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."



Bjorn Hauschild, IBT Bunkering & Trading. IBT Bunkering & Trading appoints Sales Support Specialist  

Björn Hauschild joins from shipyard broker CombiTrade.

Haiyang Shiyou 301 ship-to-ship (STS) LNG bunkering operation. CLPe and CNOOC complete Hong Kong's first LNG bunkering of a pure car and truck carrier  

Ship-to-ship operation delivered around 2,600 cbm of LNG to dual-fuel vessel AICC Fenghuang.

Mercuria logo. Mercuria seeks senior sales and account manager for bunker delivery platform  

Role can be based either remotely or at one of its offices in London, Geneva, Athens or Las Palmas.

Molgas Energy logo. Molgas Energy Group appoints Riaan van Kralingen as head of clean fuels  

Van Kralingen will oversee the company's liquefied biomethane and EU allowance portfolios, succeeding Caspar Gooren.

GT Wings manufacturing facility. GT Wings launches compact AirWing S Jet Sail for smaller vessels  

Wind propulsion developer adds lightweight unit to AirWing range as first customer-ordered AirWing20 units near completion.

Cargo ship bow in dry dock. LR publishes retrofit guidance covering alternative fuels and energy-saving devices in one framework  

New Guidance Notes address LNG, methanol, ammonia, hydrogen, wind-assisted propulsion and air lubrication retrofits for existing ships.

Spirit of Toulouse fitted with rotor sails. LD Armateurs' Spirit of Toulouse fitted with six Norsepower rotor sails  

Six 35m rotor sails installed on the first of three methanol-capable ro-ro ships chartered by Airbus.

Steel-cutting ceremony for bunker vessel. Maritima holds steel-cutting ceremony for Cap Morgiou, first of two Petroineos bunker vessels  

Construction starts on bunker vessel able to carry conventional and low-carbon marine fuels, with delivery expected in early 2028.

MPA and SIBCON 2026 logos. Singapore launches series of measures at SIBCON 2026  

MPA announces LNG storage licences, digital bunkering grants and electric harbour craft incentives at 24th conference.

SIBCON 2026 pre-conference event. VPS outlines marine fuel standards and quality data at SIBCON 2026  

VPS's Rahul Choudhuri addresses Singapore's evolving fuel standards and the quality of conventional fuels and biofuels.