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.
Related: Dan-Bunkering ends satisfactory financial year with revenue of more than USD 1 billion
Related: Selfinvest and USTC Group deliver highest consolidated financial result
Related: United Shipping and Trading Company welcomes Nina Østergaard Borris as new CEO
Related: Bunker Holding Global Head of Commercial Operations departs for CM Biomass CFO position
Note: Past articles regarding Bunker Holding and Dan-Bunkering’s court case can be found here.
Photo credit: Bunker Holding
Published: 1 July, 2022
‘The MOU will foster innovation in smart and autonomous ship technologies, and support the use of green ammonia as a sustainable fuel to help decarbonise global shipping,’ says the Chief Executive of MPA.
PetroSeraya appoints YTL PowerSeraya veteran See Yoong Hwee to drive its fuel tank leasing operations; together with Rafe Liam as Commercial Manager, they will spearhead the company’s initiatives.
‘This biofuel bunker delivery represents a new chapter for Eng Hua as we are now moving with the times towards the era of decarbonisation,’ Mike Sin, Director at Eng Hua, tells bunkering publication Manifold Times.
MPA has also asked Glencore to improve its internal procedures to ensure that prompt action is taken in future when it becomes aware of, or reasonably suspects, any irregularity in fuel quality, it states.
Dynamic Asset Investments Limited and Goldsland Holdings Co Ltd helped Vermont UM Bunkering maintain a “Cash Float” of about SGD 100,000 to facilitate “buyback” bunker transactions at Singapore port.
Senior Cargo Officer gained SGD 48,800 worth of commission from “buyback” bunker transactions and illegally obtained SGD 410,712.257 by cheating Vermont, a Singapore court heard on Thursday (21 July).