Tue 9 Jul 2024, 12:14 GMT | Updated: Wed 10 Jul 2024, 14:22 GMT

Dan-Bunkering posts profit rise in 2023-24


EBT climbs to $46.8m, whilst revenue dips from previous year's all-time high.


Claus Bulch Klausen, CEO of Dan-Bunkering.
Claus Bulch Klausen, CEO, said he was "proud" of the group's performance, noting that "geopolitical tensions and shifting demands across shipping segments" were key issues in 2023-24. Image credit: Dan-Bunkering

Dan-Bunkering has posted a profit before tax of $46.8m for the 2023-24 fiscal year, up 1% from $46.3m in 2022-23.

Revenue over the same period fell by $289.9m, or 7.1%, from the firm's all-time high of $4.06bn to $3.77bn.

Dan-Bunkering began presenting its financial performance in a combined group format last year, with results dating back to 2018-19. Pre-tax profit for 2023-24 is the best over this six-year period, whilst revenue is the second highest.

Chart: Bunker Index. Data credit: Dan-Bunkering

Annual profit before tax with YoY changes for Dan-Bunkering, 2018/19 - 2023/24

Profit before tax in $m.

YearProfit before tax ($m) Change ($m)Change (%)
2018-1924.334
2019-2024.6270.2931.2
2020-2118.304-6.323-25.7
2021-2219.5861.2827.0
2022-2346.30826.722136.4
2023-2446.7900.4821.0

Table: Bunker Index. Data credit: Dan-Bunkering

Chart: Bunker Index. Data credit: Dan-Bunkering

Annual revenue with YoY changes for Dan-Bunkering, 2018/19 - 2023/24

Revenue in $m.

YearRevenue ($m) Change ($m)Change (%)
2018-192503.755
2019-202373.982-129.773-5.2
2020-212000.608-373.374-15.7
2021-223280.5631279.95564.0
2022-234059.604779.04123.7
2023-243769.732-289.872-7.1

Table: Bunker Index. Data credit: Dan-Bunkering

"This year's result Dan-Bunkering continues to build on strong financial performances of the past fiscal year," Dan-Bunkering said.

Claus Bulch Klausen, CEO of Dan-Bunkering, remarked: "In a year characterised by geopolitical tensions and shifting demands across shipping segments, we are immensely proud of the results we have achieved. They are a testament to the great work from the teams around the world in navigating these challenges.

"The past financial year saw an increased focus on the transition towards decarbonisation. We have put increased effort into assisting our clients and suppliers in adapting to the recently implemented environmental regulations, such as the EU ETS scheme, and demands within for instance the alternative fuels space. We are therefore investing time and resources to assist our partners with finding the best way forward."



Monjasa logo. Monjasa shuffles leadership across Asia and West Africa trading desks  

Morten Jacobsen steps down as managing director for Asia, with Simone Piredda relocating from Dubai to take the helm in Singapore

Tue Jensen, Burando Energies. Burando Energies appoints Tue Jensen as head of market risk  

Dutch marine fuels specialist bolsters its risk function amid international growth plans.

Anna Nash, Explora Journeys. Fincantieri floats out Explora V and marks coin ceremony for Explora VI  

Two ceremonies at Sestri Ponente shipyard advance construction of MSC's six-ship Explora Journeys fleet.

BP logo. BP advertises for senior physical bunker trader to oversee Europe and Africa marine business  

London-based trader is required to manage pricing, accounts and strategy across its marine fuels operation.

Ammonia fuel supply chain project signing. Seven Japanese firms join forces on ammonia-fuelled car carrier project  

NYK, K Line and five other companies plan to build four ammonia-fuelled car carriers alongside a dedicated bunkering vessel and supply chain.

EmissionLink logo. EmissionLink urges EU to channel ETS revenues into shipping carbon capture trials  

Maritime emissions specialist says regulation alone will not make onboard carbon capture commercially viable for shipowners.

Benny Hilstrom, WinGD. WinGD signs long-term service deals covering 14 LNG carriers with three shipowners  

Engine designer secures lifecycle support contracts with COSCO, NYK and TMS Cardiff Gas for dual-fuel LNG vessels.

KEYS Azalea vessel. KEYS Azalea completes 100th LNG bunkering operation in western Japan  

LNG bunkering vessel reaches landmark delivery in two and a half years.

STS bunkering operation at Port of Santos. Port of Santos moves to regular ethanol bunkering for ships  

CMA CGM, Copersucar and Bunker One expand July pilot into a commercial supply chain for ethanol as a marine fuel in Brazil.

Balearia's electric fast ferry. Baleària floats first fully electric fast ferry for Tarifa–Tangier route  

Spanish operator's new catamaran, built at Armón's Gijón yard, will enter service in summer 2027.