Business

Dan-Bunkering ends satisfactory financial year with revenue of more than USD 1 billion

Despite the record revenue, EBT has been negatively influenced by financial impact of the December court case, where Dan-Bunkering was convicted of having acted with unintentional negligence.

Published

3 years ago

June 28, 2022

Admin

Having endured a year of severe adversity with war in Ukraine, Covid, and volatile oil prices, Dan-Bunkering was able to present a great financial result, with a revenue of more than USD 1 billion, and a positive earnings before tax (EBT) of USD 13.5 million while adding multiple new offices to their global network, according to the firm on Monday (27 June).

Revenue has increased 58%, landing on USD 1,003 million, opposed to last year’s USD 631 million, despite traded volume has remained largely on par. EBT of the bunker company is also positive, amounting to USD 13.5 million.

This year, the company has followed a strategy of expansion, adding both the broker offices of LQM in the US, as well as the trader office of South African Bunkering and Trading (SABT) in Cape Town, South Africa, to their network.

“Delivering solid results while maintaining our talented employees is something we’re extremely proud of, and something that really is key to our success. Going forward we’re determined to keep providing our clients with the best possible service, moving closer to them in terms of anticipating and catering to their needs, by expanding on our products in the green transition and providing the necessary market expertise, becoming the preferred partner in bunkering,” says Claus Bulch Klausen, CEO of Dan-Bunkering.

A challenging year of headwinds

Despite the record revenue, the EBT has been negatively influenced by the financial impact of the court case in December, where Dan-Bunkering was convicted of having acted with unintentional negligence. The fine levied against Dan-Bunkering accounts for the difference in EBT, which would otherwise have exceeded last year’s result.

“This has been a challenging year, not only in terms of difficult markets and supply chain constraints, but also because of the court case we underwent in the winter of 2021. However, having been scrutinized during the course of the case proceedings, we have learned a lot, and having emerged on the other side we are left humbled but still strengthened,” says Claus Bulch Klausen and expands on the subject:

“Being able to move on with the experiences we have made, has not only strengthened our ability to tackle compliance in a complicated world, but has also revealed a tremendous amount of loyalty and trust in us by our clients, suppliers, banking partners, and not least our employees, whom have been under constants stress by this case for years, but none the less have stuck by us. And for that, we are grateful.”

With a strong result, multiple new offices, and dedicated team, the outlook for the coming year is positive, allowing Dan-Bunkering to focus on new mergers and acquisitions while providing the best client service possible.

Note: Past articles regarding Bunker Holding and Dan-Bunkering’s court case can be found here.

Photo credit: Dan-Bunkering
Published: 28 June, 2022

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