Business

Bunker Holding Group delivers ‘excellent annual result’ of USD 222.7 million in EBT

Group says its annual result of USD 222.7 million in earnings before tax is more than double the previous year’s record-setting result; revenue raised by 7.6% to USD 17.8 billion.

Published

2 years ago

June 27, 2023

Admin

Marine fuels and lubricants supplier Bunker Holding Group on Monday (26 June) said it delivered an excellent annual result of USD 222.7 million in earnings before tax, more than doubling the previous year’s record-setting result, after one year into a new Group strategy, and during a year of geopolitical turmoil, high inflation, and heavy sanctions across the industry.

Raising the revenue by 7.6% to USD 17.8 billion, Bunker Holding Group broke the previous year’s record results. With an EBT of USD 222.7 million, Bunker Holding Group more than doubled its EBT year-on-year.

The Group said delivering this result was ‘remarkable’ in a year of significant investments in ESG, supply constraints, and volatile pricing.

“Bunker Holding Group effectively came through due to high levels of agility and strong financial backing by banking partners,” it said in a statement.

“This past year has been like no other. Energy prices have been fluctuating greatly, underlining the necessity of strong credit lines. This was enabled by our new funding framework with our bank syndicate finalised in Q2 of 2023 and extended to USD 3.2 billion, allowing us to keep our trusted clients sailing by offering strong support,” Keld R. Demant, CEO of Bunker Holding Group, said.

“While we saw a slight dip in our trade volumes this year, this is explained by a conservative approach towards this year’s sanctions regime and our focus on supplying customers where our key value proposition of simplicity and credit strength best fit their requirements. We have taken a strong lead in managing risk and are determined to remain best in class in our industry.”

Bunker Holding Group’s new bank syndicate is backed by 15 banks from Europe, the Middle East, and Asia, adding an increased global aspect as well as local market familiarity to the Group’s banking partners. This underlines the trust shown in Bunker Holding Group across international markets.

Going into the financial year of 2022/23, Bunker Holding Group released its first ever ESG report with the second report scheduled for publishing in September of 2023. This marked the full commitment by Bunker Holding Group towards environmental, social, and governance issues.

“As Bunker Holding Group looks ahead, the green transition leads the race on our agenda, and we are taking many measures to address this. However, this year we also prioritised new global policies regarding parental leave, a senior policy, as well as a stress policy. We believe in our ability to remain competitive is only as strong as our many talented employees to whom we owe a great thanks for this year’s results,” Keld R. Demant, added.

Bunker Holding Group has established an internal Centre of Excellence dedicated to supporting the Group’s role in facilitating the decarbonisation of the industry. Bunker Holding Group has appointed global experts with specialist knowledge of LNG, ammonia, and biofuels, as well as experts on environmental regulatory and public affairs, a subject that is becoming even more important to the industry. Furthermore, the Group has participated in ten ambitious development projects.

“Bunker Holding Group is optimistic in its competitive position for the coming financial year, and eager to take on the complexity of a changing industry,” it concluded.

Photo credit: Bunker Holding Group
Published: 27 June, 2023

Business

SMW 2025: MPA and Dalian Maritime University to partner on joint maritime training

Both signed a MoU to enhance talent development and academic exchange between Singapore and China, focusing on maritime digitalisation and decarbonisation and covering areas such as clean energy.

Published

5 hours ago

March 28, 2025

Admin

SMW 2025: MPA and Dalian Maritime University to partner on joint maritime training

The Maritime and Port Authority of Singapore (MPA) and Dalian Maritime University (DMU) on Friday (28 March) said they have renewed their Memorandum of Understanding (MoU) to enhance talent development and academic exchange between Singapore and China in the maritime sector.

The MoU renewal was signed by MPA Chief Executive, Mr Teo Eng Dih, and Professor Shan Hongjun, President of DMU. This renewal builds on the successful collaboration established since 2021, and further strengthens talent development and knowledge exchange between both maritime ecosystems.

As part of the MOU, MPA and DMU will continue to engage in faculty exchanges, study visits and student exchanges in Singapore and Dalian, and joint maritime training and research programmes. Trainers from MPA, including subject matter experts and adjunct trainers, will contribute to courses, events and knowledge sharing.

The collaboration will focus on digitalisation and decarbonisation, covering areas such as clean energy and sustainable practices in the maritime sector, digital transformation of maritime operations, environmental management, maritime safety, navigational technologies, and port management and smart technologies.

DMU is home to world-class facilities, including two ocean-going training vessels and state-of-the-art research centre. A leader in autonomous ship technology and innovation in smart and sustainable shipping, the university has recently launched its 3rd ocean-going new generation autonomous training vessel.

Mr Teo Eng Dih, Chief Executive, MPA, said, “The renewal of this MOU reflects the strong partnership between MPA and DMU. As the maritime industry evolves, our collaboration in maritime education and training is more crucial than ever in preparing the next generation of maritime professionals. This agreement will enhance maritime talent development and knowledge sharing between Singapore and China, fostering innovation and sustainability in the maritime sector.”

Photo credit: Maritime and Port Authority of Singapore
Published: 28 March, 2025

Environment

SMW 2025: Maritime drone training for ship emission monitoring to be established

MPA and Republic Polytechnic ink a MoU to start a specialised Unmanned Aircraft Pilot Training programme for MPA pilots to operate drones for maritime applications such as monitoring vessel emissions.

Published

5 hours ago

March 28, 2025

Admin

The Maritime and Port Authority of Singapore (MPA) and Republic Polytechnic (RP) have signed a Memorandum of Understanding (MoU) to establish a specialised Unmanned Aircraft (UA) Pilot Training programme for MPA UA pilots, which will also provide internship opportunities for RP students.

This initiative aims to equip MPA, as well as commercial UA pilots, with advanced competencies to operate drones for maritime applications. These include inspection of vessel structures, monitoring of vessel emissions, and supporting emergency response efforts.

The course will cover essential skills, including take-off and landing from vessels, emergency procedures at sea, and Beyond Visual Line of Sight operations. UA pilots will also be trained to operate drones equipped with various sensor payloads such as electro-optics, infrared, and multispectral imaging. Tethered drone operations, which enable extended flight times for surveillance and monitoring, will also be included.

Under this five-year collaboration arrangement, MPA and RP plan to develop competency frameworks for UA pilots operating at sea, and will train over 20 MPA UA pilots annually. The collaboration will also explore the potential development of a maritime-specific qualification for UA pilots for interested parties. The training will be conducted by RP’s team of full-time lecturers who are also certified UA Pilot Licence trainers.

Through this partnership, RP students have internship opportunities with MPA, and can explore potential career pathways as UA pilots and watch supervisors coordinating the deployment of unmanned systems for port operations and maritime safety.

RP lecturers and students will also have opportunities to gain industry exposure and practical experience through participation in MPA’s upcoming drone-related projects. In addition, RP will work with MPA in relevant committees and forums to shape policies, safety standards, and regulations for maritime drone operations.

In 2025, MPA will trial new drone capabilities, including coordinated drone operations for chemical spill management and the Maritime Drones Traffic Management System to ensure safety in port waters.

The Maritime Drone Estate, launched in 2021, will also be expanded to support commercial drone services such as remote inspections and shore-to-ship deliveries. These advancements will contribute to safer, more fuel-efficient, and sustainable maritime operations.

Photo credit: Maritime and Port Authority of Singapore
Published: 28 March, 2025

Alternative Fuels

SMW 2025: Geospatial tools to be explored for port operations including bunkering

MPA and partners will explore the use of geospatial tools to develop solutions to improve safety and efficiency of port operations, such as bunkering of alternative fuels and vessel navigation.

Published

5 hours ago

March 28, 2025

Admin

SMW 2025: Geospatial tools to be explored for port operations including bunkering

The Maritime and Port Authority of Singapore (MPA) on Wednesday (26 March) signed a memorandum of understanding (MoU) with several partners to promote knowledge-sharing initiatives and explore geospatial technologies to address real-world challenges in the republic.

Partners will explore the use of geospatial tools to develop solutions to strengthen preparedness, monitor sea level rise, and improve the safety and efficiency of port operations, such as vessel navigation, marine services and the bunkering of alternative fuels.

MPA signed a three-year MOU with Jurong Port, Singapore Cruise Centre Private Limited, Esri Singapore, Hexagon’s Safety Infrastructure and Geospatial Division, Nika, Technology Centre for Offshore and Marine, Singapore (TCOMS), A*STAR Institute of High Performance Computing (A*STAR IHPC) and the Centre of Excellence in Modelling and Simulation for Next Generation Ports (C4NGP) in the College of Design and Engineering of the National University of Singapore (NUS).

Geospatial tools use location-based data such as satellite images, traffic and weather data, and sensor readings from buoys and on land to create 2D and 3D visual insights.

These can help stakeholders monitor real-time conditions, manage risks, and plan operations more effectively by improving risk management and decision-making, and enhancing operational planning for improved safety and efficiency.

MPA also signed a three-year MOU with NUS to develop a skilled maritime geospatial workforce.

Under this partnership, MPA and NUS will explore the development of maritime geospatial courses for NUS undergraduate and post-graduate geography students, and a professional certification programme for mid-career professionals.

The maritime geospatial programmes will cover skills in 2D and 3D mapping, geospatial analytics, and advanced environmental and operations modelling. This will build a pipeline of talent equipped with the skills and knowledge to drive maritime geospatial innovation in the industry and government.

Photo credit: Maritime and Port Authority of Singapore
Published: 28 March, 2025