World News
ZeroNorth Reaches Profitability for First Time in December
Maritime technology firm ZeroNorth has recorded a net profit for the first time.
The company achieved its first month of positive EBITDA in December, it said in a statement on its website on Thursday.
The firm expects annual recurring revenue of just under $40 million for 2024 as a whole, up by 38% on the year, and expects positive EBITDA for 2025 as a whole.
ZeroNorth saw a net loss of $36.8 million in 2023 and $32.8 million in 2022.
The company acquired the bunker procurement platforms ClearLynx in January 2022 and Prosmar Bunkering in November 2022, as well as buying Singapore-based bunker software firm BTS in February 2023.
"Achieving operating profit is an important milestone for ZeroNorth and a reflection of the dedication of our team and the trust of our customers," Søren Meyer, CEO of ZeroNorth, said in the statement.
"Reaching this point highlights our ability to build a sustainable business model while scaling rapidly.
"More importantly, it reflects the critical role of data and technology as the shipping industry tackles the complexities of the energy transition.
"With this foundation, we are strongly positioned to accelerate our growth, and continue to enable our customers to make informed decisions, boost efficiency and cut emissions."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 593.00 | 1.00 | 715.50 | 0.50 |
| Rotterdam | 551.00 | 1.00 | 677.00 | 11.00 |
| Houston | 573.50 | 1.50 | 732.50 | 1.50 |
| Fujairah | 580.50 | 0.50 | 770.50 | 0.50 |
| Global 20 Ports Average | 611.00 | 2.00 | 780.50 | 7.00 |
| Global 4 Ports Average | 574.50 | 0.00 | 723.50 | 3.00 |
| Global Average Bunker Price | 651.00 | 2.50 | 831.50 | 4.50 |
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