Sign up
Log in Sign up
This is a legacy page. Please click here to view the latest version.
Mon 12 Nov 2018, 13:35 GMT

Higher bunker prices help push up Hanwa's overseas revenue


Segment income jumped 210 percent in Q2.

Image credit: Unsplash
Japan's Hanwa reports that revenue generated by its overseas sales subsidiaries increased partly due to higher bunker prices during the firm's second financial quarter (Q2), which runs between July and September.

In Q2, Hanwa's international subsidiaries recorded a year-on-year (YoY) revenue increase of JPY 39.79bn ($350m), or 35.9 percent, to JPY 150.64bn ($1.3bn), whilst segment income climbed 210 percent from JPY 217m ($1.9m) to JPY 673m ($5.9m).

In addition to rising marine fuel prices, Hanwa also cited increased sales of metal scrap in Singapore and steel in Indonesia, as well as improved profitability for its US steel business, as other reasons for the YoY improvement.

Tokyo-headquartered Hanwa has a bunker trading office in Singapore and, according to its website, also has marine fuel traders based at its offices in Beijing, Ho Chi Minh City, London, Mumbai, New York, Seoul and Vladivostok.

Overall, Hanwa's total Q2 revenue grew YoY by JPY 179.8bn, or 21 percent, to JPY 1,056.9bn ($9.3bn). Gross profit was up JPY 4.3bn, or 13 percent, to JPY 37.9bn ($333m), whilst net income declined by JPY 2.4bn, or 28 percent, to JPY 6.3bn ($55.3m).

Japan 
Aerial view of container vessel at sea. Seaspan and Technolog unveil LNG feeder design with four-week ammonia conversion pathway  

Lloyd’s Register grants approval for a 3,370 TEU vessel concept designed for swift transition to zero-carbon fuel.
David Foo, MPA. Singapore’s MPA backs LNG as part of multi-fuel strategy for shipping decarbonisation  

Authority emphasises regulatory frameworks and workforce development as sector navigates geopolitical uncertainty and energy transition.
ABS and PIL sign MoU. ABS and PIL partner on book-and-claim emissions verification  

Classification society to verify fuel consumption and emissions data for shipping line’s alternative fuel claims.
Biofuel bunkering at Port of Açu. Vast completes first biofuel bunkering of tugboat at Brazil’s Port of Açu  

Be8’s BeVant biofuel claims up to 99% CO₂ reduction versus conventional marine diesel.
China’s Da Qing 268 vessel. Ningbo-Zhoushan Port completes first ship-to-ship green methanol bunkering  

Zhejiang province port facility delivered 503 tonnes of methanol to a container ship in one hour.
Ole Sloth Hansen and Arne Lohmann Rasmussen. KPI OceanConnect launches podcast series on bunker markets and geopolitical risk  

Marine fuel supplier debuts audio series examining commodity markets, trade route disruptions and Middle East tensions.
Auramarine biofuels webinar. Auramarine to host webinar on biofuels as a marine decarbonisation solution  

Finnish firm's May event will explore current biofuel options and integration strategies for vessels.
Thomas Bondesen, Christian Ramsdal and Jeanette Rathje, Malik Group. Malik adds bunker trader, technology head and canteen worker  

Danish marine fuels group expands team with three appointments across commercial, technical and operational functions.
Marine Money 2026 forum. AET outlines multi-fuel decarbonisation strategy at Marine Money 2026  

Tanker operator highlights innovative commercial arrangements with charterers to share decarbonisation risks and rewards.
Titan Optimus alongside Peony Leader vessel. Titan Clean Fuels completes first FuelEU Maritime pooling exercise with DNV verification  

Pool included several hundred vessels, with LNG and biomethane helping balance compliance deficits.

↑  Back to Top


 Recommended