Glander International Bunkering has reported a record-breaking year, achieving earnings before taxes (EBT) of USD 40.9 million across its nine global offices, despite facing market volatility and geopolitical challenges. The company remains steadfast in its commitment to guiding and facilitating the worldwide supply of new fuel solutions.
For the fiscal year 2022/23, ending on April 30th, 2023, Glander International Bunkering disclosed its annual results, which revealed an unprecedented EBT of USD 40.9 million across its global offices. This achievement signifies an average EBT growth of over 40% for the past five consecutive years. Additionally, the company reported a remarkable Return on Equity of 44% and a Solvency Ratio of 23% at the end of the 2022/23 fiscal year.
During the first half of fiscal year 2022 (May 1 onwards), the bunker industry was navigating stormy waters. The industry went through a credit and liquidity squeeze as the Brent price temporarily surpassed USD 140 per barrel. Furthermore, traditional trade patterns and supply flows were disrupted by increased sanctions and political turmoil in Europe.
Carsten Ladekjær, CEO of Glander International Bunkering, explains, “We take immense pride in the achievements of the 2022/23 fiscal year. Despite industry challenges, our teams around the world have managed to play a key role in propelling global trade. Our role is connecting the dots and enabling safe, efficient bunker solutions so that our customers can concentrate on what they do best – namely, to keep goods moving worldwide.”
He believes that what the bunker industry experienced throughout 2022 in terms of high energy prices and volatility could signify the nature of future market conditions. Increased focus on the decarbonisation of shipping is likely to add further complexity, which calls for closer partnerships between stakeholders throughout the supply and value chains. Ladekjær continues:
“It is our ambition at Glander International Bunkering to be at the forefront of shipping’s decarbonization. We are committed to guiding our customers and facilitating worldwide supply of existing as well as new fuel products, when and where they are needed.”