USTC Says Bunker Holding Africa Losses Are Behind It After Strongest Result in Years

USTC, the parent company of marine fuels group Bunker Holding, has declared that the financial damage stemming from its African operations is now fully absorbed. USTC reported a profit before tax of more than DKK 1 billion for the 2025/26 financial year, up from DKK 775 million the year prior. The company described this as the fourth-best financial result in its 150-year history. The improved performance comes after a prolonged period of financial strain tied to the closure of PSTV Cargo, Bunker Holding’s onshore cargo trading unit in Africa. The shutdown triggered write-downs from discontinued operations of approximately $125 million in 2023/24, followed by a further $36 million in 2024/25. Despite the positive headline figures, USTC co-owner and CEO Nina Ostergaard tempered the optimism with a candid assessment of where the group stands, noting that volatile global trade and unpredictable geopolitical shifts have become structural features rather than temporary disruptions.