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."



RSP and RST logo. Agreement signed to bring shore power to Rotterdam shortsea terminal by 2030  

Shore power partnership at Rotterdam’s RST terminal targets AFIR compliance and reduced ship emissions at berth by end of decade.

Equatorial logo. Equatorial Marine Fuel receives dual sustainability recognitions in 2026  

Singapore-based bunker firm earns the LowCarbonSG logo and an EcoVadis Bronze Medal.

Red Sea topographic map. Red Sea diversions and Mediterranean emissions rules set to squeeze bunker supply, warns Peninsula  

Bunker supplier Peninsula warns rerouted tankers face soaring fuel costs and regulatory penalties.

Hydrogen maritime workshop. Hydrogen maritime workshop held to push early regulatory alignment  

Classification society and French maritime authority explore pathways for hydrogen deployment at sea.

Launching ceremony of MSC Licia X vessel. Changhong International undocks seventh LNG dual-fuel container ship for MSC  

Vessel is part of a series fitted with ammonia-ready and methanol-ready provisions.

IBIA logo. IBIA urges further investigation into marine fuel concerns linked to shale oil components  

Industry body says evidence does not establish a direct link between shale oil and reported operational issues.

KUSPC grand opening. ABS grants AiP for LNG bunkering barge design  

Samsung Heavy Industries and Conrad Shipyard receive AiP for basic design under joint development.

Waalvliet vessel. ABB and Econowind combine wind propulsion with digital routing to cut ship emissions  

The partnership integrates wind-assisted propulsion with weather routing to reduce fuel consumption.

Peninsula logo. Peninsula seeks junior cargo trader for Dubai role  

Position centres on the procurement of marine fuels, blending components and associated products.

Island Oil Summer Students Programme. Island Oil opens operations to students in summer internship programme  

Cyprus-based firm gives students hands-on experience across its bunker business.