Glander International Bunkering announces strongest result to date

June 22, 2023

Glander International Bunkering reports a record-breaking year, passing an EBT of USD 40.9 million across its nine offices worldwide despite market volatility and geopolitical turmoil. Going forward the company stands strong on its ambition to guide and facilitate worldwide supply of new fuel solutions.

Glander International Bunkering announced its annual results for the fiscal year 2022/23, ending April 30th, 2023. The company recorded an all-time high EBT of USD 40.9 million across its nine offices worldwide, reflecting an average growth in EBT above 40% for the last five consecutive years. Furthermore, the company reports a Return on Equity of 44% and a Solvency Ratio of 23% at 2022/23 fiscal year-end.

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.”

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