World News
Glander International Bunkering 2023/24 Profits Drop From Previous Year's Record
Thursday July 4, 2024
Global hybrid marine fuels firm Glander International Bunkering saw a 45.8% drop in its pre-tax profits in the last financial year, sliding from the record level seen a year earlier.
The company saw pre-tax earnings of $22.17 million in the year to April 30, it said in an emailed statement on Thursday, down from a record high of $40.9 million a year earlier.
The 2022/23 financial year had been "marked by extreme volatility, price hikes and supply disruptions due to political turmoil compared to 2023/24, when shipping and bunkering experienced a notable return to normalization with energy prices dropping to stable levels," CEO Carsten Ladekjær said in the statement.
The firm had a 25% return on equity and 21% solvency ratio in 2023/24.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 642.50 | 4.50 | 771.50 | 9.50 |
| Rotterdam | 586.50 | 3.00 | 772.50 | 4.50 |
| Houston | 612.00 | 5.00 | 815.00 | 20.00 |
| Fujairah | 642.00 | 3.00 | 861.00 | 3.00 |
| Global 20 Ports Average | 648.50 | 0.50 | 855.50 | 2.00 |
| Global 4 Ports Average | 620.50 | 0.50 | 805.00 | 9.00 |
| Global Average Bunker Price | 693.50 | 1.50 | 912.00 | 1.50 |
Popular Now More
-
Jul 04Maaz Ahmed is stepping down from his role as MEA regional marine fuels manager at Oilmar. -
Jul 03The firm has opened a new office in Singapore and hired a regional manager and senior trader. -
Jul 04The company saw pre-tax earnings of $22.17 million in the year to April 30, down from $40.9 million a year earlier.