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."



J-ENG 6UEC35LSGH hydrogen-fuelled engine unveiling. Japan Engine completes land-based testing of landmark hydrogen-fuelled engine for large vessels  

Hydrogen co-firing rate of at least 95% achieved during factory testing.

Aerial view of tanker vessel at sea. Ethanol edges into shipping’s fuel mix as methanol crossover eases adoption barriers  

Rising interest from cargo owners, shared technology with methanol and Brazilian production growth push ethanol beyond regional niche status.

AiP award ceremony for multi-purpose fuel tank and FGSS design. ABS grants Hanwha Ocean approval for dual-fuel tank enabling LNG-to-ammonia switch  

In-principle approval awarded for fuel tank and supply system enabling LNG carriers to convert to ammonia without replacement.

Lloyd's Register issues Factual Statement (FS) for PureMetrics CEMS. Lloyd's Register confirms suitability of Daphne Technology's emissions monitoring system  

Factual Statement validates the PureMetrics design for monitoring greenhouse gas emissions from marine engines.

IMO building with national flags. IMO issues shipboard biofuel blend checklist developed by IBIA  

Checklist for FAME-based biofuels formally incorporated into IMO document, supporting crews handling biofuel blends for the first time.

YM Weight naming ceremony. Yang Ming names fourth LNG dual-fuel container vessel YM Weight  

Newbuild features high-pressure dual-fuel main engines capable of running on either LNG or low-sulphur fuel oil.

Bureau Veritas grants AiP to SDARI. Bureau Veritas grants AiP to SDARI’s LNG dual-fuel liquefied CO₂ carrier design  

Classification society approves 85,000-cbm vessel concept designed to support the growing carbon capture and storage sector.

Houston skyline at night. JuWonOil looking to strengthen with two Houston hires  

Texas-based firm is recruiting a marine lubricants sales executive and a marine fuels and distillates trader.

Lloyd's Register (LR), Seapeak, Kongsberg Maritime and Tunable JDP launch. Four firms partner to trial continuous emissions monitoring on LNG carrier  

LR, Seapeak, Kongsberg Maritime and Tunable will test onboard CO₂ monitoring against engine data and default emissions factors.

Bunker Holding logo. Bunker Holding reshuffles commercial leadership across brand portfolio  

Appointments announced across KPI OceanConnect, Glander International Bunkering and its digital sales operations.