Middelfart, Denmark – June 24, 2025 – Bunker Holding, a global leader in marine fuel trading, today announced “satisfactory results” for the financial year 2024/2025, a period marked by intensified competition, oil prices reaching a four-year low, and limited market volatility. Despite these headwinds, and additional write-downs from discontinued operations, the company maintained strong volumes and delivered a profit before tax from continuing operations of USD 46 million.
The Middelfart-headquartered company demonstrated stable performance across its continuing operations, attributed to a robust diversified commercial setup and operating model.
“In many ways, it has been a very demanding year. The market conditions and competition have been tough, and we have seen margins under pressure across the board,” stated Keld R. Demant, CEO of Bunker Holding. “Therefore, I am pleased that we have managed to pull through what has been a trying year while maintaining our volumes and our strong customer relations.“
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Strategic Adjustments and Green Investments
The financial year also saw Bunker Holding conducting additional write-downs totaling USD 36 million on assets from discontinued cargo activities in Africa, a difficult but necessary decision initiated in the previous financial year.
In response to the evolving market, Bunker Holding relaunched and accelerated its strategy in late 2024 under the banner ‘Fit for Future.’ This strategic framework involved significant restructuring of the company’s operations and commercial organization, designed to better position Bunker Holding for an increasingly complex global maritime landscape.
“With the acceleration of our strategy, we have taken important steps to position the company for growth and to build a world-class organisation to help us prepare for the future and create value today,” Demant added.
He expressed strong confidence in the strategic direction, highlighting the high level of employee engagement during this transformation.
Leading the Green Transition with Expanded Biofuel Network
Further solidifying its commitment to the maritime industry’s decarbonization, Bunker Holding continued significant investments in supporting the transition to lower emissions. Over the past year, the Group strengthened crucial partnerships with producers of new fuels and substantially expanded its biofuel footprint. This strategic push has resulted in the development of the industry’s largest biofuel supply network, now encompassing more than 150 ports worldwide.
Outlook for 2025/2026: Strategic Focus Amidst Evolving Global Dynamics
For the financial year 2025/2026, Bunker Holding anticipates a continuation of fierce market competition and widespread macroeconomic uncertainties, potentially influenced by geopolitical shifts and evolving trade patterns. The company’s strategic focus will remain on delivering consistent, stable results by leveraging its diversified commercial setup and robust operating model.
Crucially, Bunker Holding is committed to proactively addressing the maritime industry’s accelerated decarbonization efforts. This includes further adaptation to stringent environmental regulations, such as FuelEU Maritime and IMO GHG targets, and catering to the growing customer demand for a wider portfolio of lower-emission and alternative marine fuels.
“I am confident that the operations we continue to invest in remain strong, and that we are heading into the future with purpose and a clear direction of where value can be created, particularly as we champion and facilitate the industry’s green transition,” commented Keld R. Demant.
About Bunker Holding Group
Bunker Holding is part of the family-owned USTC Group and is a global leader in the purchasing, selling, and supplying of marine fuel and lube oil, as well as providing risk management and other vital services for the shipping industry. The company operates via more than 1,613 ports worldwide and is present in 32 countries with 62 offices and over 1,300 skilled employees.
Bunker Holding has a long history but remains forward-looking and focused on answering the needs and challenges of an ever-changing industry. The Group is advancing and expanding its efforts in the green transition with an ambition to facilitate the decarbonization of the shipping industry.
Source Bunker Holding Group