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."



Seaspan Lions (STS) LNG bunkering operation. Low-GHG methane could keep LNG-capable fleet compliant as regulations tighten, DNV paper argues  

Biomethane and e-methane offer a compliance pathway for LNG-capable ships, says DNV.

HaiSea Kermode and Valencia Knutsen vessel at sea. HaiSea's fleet of electric and dual-fuel tugboats completes 100th LNG carrier escort into Kitimat  

The Haisla Nation and Seaspan joint venture marks one year of LNG carrier escort operations in British Columbia.

Mount Vision naming ceremony. Naming ceremony held for LNG dual-fuel VLCC Mount Vision  

Crude oil tanker named in ceremony held in China.

Green Pearl and Cielo Ace ship-to-ship (STS) bio-LNG bunkering operation. MOL signs bio-LNG supply deals for car carriers across Northern Europe and Mediterranean  

Japanese shipping group expands bio-LNG bunkering to Spanish ports as part of its net-zero strategy.

Dan-Bunkering logo. Dan-Bunkering launches two-year trainee programme for aspiring marine fuel traders  

Bunker firm is recruiting trainees for an August 2026 start across its European offices.

Tower Bridge, London. Chevron hiring London-based marine fuels marketer with renewable fuels remit  

Applications open until 30 June for role involving the marketing of physical bunker fuels with a focus on Europe.

Burando Energies logo. Burando Energies seeks operator to support Rotterdam bunkering activities  

New hire will be responsible for planning, coordinating and monitoring operational activities across the firm's bunkering business.

Tommy Slette, Bart Vos and Koen Boerdijk. Corvus Energy to supply battery systems for two new Scylla Shipping river cruise vessels  

Norwegian battery supplier extends its partnership with Swiss river cruise operator Scylla Shipping.

Lucent Pathfinder vessel. NYK signs time-charter deal for two dual-fuel LPG-powered VLGCs  

Singapore subsidiary will provide gas carriers to carry Louisiana-produced ammonia to Japan.

Panos Mitrou and Yoshikazu Kondo. MOL wins LR technology award for wind-assisted propulsion on LNG carriers  

Lloyd’s Register honours Mitsui O.S.K. Lines for its Wind Challenger decarbonisation work.