Image credit: Glander International Bunkering.

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Glander International Bunkering (GIB) reports that earnings before tax fell $8.8m, or 32.2 percent, to $18.5m during the fiscal year 2020-21, ending April 30. This was despite sales volume rising by 18.7 percent compared to the previous period.

CEO Carsten Ladekjær commented: "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, GIB notes that it was simultaneously investing in new markets, green fuels and improvements in the workplace.

Ladekjær continued: "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."

As previously reported, GIB added Montreal-based Canden Marine Fuel Services to its global network during the pandemic, in June 2020.

The Canada office became GIB's second in North America and ninth worldwide. In addition to its head office in Dubai, GIB also has subsidiaries in Florida, Geneva, Mumbai, Oslo, Singapore, Tønsberg and Valencia.

Celebrating its 60th anniversary this year, GIB is now looking ahead towards the gradual revival of the industry globally. Ladekjær added: "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."