BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry



« News Home
:: Monthly Archive

News Topics
:: Air Pollution
:: Agreements & M&A's
:: Alternative Fuels
:: BunkerBlog
:: Cargoes & Storage
:: Company News
:: Efficiency, Costs & Charges
:: Environment
:: Events
:: Financial
:: Fuel Quality & Testing
:: Lubes & Additives
:: Oil Spills
:: People
:: Port News
:: Projects
:: Regulation, Legal
:: Services, Products,Technology
:: Statistics & Research
:: Vessels

Regional Archive
:: Americas
:: Asia/Oceania
:: Europe
:: M.East/Africa


BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
Home » News





'Rough seas like never before': Bunker Holding, Selfinvest record sharp fall in earnings

03 Jul 2017 16:06 GMT

Danish bunker group sees profit slashed despite rise in turnover.



Danish group Selfinvest ApS, owner of United Shipping & Trading Company (USTC) Group and Bunker Holding Group, has recorded a sharp decline in earnings for 2016-17 despite managing to achieve a jump in revenue.

Selfinvest's profit before tax for the last financial year, which runs between May 1 and April 30, dropped 45 percent to DKK 264 million (approx. $40 million) from the previous year's figure of DKK 480 million. Profit after tax was slashed by DKK 204 million, or 50.4 percent, to DKK 201 million ($30.7 million).

Revenue for the 12-month period, meanwhile, was up around 15 percent to DKK 46 billion ($7 billion) from DKK 40.1 billion ($5.99 billion) in 2015-16.

Bunker Holding, which has a number of marine fuels and lubricants businesses under its umbrella - including Dan-Bunkering, Glander International Bunkering, Scandinavian Bunkering, BMS United Bunkers, LQM Petroleum Services, Unioil Supply, Unicore Fuel and Unimarine - achieved a 16 percent rise in revenue to DKK 44 billion ($6.7 billion), up from DKK 38 billion ($5.65 billion) the previous year.

However, pre-tax earnings for the group of bunker companies, which is widely considered to be the world's second-biggest seller of marine fuels after World Fuel Services, fell DKK 162 million ($25 million), or 41 percent, to DKK 236 million ($36 million).

As reported last month, USTC company Global Risk Management, which specializes in fuel risk management solutions, achieved its best ever earnings before tax figure of $12.03 million - surpassing the previous year's result of $6.85 million by 75 percent. Gross profit for the year rose by $4.67 million, or 29.7 percent, to $20.37 million.

Subsidiary Shipping.dk also performed well and delivered the best results in its history.

Commenting on the results, Selfinvest owner, Torben Ostergaard-Nielsen, said: "The industry is in rough seas like never before. Navigating through it requires a sharp focus as well as a constant search for the opportunities that are still in the market."

Results summary:

Selfinvest ApS

Profit before tax

2016-17: $40 million (DKK 264 million)

2015-16: $72 million (DKK 480 million)

2014-15: $82 million (DKK 548 million)

2013-14: $52 million (DKK 349 million)

Profit after tax

2016-17: $30.7 million (DKK 201 million)

2015-16: $60.5 million (DKK 405 million)

2014-15: $60.6 million (DKK 406 million)

2013-14: $43.3 million (DKK 290 million)

Revenue

2016-17: $7,030 million (DKK 46,000 million)

2015-16: $5,990 million (DKK 40,103 million)

2014-15: $7,765 million (DKK 51,985 million)

2013-14: $9,251 million (DKK 61,935 million)

Equity

2016-17: $581 million (DKK 3,800 million)

2015-16: $488 million (DKK 3,267 million)

2014-15: $440 million (DKK 2,943 million)

2013-14: $323 million (DKK 2,162 million)

Bunker Holding

Profit before tax

2016-17: $36 million (DKK 236 million)

2015-16: $61 milion (DKK 398 million)

2014-15: $78 million

2013-14: $63 million

2012-13: $60 million

2011-12: $77 million

Turnover

2016-17: $6,727 million (DKK 44,000 million)

2015-16: $5,652 million (DKK 38,000 million)

2014-15: $8,370 million

2013-14: $10,912 million

2012-13: $10,500 million

2011-12: $12,412 million






Related Links:

Global Risk Management posts record earnings in 2016-17
Dan-Bunkering names Jim Jensen as North America MD
Changes at the top: new CEOs at Dan-Bunkering, Glander and KPI Bridge Oil
Glander International Bunkering promotes another three traders

Latest News:

Ceremonies held for MSC Cruises ships with scrubbers
VLCC with '20%' bunker savings delivered to K Line
Vermont Bunkering and staff charged over fraudulent transactions in Singapore
Oil market seems to be struggling to find direction
Oil and fuel oil hedging market update
Aegean expects to launch 'at least one' new bunker supply service in H1 2018
Peninsula signs storage agreement in Houston with HOFTI
Another day in bearish territory?
Oil and fuel oil hedging market update
Aegean posts net loss and 23.2% drop in gross profit
Wartsila launches gas-fuelled version of world's most efficient four-stroke engine
Singapore updates restrictions on selling bunkers to North Korean ships




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
Cape Town
Fujairah
Houston
Istanbul
Kaohsiung
Las Palmas
Maracaibo
New Orleans
Piraeus
Rio
Rotterdam
Santos
Singapore
News
Latest News
Blogs
Archive
Americas
Asia
Europe
Middle East
News
Air Pollution
Agreements & M&A's
Alternative Fuels
Cargoes & Storage
Efficiency, Costs & Charges
Environment
Events
Financial
Fuel Quality
Lubes & Additives
Oil Spills
People
Port News
Projects
Regulation/Legal
Services, Products, Technology
Statistics & Research
Vessels
Contact & Terms
Contact Us
Advertise
Terms & Conditions
Privacy Policy
Events
Upcoming Events