New Bunker Holding strategy to facilitate the future of global trade

The world’s largest supplier of fuel is launching an ambitious five-year strategy to secure a strong connection between the shipping industry and the producing parties whilst expanding the corporate consultancy function towards their customers.?

A steely ambition to create more value for the individual clients through customer specialization and digitization of the company. This is the foundation of Bunker Holding’s new strategy to lead the Group through the coming years of radical change in the industry including the transition to sustainable but as-yet unavailable fuels. The ambition is to continually facilitate world trade in an environmentally and socially responsible way.

"With our new strategy Bunker Holding intends to set the agenda for how we can continue to support world trade. The bunkering industry has so far been quite conservative and satisfied with playing a defensive rather than an offensive role. Since the transition to oil nearly a century ago, ships have been driven by the same fuels, and there’s been little desire to be visionary or innovative. We’re changing that now," says Keld R. Demant.

In the coming years the Group will adopt an even more prominent advisory role within new fuel types and logistics and intends to share their insight and expertise with its clients. This means a clear focus on preparing the coming transition with new departments, new hires and new products. In the beginning of the year Bunker Holding hired a Head of Sustainable Operations, and the employees in this department are intended to be trusted advisors.

"Even though Bunker Holding has grown to be the largest supplier of fuel in the world, we have kept the core characteristics that have marked the company ever since founder, Torben ?stergaard, reinvented bunkering around four decades ago: ‘Business acumen’, ‘leadership’ and ‘decency’ – and this new strategy is a clear example of exactly that," says CEO Keld R. Demant.

Convincing Annual Report underway

The new strategy has been underway since December of 2020 as a reaction to how the business in these years has gone through significant changes within especially value chain structure, the market actors and new fuel types. Even though the annual result of 2021 is not yet publicized, Keld R. Demant is willing to lift the veil slightly:

"Financially, we’ve had one of the most convincing years in our company’s history. And if I’m completely honest, it’s not without a certain degree of pride that we can present a thoroughly prepared strategy built upon a solid report following a year that’s been affected by a strenuous trial."

The annual report from the Bunker Holding Group is expected to be publicized at the end of June.?

Megatrends is moving the business in these years

In connection with the new strategy, the company has identified a series of megatrends that will define the market in the coming years.??

Bunker Holding is already an important part of the international value chain driving the global trade. A clear tendency in the value chain is that small actors are pushed out – and that the larger operators expand their services to adopt a larger part of the margin. This means, among other things, that Bunker Holding in the future must implement a wider, holistic view of the business and the customers’ needs.?

The transition to green energy and a considerable reduction of CO2 is obviously another megatrend, in which the challenge is that no one knows exactly which drivers will be decisive in 10 years from now.

“Our ambition is to be among the foremost in the world in the transition to sustainable fuels, becoming a valued facilitator between the shipping industry and the producers of new energy products. That’s why we’re building the foundation necessary to adopt this role. We’re recruiting aggressively and building a center of expertise,” Keld R. Demant explains.?

A new ESG strategy is under preparation and focusing on ESG in the future will be an integrated part of the company functions.

"Our size gives us the opportunity to affect the development in a positive direction. The current pressure from the value chain – from consumers, customers and banks – puts us in a key position as advisors," Keld R. Demant concludes.?

The Group’s ability to create a new strategy built on a vision of the future is owed to Bunker Holding’s – with the backing of the USTC conglomerate – freedom to focus on the vision and on the investment plans designed to secure long term success.

For additional information or interview requests please contact

Mikkel Wenzel Andreasen

Communications Officer, Group Communications

[email protected]