• Follow Us On Our Preferred Social Media Platform:

Mabanaft: ‘Unsatisfactory’ 2017 bunker results

01 Jun 2018

Mabanaft, the trading division of Hamburg-based independent energy supply, trading and logistics group Marquard & Bahls (M&B), which oversees operations of bunkering firms Bomin, Matrix Marine and NWB Bunker recorded ‘unsatisfactory’ bunkering results in 2017, says its parent.

“The Mabanaft group realised strong sales, with a mixed overall business performance,” notes M&B in comments regarding its 2017 financial results.

“While wholesale trading and bunkering recorded unsatisfactory results, the positive trend in the retail sector continued.

“The merger of trading activities into ‘Global Books’ and further adaptions form a strong basis for the trading businesses future international growth.”

The trading group posted total oil product sales volume of 27.2 million metric tonnes (mt) during 2017, a 9.7% increase over 24.8 million mt in the year before.

Overall, M&B ended 2017 with net income of EUR 34.6 million and operating result of EUR 200 million.

“The tank storage logistics division again made a strong contribution,” it says.

“Aviation fuelling and the end-consumer business also achieved good to very good results.”

Oiltanking, the group’s tank storage logistics arm, recorded a successful albeit mixed year for 2017.

“Some sites saw a decline in capacity utilisation. At the same time, many contracts were extended and several major projects advanced,” it explained.

“In Matola, Mozambique, Oiltanking successfully commissioned a new tank terminal.”

At year-end, Oiltanking operated 80 terminals in 25 countries, with a total capacity of 21 million cbm.

M&B’s aviation fuelling division, Skytanking, had a good business year and continues its expansion.

“Many sites in Europe, India and Africa reported an increase in throughput volumes,” it shares.

“Key events included the start of aviation fuelling in Malta, and the acquisition of the Sun Jet Services Group in Germany.

“Following this transaction, Skytanking is now the market leader for aviation fuelling in the German, Switzerland and Austria region.”

At the end of 2017, Skytanking was represented at 71 airports around the world and recorded a total throughput of 18.1 million cbm of jet fuel.

Moving forward, M&B stated its intent to strive for further international growth in the future.

“The focus is on expanding the core activities of trading, tank storage logistics and aviation fuelling.

“The strong operating base and solid financial position provide a good starting point for future projects and plans.”

Photo credit: Marquard & Bahls
Published: 1 June, 2018


Related News

Featured News

Our Industry Partners

PR Newswire