KPI OceanConnect pre-tax earnings dive 55% for FY2024/2025
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Global provider of marine energy solutions KPI OceanConnect on Tuesday (15 July) reported earnings before tax (EBT) of USD 9 million in its financial results for the year 2024/2025, falling from USD 20 million in FY 2023/2024.
The company said the reduction was due to investments in strategic initiatives and persistent downward pressure on margins, as well as generally challenging market conditions in most regions.
The company delivered close to 12 million metric tonnes (mt) of marine fuel, the same volume as the previous FY with an increase in revenue to USD 5.7 billion.
“Overall, the company is satisfied with the results, which reinforces its position as a trusted counterparty in a complex and evolving market,” the company said in a statement.
This year, KPI OceanConnect appointed its former COO Dorthe Bendtsen as its permanent Chief Executive Officer.
The company added Bendtsen’s qualifications and background in corporate governance has seen the company build significant capabilities needed to ensure a long term sustainable business designed to guide clients through current challenges such as decarbonisation, digitalisation, and regulatory change.
“We’ve sharpened our focus on delivering smarter, more efficient and cost-effective solutions to meet the industry’s evolving needs,” said Bendtsen, CEO of KPI OceanConnect.
“By putting people at the heart of our business, investing in the future structure of our organisation and building strong, values-driven partnerships, we’ve laid a solid foundation for long-term success.”
The company continued to invest in strategic partnerships and infrastructure to support the industry’s energy transition. KPI OceanConnect delivered the first waste-based HVO100 renewable diesel to cruise vessels in Asia-Pacific, and supported B24 and B30 biofuel deliveries in Singapore and Busan respectively, milestones in the practical application of new fuel solutions in real-world operations.
The group’s biofuel supply network extends to more than 150 terminals worldwide, enabling tailored fuel strategies for clients across all major shipping sectors, including cruise, container, PCTC, bulk, and chemical carriers.
These efforts are underpinned by the company’s continued investment in the Alternative Fuels & Carbon Markets team of experts, led by Jesper Sørensen. With global regulations such as FuelEU Maritime and EU ETS driving demand for compliant fuel solutions, KPI OceanConnect continues to play a key role in shaping the energy strategies of shipowners around the world.
“The maritime industry’s journey to a low-carbon future will take time but KPI OceanConnect is ready to lead it with integrity, insight, and a commitment to progress,” said Bendtsen.
In the past year, KPI OceanConnect also opened a new office in Tokyo, its fifth in Asia. The company said the move bolstered its ability to serve clients in the region, supporting local engagement in one of the industry’s most important markets.
Related: Singapore: KPI OceanConnect, partners deliver first renewable diesel to cruise industry
Related: KPI OceanConnect achieves 9% increase in annual bunker volume
Related: Interview: KPI OceanConnect dives deeper on its FY2023/2024 and what’s to come
Related: KPI OceanConnect names Dorthe Bendtsen CEO after interim period
Related: KPI OceanConnect expands Asia footprint with new Tokyo office
Photo credit: KPI OceanConnect
Published: 16 July 2025
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