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."



Graphic promoting Singapore Shipping Association marine green fuels training course. Singapore Shipping Association launches marine green fuels training course  

One-day programme covers supply chains, emissions accounting and infrastructure for biofuels, methanol, ammonia and hydrogen.

The Hua Hong 68 at the terminal of Sinochem Xingzhong Oil Staging, Zhoushan. China launches first domestic biofuel blending pilot at Zhoushan port  

Sinochem Xingzhong begins processing 2,000 tonnes of biodiesel with high-sulphur fuel oil.

'AeroLNG' ship with WindWings installation. Bureau Veritas approves BAR Technologies’ WindWings power calculation method for tanker installations  

Classification society validates computational approach for quantifying wind-assisted propulsion under IMO frameworks.

The bunkering tanker Avenir Accolade. Stolt-Nielsen sells 50% stake in Avenir LNG to NYK Line  

The two shipping groups will jointly own the LNG bunkering business.

David Ortiz, trading manager at Sonan Energy Panama. Sonan Energy Panama appoints David Ortiz as trading manager  

Former US Marine brings nearly a decade of bunker trading experience to Panama role.

The M/T Jutlandia Swan, operated by Uni-Tankers. Project CLEANSHIP begins collecting operational data from wingsail-equipped tanker  

M/T Jutlandia Swan serves as floating laboratory to measure wind-assisted propulsion performance.

Bernhard Schulte Shipmanagement's (BSM) second methanol dual-fuel bulk carrier. BSM adds second methanol dual-fuel bulk carrier to managed fleet  

Ship manager now operates two methanol-capable vessels as alternative fuel adoption continues in the bulk sector.

Petrobras logo. Petrobras suspends MGO export sales following Brazilian government’s 50% export tax  

State oil company halts distillate fuel exports while assessing impact of new levy.

The LNG bunkering vessel Alisios LNG. Scale Green Energy launches 12,500-cbm LNG bunkering vessel in Spain  

Alisios LNG will supply marine fuel from the Huelva plant, chartered by Axpo Iberia.

The pure car and truck carrier Tourmaline Ace. Piraeus port signs LNG-fuelled car carrier deal with MOL  

Mitsui O.S.K. Lines' LNG-powered vessel made inaugural call at Greek port on 10 March.