Glander International Bunkering has reported pre-tax earnings of $23.4m for the financial year ended 30 April 2026, with turnover of nearly $2bn, as the company navigated what it describes as one of the most disruptive periods in recent shipping history.

The results were released on 14 July against a backdrop of geopolitical tensions, disrupted trade routes and tight fuel availability — conditions the company says have fundamentally altered its role in the bunker market.

Conflict in the Middle East led to severe restrictions in the Strait of Hormuz during the period, forcing widespread rerouting of vessels, longer voyage times and increased freight costs. Combined with Red Sea risks and the imposition of US tariffs, market conditions shifted considerably over the course of the year.

CEO Carsten Ladekjær noted: "The real challenge was managing uncertainty, especially when things are changing by the day, sometimes by the hour. What has stood out is how our teams across the world have responded, how they have stayed close to clients and navigated that disruption in real time."

New fuels volumes double

According to the bunker firm, new fuels volumes doubled over the past year, driven by growing client demand for compliance-linked solutions as the FuelEU Maritime regulation entered its first full compliance cycle, making it a direct factor in voyage economics. Regulatory uncertainty nevertheless persisted, with key decisions at the Marine Environment Protection Committee (MEPC) in October 2025 reportedly delayed.

Dionysis Diamantopoulos, appointed head of new fuels in February 2026, stated: "We are supporting clients through a wide and evolving portfolio that includes biofuels and biofuel blends, LNG and bio-LNG, pooling and insetting solutions."

He added: "This approach has allowed us to increase our visibility in the market and contributed to doubling our new fuels volumes over the past year."

Well-to-wake model

Glander International Bunkering says it has continued to develop what it calls a well-to-wake bunker management model — an approach it describes as more integrated, covering fuel supply, emissions, price and risk management across the full fuel lifecycle.

Ladekjær stated: "It has undeniably been a volatile year for global shipping, and it has changed our role in bunker trading. Our clients not only come to us for fuel supply, they come to us to manage cost, compliance and risk."

The company says this reflects a broader market shift, in which bunker decisions are increasingly tied to cost exposure, compliance obligations and operational performance rather than being treated as standalone transactions.

Looking ahead, Glander International Bunkering says its strategy includes expanding well-to-wake management across alternative fuels, supporting data-driven and risk-managed bunker operations, and strengthening its expertise in emissions compliance and carbon markets.

Ladekjær added: "As the world becomes more complex, one thing is clear: shipping matters more than ever. We are proud to play our part in keeping that system moving."