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Dan-Bunkering boosts earnings before tax by 28 percent

Dan-Bunkering, which is part of Torben Østergaard-Nielsen's USTC group, increased its earnings before tax by 28 percent for the latest fiscal year. The bunker company saw a significant rise in volumes, particularly in the Asian market, despite a drop in global demand.

Dan-Bunkering's new CEO, Claus Bulch Klausen | Photo: Claus Bulch Klausen Dan-Bunkering CEO

Dan-Bunkering exits the fiscal year 2020/21 with an improved result and higher volume than the year before, according to a profit statement from the bunker company, which is part of Torben Østergaard-Nielsen's USTC group that also includes Bunker Holding and KPI Oceanconnect.

The company's earnings before tax amounted to USD 19.5 million, representing an increase of 28 percent from the fiscal year 2019/20. At the same time, Dan-Bunkering notes that volume rose by 7.2 percent year-over-year.

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