunkering vessel in Zhoushan

China Marine Bunker (PetroChina) (Chimbusco) recently took delivery of its first bunkering vessel in China to deliver methanol to dual-fuel ships.

The 8,500-dwt duplex stainless steel chemical tanker Zhong Ran LV Neng 85 was successfully delivered in Zhoushan.

The company said the commissioning of this new ship will further enhance Chimbusco’s service capabilities in green methanol bunkering in major domestic ports and expand its national marine new energy service and support network

During the delivery period, Chimbusco said it focused on safe operations and conducted special training for all crew members of the vessel.

The training covered methanol bunkering operation specifications, prevention of collisions between commercial and fishing vessels, daily vessel reporting, and voyage report filling standards.

Manifold Times previously reported the launching of the bunkering vessel at Taizhou Fangzhen Shipbuilding Wharf in Zhejiang.

The floating out of the ship comes after Chimbusco has obtained methanol bunkering licences for Shanghai Port and Ningbo Port.

Photo credit: China Marine Bunker (PetroChina) (Chimbusco)
Published: 16 June, 2026

LNG Bunkering

CCEC and CMA CGM form joint venture to build and operate LNG bunkering vessel

Each party will hold a 50% ownership stake in the joint venture, which has been established for the purpose of constructing, chartering, and operating one 20,000 cbm dual-fuel LNG bunkering vessel.

Published

20 minutes ago

June 16, 2026

Admin

Capital Clean Energy Carriers Corp. (CCEC), an international owner of ocean-going gas vessels, on Friday (12 June) announced the formation of a joint venture company with CMA CGM.

Each party will hold a 50% ownership stake in the joint venture, which has been established for the purpose of constructing, chartering, and operating one 20,000 cbm dual-fuel LNG bunkering vessel.

The joint venture marks CCEC’s entry into the LNG bunkering segment, the company’s first vessel dedicated to marine fuel supply.

In connection with this transaction, the joint venture has entered into a shipbuilding contract with Nantong CIMC Sinopacific Offshore & Engineering (CIMC SOE) for the construction of the vessel at a contract price of USD 82.8 million, with delivery expected in the third quarter of 2028.

Incorporating the latest technologies, the vessel is designed to enable safe and reliable LNG transfers across a wide range of operating conditions. Advanced emissions reduction systems, combined with highly efficient dual-fuel power generation, are designed to help the vessel meet applicable environmental standards of the global shipping industry.

In addition, the joint venture is expected to enter into a 12-year time charter with a joint venture company formed between CMA CGM and TotalEnergies, commencing upon delivery of the vessel from the shipyard.

Jerry Kalogiratos, CEO of Capital Clean Energy Carriers, commented: “This joint venture marks CCEC’s entry into LNG bunkering — a natural extension of our gas platform from carriage into marine fuel supply.

“Working alongside counterparties of the calibre of CMA CGM and TotalEnergies, we can help build the infrastructure that allows LNG to deliver a cleaner emissions profile, alongside security and diversity of supply, while opening a new, long-term contracted revenue stream for the Company through the Joint Venture.”

Christine Cabau, Executive Vice President Operations and Assets of CMA CGM, said: “Together with Capital Clean Energy Carriers and TotalEnergies, we are committed to building a reliable and high-performance LNG bunkering supply chain, which is essential to ensuring the availability and reliability of fuels such as LNG that represent the first step in the decarbonization of our industry.”

Photo credit: Scott Graham
Published: 16 June, 2026

Incident

UK forces intercept suspected Russian shadow fleet tanker in English Channel

In the first UK-led operation of its kind, the vessel “SMYRTOS” was boarded by Royal Marine Commandos and law enforcement officers from the National Crime Agency.

Published

23 minutes ago

June 16, 2026

Admin

UK forces intercept suspected Russian shadow fleet tanker in English Channel

British Armed Forces on Sunday (14 June) boarded a sanctioned oil tanker, suspected of being part of the Russian shadow fleet, in the English Channel, according to the Ministry of Defence.

In the first UK-led operation of its kind, the vessel SMYRTOS was boarded by Royal Marine Commandos and law enforcement officers from the National Crime Agency.

The UK’s Prime Minister agreed in March that British Armed Forces and law enforcement officers were able to board shadow fleet vessels, in accordance with international law.

The SMYRTOS will be provisionally moved to an anchorage off the South Coast of England and will be monitored for any environmental or safety concerns.

UK’s Prime Minister Keir Starmer, said: “This operation delivers yet another blow to Russia and reminds those fueling Putin’s war in Ukraine that they cannot hide.

“I want to pay tribute to all those involved, including our Armed Forces and law enforcement officers who keep this country safe 24 hours a day, 365 days a year.”

The operation builds on recent support provided by the UK to its allies to interdict shadow fleet vessels, which included RAF and Royal Navy capabilities supporting US and French operations. The operation was conducted in close coordination with the French.

The UK has sanctioned almost 600 Russian shadow fleet vessels to date.

Photo credit: Ministry of Defence
Published: 16 June, 2026