Glander International Bunkering Announces Satisfactory Annual Results Despite Industry Disruptions
· Solid result during pandemic year
· Increase in market share & volume despite slowdown in global demand
Glander International Bunkering announced its annual results for the fiscal year 2020/2021, ending April 31, 2021. With the bunker fuel market in flux amid the pandemic, the company has managed to maintain profitability and enhance its market share.
Earnings in 2020/2021 before tax was reported at USD 18.5 million. Volume has increased by 18.7% year on year.
CEO Carsten Ladekjær says, “Although we didn’t match last year’s exceptional results, this year proved our company’s agility despite global lockdowns, significant price drops and lower sales in the industry as a whole. Amid this crisis, we worked shoulder to shoulder with our valued business partners and we moved closer with them during the hard times.”
While managing the impacts of a global pandemic, Glander International Bunkering was simultaneously investing in new markets, green fuels and a better workplace.
Ladekjær continues, “Most people will associate this past year with the pandemic but we will remember it for our achievements. We intensified our partnership with EcoUrea in Norway to provide a greener shipping solution, we opened a new office in Montreal and we received two awards as a top workplace in the Middle East and a top workplace for women.”
Celebrating its 60th anniversary this year, Glander International Bunkering looks forward to the gradual revival of the industry globally. Ladekjær adds, “We have and always will be there for our clients and suppliers, maintaining business continuity no matter what. We aim to maintain this momentum for our 60th year onwards to a post-pandemic and stronger future.”