World News
Shipergy Reports Tripling of Gross Profit in 2023/24 Financial Year
Marine fuel procurement and trading firm Shipergy saw its gross profits more than triple in the 2023/24 financial year.
The company saw gross profit of $1.56 million in 2023/24, up from $475,276 the previous year, it said in an emailed statement on Wednesday.
The rise reflected 'improved margins and operational efficiency across its global operations', the company said.
The firm sold roughly 350,000 mt of marine fuel across the year, CEO Daniel Rose told Ship & Bunker.
Revenues were $226.6 million, up by 119.6% on the year.
"Despite being a new company in a very competitive market, I am satisfied with the growth we've achieved over the past financial period," Rose said.
"The revenue increase and rise in gross profit demonstrate the effectiveness of our operational strategy, while our significant investments in software, people, and infrastructure are paving the way for continued success.
"With strong financial backing, we are well-positioned to build on this momentum and deliver even greater value to our clients and partners."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 607.00 | 2.50 | 691.50 | 3.50 |
| Rotterdam | 551.50 | 5.00 | 683.00 | 8.50 |
| Houston | 547.50 | 7.50 | 677.50 | 10.00 |
| Fujairah | 596.50 | 5.00 | 779.00 | 8.00 |
| Global 20 Ports Average | 612.50 | 9.50 | 761.50 | 6.00 |
| Global 4 Ports Average | 575.50 | 5.00 | 707.50 | 7.50 |
| Global Average Bunker Price | 654.50 | 6.00 | 831.00 | 5.50 |
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