10% Volume Growth in 2020/21, Says Bunker Holding

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  • Marine fuels conglomerate Bunker Holding saw its sales volumes rise by 10% in the year to April 30.
    The number was revealed in the annual results of Selfinvest, the owner of Bunker Holding parent company USTC.
  • Selfinvest saw its pretax profits slide by 37.9% in 2020/21 from the record level seen the previous year.

A Ship and Bunker news source says that Bunkering Holding sees 10% volume growth in 2020/21.

Bunker Holding 

Bunker Holding has yet to publish its results for the last financial year, beyond a brief mention of ‘a declining bottom line’ in the Selfinvest release.

But the company typically takes up a large share of the Selfinvest result, and it is likely that its pre-tax profits have also tumbled from the record $155.2 million seen in 2019/20.

Several Bunker Holding brands have already revealed their performance over the past year.

KPI OceanConnect saw a 26.5% volumes gain from the combined figure for KPI Bridge Oil and OceanConnect Marine the previous year, Dan-Bunkering’s increased by 7.2% and Glander International Bunkering’s rose by 17.7%.

Trend of bunker demand

The increases highlight the trend of bunker demand consolidating among the biggest suppliers and traders during the COVID-19 pandemic and subsequent turbulent oil market.

Overall demand has been falling; volumes at 17 leading bunkering areas sank by 11.6% in the year to March 31 compared with the same period a year earlier, according to Ship & Bunker and BLUE Insight’s quarterly survey.

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Source: Ship and Bunker