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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.

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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. 

Related: USTC and Selfinvest more than double best consolidated annual result
Related: Yara Clean Ammonia and Bunker Holding to develop ammonia bunker supply network
Related: Bunker Holding scales up competences in low-carbon fuels with three new appointments
Related: Bunker Holding Group secures record-breaking credit facility of USD 1.11 billion

 

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

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Alternative Fuels

Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

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Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Taiwanese shipping firm Yang Ming Marine Transport Corporation (Yang Ming) and South Korean shipbuilder Hanwha Ocean on Wednesday (2 September) signed a shipbuilding contract for six 13,000 TEU class LNG dual-fuel container vessels. 

The contract was signed by Dr. Chuck Tsai, Chairman of Yang Ming, and Mr. Charles Kim, CEO of Hanwha Ocean. The vessels are scheduled for delivery between 2028 and 2029. 

They will complement Yang Ming’s existing fleet of 10,000+ TEU vessels and serve as key vessels on East-West services, with deployment flexibility across trade lanes connecting Asia with the East and West Coasts of North America, South America, and the Mediterranean. 

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

“As Yang Ming transitions toward net-zero emissions, LNG provides a relatively mature and economically viable alternative fuel solution, capable of reducing greenhouse gas emissions by approximately 20%,” the company said. 

“At the same time, ammonia can serve as a carbon-free fuel by utilising converted LNG storage facilities, while offering relatively lower conversion costs and comparatively well-developed supply chains and infrastructure. The Ammonia Fuel Ready design will therefore provide Yang Ming with greater flexibility in responding to increasingly stringent international regulations on greenhouse gas emissions.”

In addition, the vessels will be equipped with Type B LNG fuel tanks with a design pressure of 1.0 bar to enhance the safety and efficiency of LNG operations, together with a range of energy-saving technologies, including Wind Shields, Rudder Bulbs, Pre-Swirl Stators, and Shore Power Systems. Smart ship technologies and cybersecurity protection features will also be incorporated to enhance operational efficiency, safety, and reliability while effectively reducing fuel consumption and greenhouse gas emissions.

Deliveries under Yang Ming’s next-generation fleet optimization plan commenced earlier this year. By 2030, a total of 24 new vessels are expected to enter service. 

This includes 18 LNG dual-fuel vessels—comprising five 15,500 TEU, seven 16,000 TEU, and the six 13,000 TEU vessels under this contract—alongside six 8,000 TEU methanol dual-fuel-ready ships. 

 

Photo credit: Yang Ming Marine Transport
Published: 4 September, 2026

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Alternative Fuels

LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Both secured AiP for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

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LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Lloyd’s Register (LR) and the Marine Design and Research Institute of China (MARIC) on Thursday (3 September) have secured Approval in Principle (AiP) for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

Announced at SMM 2026, the concept addresses one of the biggest investment challenges facing shipping today: the need to develop vessels and capabilities that can support a range of alternative fuel options and pathways as technologies, infrastructure and regulations evolve.

While LNG is already a mature fuel pathway, methanol and ammonia remain at an earlier stage of development, with questions around global fuel availability, infrastructure development, economics and long-term adoption.

The 114,000 DWT tanker concept has been designed as a product and crude oil carrier that can accommodate future conversion to LNG, methanol or ammonia as technologies, regulations and fuel supply chains mature. By incorporating conversion readiness at the design stage, the concept aims to reduce future retrofit complexity and provide owners with greater confidence when planning long-term fleet investments.

The design concept was reviewed against LR’s July 2026 class rules and regulations, including requirements relating to ships using gases and other low-flashpoint fuels, alongside relevant IACS Common Structural Rules for oil tankers. Final classification and statutory approval remain subject to full compliance with all applicable rules and regulations.

Theo Kourmpelis, Global Business Director for Tankers, Lloyd’s Register, said: “Shipowners are being asked to make major investment decisions today despite continued uncertainty around which fuels will dominate in the decades ahead. Alternative fuel solutions each offer potential pathways to compliance, but fuel infrastructure, regulation and economics continue to evolve at different speeds around the world.

“Designs that preserve flexibility will be critical in helping owners manage risk while preparing for multiple future scenarios.”

Si Nan, Marine & Offshore Marketing Department Vice Director, MARIC, said: “As the industry explores different decarbonisation pathways, shipowners need vessel designs that can adapt alongside technological and regulatory developments. This concept was developed specifically to provide greater fuel flexibility and long-term resilience, allowing owners to respond to changing market requirements without being locked into a single fuel strategy.

“Receiving Approval in Principle from Lloyd’s Register is an important milestone that validates the design concept and supports its future development.”

 

Photo credit: Lloyd’s Register
Published: 4 September, 2026

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Alternative Fuels

DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

LNG-fuelled vessels accounted for the vast majority of August activity while the strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year.

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DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

Latest data from classification society DNV’s Alternative Fuels Insight (AFI) platform alternative-fuelled vessel ordering was strong in August, with 52 new vessels added to the platform.

This is the highest monthly total since October 2024 and follows another active month in July, when 47 vessels were added to the database.

LNG-fuelled vessels accounted for the vast majority of August activity, with 46 orders recorded. The container segment led the way with 30 orders, while the car carrier segment contributed a further 12 LNG-fuelled vessels. In addition, four ethanol-fuelled bulk carriers and two hydrogen-powered bulk carriers were added during the month, as well as one LNG bunker vessel.

The strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year. In total, 242 alternative-fuelled vessel orders have been placed in the first eight months of 2026, representing a 27% increase compared with the same period in 2025.

LNG remains the dominant fuel choice, accounting for 63% of all alternative-fuelled vessel orders registered so far this year. Container vessels represent the largest share of these LNG orders (59%), followed by car carriers (30%).

Jason Stefanatos, Global Decarbonization Director at DNV Maritime, said: “The past two months have been particularly strong for alternative-fuelled vessel ordering, with August recording the highest monthly total we’ve seen since October 2024. This has helped lift year-to-date orders to a level well above the same period last year.

“LNG remains the leading fuel choice, driven largely by activity in the container and car carrier segments. These sectors have been among the earliest adopters of alternative fuels, supported by predictable liner operations and increasing demand from cargo owners to reduce emissions across supply chains. 

“For many owners, LNG offers a combination of emissions reductions, fuel availability and future flexibility while the longer-term fuel landscape continues to evolve. 

“At the same time, the latest figures include orders for ethanol- and hydrogen-fuelled vessels, highlighting that owners continue to explore a range of decarbonization pathways. Different segments are making different fuel choices, but the overall level of activity demonstrates continued investment in lower-emission shipping.”

Screenshot 2026 09 04 at 12.29.26 PM Screenshot 2026 09 04 at 12.29.36 PM

 

Photo credit: DNV
Published: 4 September, 2026

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