Bunker Holding on Tuesday (16 June) said it delivered a strong performance in the financial year 2025/2026 despite continued uncertainty across global markets. 

The year was shaped by geopolitical developments, evolving trade flows, periods of heightened market volatility, and strong competition.

These conditions were further amplified by developments in the Middle East, which added complexity across global energy markets and shipping routes. 

In response, Bunker Holding focused on getting closer to customers and understanding the different challenges faced across shipping segments. This enabled faster decision-making, greater agility under pressure, and allowed the Group to respond effectively while continuing to support customers reliably.

Against this backdrop, Bunker Holding delivered a gross profit of USD 424 million and a profit before tax of USD 73 million, exceeding the Group’s expectations for the year. Equity increased to USD 342 million.

Revenue amounted to USD 13.1 billion, a decrease of 4% compared to the previous year. The decline primarily reflected lower average oil prices during the financial year, despite periods of heightened market volatility and stronger pricing towards the end of the period.

“This year, we have taken important steps to strengthen Bunker Holding for the future. We have simplified parts of the organisation, brought teams closer together, and made the changes needed to make us more focused and efficient. Our markets remained challenging and unpredictable, but I am pleased with both the result we have delivered and the progress we have made,” said Peder Møller, CEO of Bunker Holding.        

Looking ahead to 2026/27, Bunker Holding anticipates intense market competition alongside continued investments in low- and zero-carbon fuel projects and partnerships.

Changes to the Board of Directors

Bunker Holding said the company is strengthening its Board of Directors with the appointment of several new members and a new Chairman of the Board.

Nina Østergaard, CEO and co-owner of USTC, will assume the role of Chairman of the Board, while Henrik Andersen, Group President and CEO of Vestas Wind Systems A/S, will join as Vice Chairman. Tina Revsbech, CEO of Maersk Tankers, and Kenneth Steengaard, Chairman of the Board of Global Risk Management, will join the Board as new members.

At the same time, current Chairman Klaus Nyborg and Board member Peter Frederiksen will step down from the Board.

Nina Østergaard, incoming Chairman of the Board, said: “I am excited to take on the role as Chairman of Bunker Holding at an important time in the company’s development. Bunker Holding has a strong market position, a clear strategic direction, and significant opportunities ahead. I am also pleased to welcome Henrik Andersen, Tina Revsbech, and Kenneth Steengaard to the Board. They each bring valuable experience and perspectives, and I am particularly pleased that we have attracted such strong international profiles as Henrik and Tina, whose leadership experience from Vestas and Maersk Tankers will further strengthen the Board and support the company’s continued development.”

The addition of Kenneth Steengaard moves Bunker Holding closer to its sister-company Global Risk Management and adds important insight into risk management.

Bunker Holding founder and co-owner Torben Østergaard-Nielsen thanked the departing Board members for their contributions to the company.

Photo credit: Bunker Holding
Published: 17 June, 2026

Uni-Fuels Holdings Limited (Uni-Fuels), a global provider of marine fuel solutions headquartered in Singapore, on Tuesday (26 May) announced its unaudited financial results for the first quarter ended March 31, 2026.

The company reported that marine fuel volumes increased 58% year-over-year to over 140,000 metric tonnes (mt) during the first quarter of 2026, reflecting increased commercial activities and customer engagements across key markets.

Revenue during that period increased 64% year-over-year to USD 83.2 million, supported primarily by higher marine fuel trading volumes and expanded commercial activities, while gross profit increased 85% year-over-year to USD 1.8 million.

Gross profit margin improved to 2.2% in the first quarter of 2026 from 1.9% in the same period last year.

Uni-Fuels posted a net loss of USD 376,087 for the quarter, compared to USD 83,513 in Q1 2025. 

Following a stronger-than-expected first quarter 2026 performance and improved visibility on commercial activities, the company is increasing its full-year 2026 revenue guidance to a range of USD 320 million to USD 340 million up from its prior guidance of USD 310 million to USD 330 million.

“We are encouraged by a promising start to 2026, which reflects the continued execution of our growth strategy,” said Mr. Koh Kuan Hua, Chief Executive Officer of Uni-Fuels. 

“During the quarter, we delivered year-over-year growth in revenue and marine fuel volumes, and improved gross margins. Operational performance remained strong, although quarterly results were impacted by a net loss primarily attributable to corporate communication expenses incurred during the period. 

“We remain focused on building on this momentum through disciplined execution of our growth initiatives, driving consistent performance, and improving returns on capital. Based on our strong first quarter performance and improving commercial visibility, we are pleased to raise our full year 2026 revenue outlook to USD 320 million – USD 340 million.”

Photo credit: Uni-Fuels
Published: 29 May, 2026

New York-listed global energy management company World Kinect Corporation (WKC) on Thursday (23 April) recorded a 18% on year increase in gross profit for the first quarter (Q1) of 2026.

The company posted gross profit of USD 271.2 million in Q1 2026, 17.7% higher than gross profit of USD 230.4 million seen during Q1 2025.

Revenue for its combined aviation, land and marine segments in Q1 2026 was USD 9.69 billion, a 2.5% decrease from revenue of USD 9.45 billion in Q1 2025.

Specifically, the marine segment generated gross profit of USD 66.4 million in Q1 2026, up by 86% on year from USD 35.7 million in Q1 2026.

This was primarily driven by significantly higher bunker fuel prices, elevated price volatility, and strong execution supported by disciplined risk management in a dynamic market environment.

In total, WKC sold 3.9 million metric tonnes (mt) of bunker fuel during Q1 2026, up by 4% from 3.7 million mt of marine fuels during the similar period of last year.

“This strong performance marks our third best quarter on record for marine. We entered the quarter expecting a low price, lower volatility environment,” Jose-Miguel Tejada, Executive VP & CFO, said in a recent earnings call as quoted by Seeking Alpha.

“However, in March, conditions shifted quickly with volatility increasing sharply and average bunker prices rising approximately 70% month-over-month. By leveraging our supplier relationships and strong balance sheet, the team did what they do best and executed extremely well, supporting our customers while capturing strong risk-adjusted returns in our core resale business and in our physical inventory locations.”

He said the company is expecting marine gross profit to be lower sequentially as pricing volatility moderate for the second quarter of the year, though gross profit should be meaningfully higher year-over-year.

Photo credit: World Kinect Corporation
Published: 27 April, 2026