Uni-Tankers Reports Record Results
Danish family-owned company Uni-Tankers has achieved record financial results for the financial year 2022-23 which it attributes to being a “streamlined organisation ready to seize each opportunity.”
Earning after tax were USD 61.0 million, an increase of USD 66.1 million from last year’s result despite constrained availability, higher cost of charter tonnage and higher interest rates.
Uni-Tankers' fleet is one of the youngest in its core markets, comprising approximately 40 owned and chartered modern and flexible product and chemical tankers. The company has offices in Denmark, Turkey, France, and the US.
“The impressive result of this year is a tribute to our entire organisation and their outstanding performance. I am very proud to have such dedicated staff – both onshore and off – who all in their own way have shown their loyalty and commitment to Uni-Tankers,” says Per Ekmann, CEO of Uni-Tankers.
“Uni-Tankers has been on a tremendous journey these past years, growing our strategy, executing on strategic initiatives, and strengthening our organisation. This year, all the foundational work and preparation has aligned perfectly with an upturn market, and we are proud to be on a steady course for the future.”
The owners and Board of Directors of Uni-Tankers have backed the executive management both in executing on the turnaround strategy launched in 2018, which effectively streamlined operational processes and allowed the group the flexibility to scale according to market conditions, as well as the group’s new strategy, Stronger Together, launched at the beginning of this financial year.
The company says it has a perfect mix of owned and time-chartered vessels following divestments of two non-strategic vessels and the addition of one new stainless-steel vessel with delivery in May 2023.
The company now has 13 owned vessels that are fully compliant with IMO’s Energy Efficiency Existing Ship Index (EEXI), and the remaining three vessels will be compliant later this year. At the end of financial year 2022/23, Uni-Tankers completed a decarbonization deep-dive to prepare for the increasingly stringent demands to reduce greenhouse gas emissions and carbon intensity – and in the coming financial year the group will set targets and finalize a decarbonization roadmap following the MEPC 80 session later this year.
During the financial year, environmental, social, and governance (ESG) was an area of focus for Uni-Tankers, and the company has invested heavily in preparing for upcoming IMO and EU regulations. Fuel-saving technologies have been installed on 11 of 16 vessels resulting in fuel savings of 8-15% and B30 biofuel blend tests are being conducted in collaboration with sister company Bunker Holding.
The group has established a clear ESG governance structure with defined ownership across all initiatives and has worked intensely to prepare for upcoming regulations such as the EU emissions trading system (ETS) which comes into effect from 2024.
“For us, shipping is a matter of chemistry – the chemistry between people and the world we live in. As a result, remaining at the forefront of the ESG agenda and staying compliant with all legislations and guidelines are pivotal to us, as we firmly believe in a healthy and sustainable future for the shipping industry,” says Ekmann.