Glander 2024/25 Pre-Tax Profits Hold Steady from Previous Year

by Ship & Bunker News Team
Thursday July 10, 2025

Marine fuels supplier Glander International Bunkering has reported pre-tax profits of $22 million for the 2024-25 fiscal year ending April 30, almost similar to the previous year's $22.17 million.

The company reported a turnover of $3 billion for the FY 2024-2025, it said in a statement on its website on Thursday.

"These results demonstrate consistent performance compared to the previous fiscal year, as the company continues to focus on conventional fuels, new fuels, risk management and extensive global reach," David Varghese, CFO of Glander, said. 

The firm says the bunker market faced several headwinds over the year, including Red Sea disruptions, US-China trade tensions, and the full-year impact of the EU Emissions Trading System (EU ETS).

Compliance with IMO's CII measures and rising demand for low-carbon marine fuels also shaped market dynamics.

The company reported a 71% increase in biofuel volumes and an 85% rise in LNG sales year-on-year.

It also sold nearly 100,000 EU Allowances and launched a FuelEU Maritime compliance tool.

"This fiscal year, we focused on staying close to our clients, while adapting to a fast-changing market," Carsten Ladekjær, CEO of Glander, said. 

"In a time of uncertainty and transformation, we focused on staying agile, supporting customers with conventional fuels, and laying the groundwork for new fuel solutions."

Ship & Bunker News Team
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