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

3 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

FuelEU

FincoEnergies launches pooling service for FuelEU Maritime compliance

FuelEU Pooling service enables undercompliant vessels to meet their compliance targets by pooling with vessels running on GoodFuels sustainable bio bunker fuels.

Published

8 hours ago

April 21, 2025

Admin

GoodFuels biofuel supplier FincoEnergies on Wednesday (16 April) announced the launch of its FuelEU Pooling service, created to enable shipowners to meet FuelEU Maritime compliance in a cost-effective way.

FuelEU Maritime, effective from 1 January 2025, mandates the reduction of greenhouse gas intensity of energy used on board ships trading in the EU. For many operators, particularly those with limited access to low-carbon fuels, compliance can be both complex and costly.

Designed for shipowners, operators, charterers, and technical managers, FincoEnergies’ FuelEU Pooling service enables undercompliant vessels to meet their compliance targets by pooling with vessels running on GoodFuels sustainable biofuels, when these vessels are overcompliant and have ‘Surplus’ emission reduction available for allocation.

FincoEnergies also partnered with Lloyd’s Register (LR), who supported the development of the service. Their technical expertise has enabled shaping a solution that aligns with both regulatory requirements and FincoEnergies' established position as a biofuel supplier in the fuel supply chain.

“FuelEU Maritime represents one of the most important regulatory shifts for the shipping industry in decades,” said Alberto Perez, Global Head, Maritime Commercial Markets at LR. “By integrating technical expertise with strategic guidance, we ensure shipowners, operators, and suppliers not only comply with evolving emissions standards, but also proactively transform their operations, embracing new technologies and alternative fuels to ensure a sustainable and profitable future.”

“With a decade of experience in biofuel bunkers and carbon certificate trading in the voluntary market, we are excited to expand our creative and solution-oriented product portfolio with FuelEU Pooling,” said Johannes Schurmann, Commercial Director International Marine at FincoEnergies.

“Thanks to our physical presence in the supply chain, shipping companies looking for FuelEU surplus can confidently rely on us as a trusted partner in their decarbonisation journey.”

Through its role as Pool Organiser, FincoEnergies streamlines the entire pooling process – from performing biofuel bunkers and prefinancing Surplus, to Surplus allocation and pool verification. With cost-effective pricing, FuelEU Pooling provides shipping companies with a competitive alternative for changing their fuel mix themselves.

Photo credit: FincoEnergies
Published: 21 April, 2025

ECA

PO/Marine launches supply of MED ECA-compliant ULSFO bunker fuel

In preparation of the upcoming Mediterranean Emission Control Area regulation, PO/Marine successfully delivered its first supply of ULSFO with 0.10% sulphur content on 15 April.

Published

8 hours ago

April 21, 2025

Admin

Aydın Yıldız, Head of Marine Sales at Petrol Ofisi Group

Petrol Ofisi’s bunkering arm PO/Marine on Thursday (17 April) said it has completed the bunkering operation of ULSFO—a marine fuel with 0.10% sulphur content—in alignment with the upcoming Mediterranean Emission Control Area (MED ECA) regulation.

Under the new regulation, all vessels operating within the Mediterranean must use low-sulphur marine fuels.

Effective 1 May 2025, the Mediterranean will officially be designated as an Emission Control Area (MED ECA), prohibiting the use of marine fuels with sulphur content exceeding 0.10%.

In preparation for this regulatory transition, PO/Marine successfully delivered its first supply of ULSFO (Ultra Low Sulphur Fuel Oil) with 0.10% sulphur content on 15 April.

PO/Marine launches supply of MED ECA-compliant ULSFO bunker fuel

Aydın Yıldız, Senior Maritime Manager at Petrol Ofisi Group, said: “Our leadership in the maritime fuel sector is defined not only by our market share but also by the innovative steps we take to shape the industry.

“Successfully completing the supply of marine fuel with 0.10% sulphur content in alignment with the MED ECA transition in Türkiye is a concrete reflection of this. We previously led the way with the country’s first VLSFO bunkering operation, setting a precedent in our sector.

“With our ULSFO bunkering, we have once again demonstrated that we are setting the standard in Türkiye’s marine fuel landscape. The designation of the Mediterranean as an Emission Control Area is not only a regional development but a historic turning point for global maritime operations.”

Photo credit: PO/Marine
Published: 21 April, 2025

Bunker Fuel

Oilmar completes first ULSFO bunker fuel delivery in Türkiye

Company announced the successful completion of its first ULSFO 0.1% Sulphur delivery in Istanbul and is now offering the marine fuel in several key locations including Istanbul Anchorage and Marmara Sea.

Published

8 hours ago

April 21, 2025

Admin

UAE-based marine fuel and petroleum products trader Oilmar DMCC on Friday (18 April) announced the successful completion of its first ULSFO 0.1% Sulphur delivery in Istanbul, marking one of the very first trades of its kind in the country.

“With this milestone, Oilmar proudly steps forward as one of Türkiye’s pioneering trading companies in ULSFO 0.1% Sulphur fuel,” it said in a social media post.

Oilmar is now offering ULSFO 0.1% across key locations:

Istanbul Anchorage
Marmara Sea
Gulf of Derince
Bozcaada Anchorage
Southern Türkiye Ports

In addition, High Sulphur Fuel Oil (HSFO), Very Low Sulphur Fuel Oil (VLSFO), Ultra-Low Sulphur Fuel Oil (ULSFO), and Low Sulphur Marine Gasoil (LSMGO) are available at all ports across Türkiye.

Photo credit: Dima Rogachevskiy on Unsplash
Published: 21 April, 2025