Uni-Fuels Holdings reported revenue of $263.9m for the year ended 31 December 2025, up 70% from $155.2m a year earlier, but recorded a net loss of $1.8m compared with net income of $0.2m in 2024.

The Singapore-headquartered marine fuel trader increased sales volumes by 112% to more than 535,000 tonnes during the year. Port coverage widened by 79% to 156 locations, while the number of ships supplied rose by 93% to 7,583, and total transactions climbed by 84% to 1,179.

Gross profit improved 47% to $4.7m from $3.2m, although margin slipped to 1.8% from 2.1%. Uni-Fuels noted that the decline reflected competitive conditions and its push to grow market share across existing and new markets.

The shift into loss was driven by higher operating costs. General and administrative expenses rose by $2.7m to $5.0m, mainly due to increased staffing costs, new office openings, and professional fees associated with its status as a listed business. Selling and marketing expenses increased to $1.3m from $0.7m.

Chief executive Koh Kuan Hua said: “2025 marked a year of strong growth for Uni-Fuels, with revenue increasing 70% year over year, driven by higher marine fuel volumes, an expanded global footprint, and a growing customer base. We continued to scale our operations, strengthen our international presence, and enhance our capabilities, alongside strengthening our ability to offer sustainable marine fuel solutions. Gross profit increased year over year, although gross profit margins were impacted due to competitive market conditions, market share expansion, and higher operating costs associated with our growth and transition as a listed company.”

Working capital increased to $10.1m from $3.7m, while the current ratio edged up to 1.35 from 1.30. Debt to equity was broadly unchanged at 2.76 against 2.73 in 2024.

During 2025, Uni-Fuels received ISCC EU and ISCC PLUS certification, supporting its ability to supply biofuels compliant with the EU Renewable Energy Directive. It also set up subsidiaries in Dubai, Shanghai and Limassol.

The group further diversified funding sources by raising $3m through ADDX and issuing two commercial paper series, both of which were fully repaid during the year.

Uni-Fuels also secured a three-year letter of award to supply marine fuels to an engineering, procurement, construction and installation contractor in the Asia-Pacific offshore oil and gas sector, effective from 1 January 2026.

For 2026, the business expects revenue in the range of $310m to $330m.

Koh said: “Looking ahead to 2026, we are committed to building on our growth momentum and enhancing profitability as we scale. We expect to benefit from our expanded global footprint and growing customer base, supported by continued expansion in trading activity while maintaining a disciplined focus on improving margins and operating leverage.”

Uni-Fuels is a Singapore-based marine fuel trader with offices in Singapore, Seoul, Dubai, Shanghai, Limassol and Bangkok.