Genoa-based international shipping and logistics company Fratelli Cosulich Group on Thursday (31 July) recorded EUR 58.6 million (USD 68 million) in EBITDA in 2025, substantially in line with the EUR 59.7 million recorded in 2024 and remaining close to its all-time highs. 

The company’s consolidated turnover reached EUR 1.877 billion, compared with EUR 2.128 billion in 2024.

“This decrease must be read considering the significant weight of Marine Energy and bunker trading activities, where turnover is naturally influenced by fuel prices, market dynamics and the euro dollar exchange rate,” the company said in its 2025 annual report. 

“For this reason, the reduction in revenues does not represent a proportional decrease in the Group’s operational strength.”

The Group recorded a net profit of EUR 20 million with its marine energy business unit delivering EUR 7.1 million. The unit also achieved EUR 16.8 million in EBITDA. 

In 2024, the company recorded a net profit of EUR 20.6 million with its marine energy business unit delivering EUR 5.6 million. The unit also achieved EUR 28.1 million in EBITDA. 

On the performance of its bunker trading activity, also during the year just ended, as in 2024, the company said margin stabilisation was recorded, remaining at levels similar to the average of previous years.

Bunker Trading revenue, the Group’s core activity, at the end of the year stood at approximately EUR 1.382 million compared to approximately EUR 1.638 million in 2024.

“In 2025, Marine Energy exceeded expectations in a more competitive market marked by lower prices, strengthening its results through a solid commercial structure, key account relationships and a focused approach to smaller bunkering hubs,” the company said.
 “Commercial development was supported by further expansion towards Asian customers, including the opening of a dedicated Japan desk, while the unit prepared the basis for a future local presence.”

The company added that the transition towards a multi-fuel offering continued to move from strategy to operations. 

In Singapore, the unit completed its first B100 biofuel bunker delivery through Marta Cosulich, demonstrating its ability to provide lower-carbon alternatives using its future-ready fleet. 

The Group also entered into a strategic cooperation with a “long-established shipping player” to explore opportunities in methanol, LNG and ammonia bunkering.

The company added that fleet development remained central. 

“Construction progressed on the new series of methanol-ready IMO II chemical bunker tankers, while Maya Cosulich was delivered in December,” it said.

“Designed for safe and efficient alternative fuel delivery, she represents another tangible step in expanding the unit’s physical capabilities for the evolving needs of maritime customers.”

Related: Fratelli Cosulich marine energy unit records EUR 5.6 million profit in 2024

Photo credit: Fratelli Cosulich
Published: 12 August, 2026

New York-listed global energy management company World Kinect Corporation recently announced that it recorded a 57% on year increase in gross profit for the second quarter (Q2) of 2026.

The company posted gross profit of USD 365 million in Q2 2026, higher than gross profit of USD 232 million seen during Q2 2025.

Revenue for its combined aviation, land and marine segments in Q2 2026 was USD 13.6 billion, a 50.4% increase from revenue of USD 9.04 billion in Q2 2025.

Specifically, the marine segment generated gross profit of USD 79.7 million in Q2 2026, up by 195% on year from USD 27 million in Q2 2026.

The company noted that this was the highest quarterly gross profit in the history of the segment. 

This was primarily driven by higher profit contribution from the company’s core resale business and certain physical locations, which benefited from increased bunker fuel prices and elevated market volatility.

In total, WKC sold 3.5 million metric tonnes (mt) of bunker fuel during Q2 2026, down by 10% from 3.9 million mt of marine fuels during the similar period of last year.

According to the earnings call transcript for Q2 2026, Mike Tejada, Executive Vice President and Chief Financial Officer, said marine volume was down 10% year-over-year, driven principally by lower demand tied to the Middle East conflict. 

“Despite the lower volume, marine gross profit increased almost three times the prior year level to $80 million, the highest quarterly gross profit in the history of the segment,” he said. 

“Both the core resale business and certain physical supply locations were meaningfully higher year-over-year, benefiting from elevated bunker fuel prices, increased volatility, and disciplined yield management. 

“The year-over-year comparison also benefited from a particularly low second quarter last year when the global tariff disruption weighed on trade flows and customer demand. Looking to the third quarter and considering our July activity to date, we expect marine gross profit to be up year-over-year, reflecting continued momentum in the business.”

Ira M. Birns, Chief Executive Officer, said: “Aviation and marine each delivered record quarterly gross profit, supported by favorable market conditions, including continued volatility associated with the conflict in the Middle East. 

“During periods of disruption, customers place an even greater premium on certainty of supply, operational execution, and trusted relationships. That is where our supplier relationships, local market knowledge, and global platform become especially valuable.”

Photo credit: World Kinect Corporation
Published: 28 July, 2026

Global bunker trading company Glander International Bunkering on Tuesday (14 July) announced its financial results for the year ended April 30, 2026 – reporting a turnover of nearly USD 2 billion and earnings before tax (EBT) of USD 23.4 million.

In the previous year, the company reported a turnover of USD 3 billion and EBT of USD 22 million, including a non-recurring item.

The results come after shipping has faced a year of regulatory acceleration, disrupted trade routes and tight avails.

There was a fundamental shift in market conditions, with geopolitical tensions, Red Sea risks and US tariffs. This was later compounded by the conflict in the Middle East conflict, which led to severe restrictions in the Strait of Hormuz and widespread rerouting, longer voyage time and increased freight costs.

CEO Carsten Ladekjær noted: “The real challenge was managing uncertainty, especially when things are changing by the day, sometimes by the hour. What has stood out is how our teams across the world have responded, how they have stayed close to clients and navigated that disruption in real time.”

Fuel EU entered its first full compliance cycle, becoming a direct factor in voyage economics. Then regulatory uncertainty persisted with key decisions at the MEPC in October being delayed.

Appointed Head of New Fuels in February 2026, Dionysis Diamantopoulos has overseen the continued expansion of the company’s new fuels offering during the past critical few months. 

He said, “We are supporting clients through a wide and evolving portfolio that includes biofuels and biofuel blends, LNG and bio-LNG, pooling and insetting solutions.”

“This approach has allowed us to increase our visibility in the market and contributed to doubling our new fuels volumes over the past year.”

Glander International Bunkering has continued to develop its approach to well-to-wake bunker management, which is a more integrated model of managing fuel, emissions, price and risk.

Ladekjær explains: “It has undeniably been a volatile year for global shipping, and it has changed our role in bunker trading. Our clients do not only come to us for fuel supply, they come to us to manage cost, compliance, and risk.”

The company said this approach reflects a broader shift in the market, where bunker decisions are no longer standalone transactions. They are directly linked to cost exposure, compliance and operational performance across the full fuel lifecycle.

Related: Glander International Bunkering reports EBT of USD 22 million for FY2025

Photo credit: Glander International Bunkering
Published: 15 July, 2026