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 | 569.50 | 0.00 | 680.00 | 0.00 |
| Rotterdam | 515.00 | 1.00 | 674.00 | 2.00 |
| Houston | 550.00 | 2.50 | 678.00 | 6.50 |
| Fujairah | 560.50 | 0.50 | 753.50 | 2.50 |
| Global 20 Ports Average | 586.00 | 0.00 | 761.00 | 2.00 |
| Global 4 Ports Average | 549.00 | 1.00 | 696.50 | 2.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 800.50 | 2.00 |
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