World News
Bunker Partner 2023 Profits Slump on Reduced Cargo Activity
Marine fuel trading firm and brokerage Bunker Partner saw a drop in its profits in 2023 on reduced cargo trading activity.
The company's profit dropped to EUR 7.334 million in 2023 from EUR 36.54 million the previous year, it said in its annual report.
Revenues dropped to EUR 410 million from EUR 1.069 billion in 2022. 40% of the company's sales were to EU countries, and 60% to non-EU countries.
"Our customer base remains stable and includes ship owners and operators, other traders and charter operators," the company said in the report.
"The main segments in 2023 are bulk carriers, general cargo ships and container ships.
"Bunker Partner Group's total revenue decreased by 61.62% to 410.367 million euros, the main reason for which is the termination of cargo transportation operations."
The firm had a total of 20 employees by the end of last year, up from 16in 2022.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 582.50 | 10.00 | 616.50 | 12.50 |
| Rotterdam | 503.00 | 4.00 | 609.50 | 7.00 |
| Houston | 498.00 | 8.50 | 643.50 | 9.00 |
| Fujairah | 579.00 | 10.00 | 773.00 | 2.00 |
| Global 20 Ports Average | 587.50 | 8.50 | 729.50 | 5.00 |
| Global 4 Ports Average | 540.50 | 8.00 | 660.50 | 7.50 |
| Global Average Bunker Price | 636.50 | 7.50 | 808.00 | 6.00 |
Popular Now More
-
Sep 12The new hire has worked in a range of roles for the company since August 2014. -
Sep 12The new head of trading has worked for the company since February 2018. -
Sep 11John Bassadone's new venture, Hercules Tanker Management, will operate as an independent ship owner active in chartering tonnage and commercial management.