OW Bunker, a ship fuel trader and supplier, has posted a year-on-year pre-tax profit increase of 65 per cent to US$31.6 million from $19.1 million in the first half of 2008.
A unit of Denmark's Wrist Group, OW Bunker said revenue for the first six months of this year grew 67 per cent to $4.2 billion, up from $2.5 billion in the first half of 2007.
"This record growth is testament to OW Bunker's financial strength, which has enabled us to generate increased credit lines and facilitate our global expansion plans," said OW Bunker CEO Jim Pedersen.
In the course of the year, the company opened new offices in Dubai, Chile and South Korea and spent $100 million on 12 new ships.
"Our focus will remain on continuing to invest in further expansion and development," Mr Pedersen said.
A unit of Denmark's Wrist Group, OW Bunker said revenue for the first six months of this year grew 67 per cent to $4.2 billion, up from $2.5 billion in the first half of 2007.
"This record growth is testament to OW Bunker's financial strength, which has enabled us to generate increased credit lines and facilitate our global expansion plans," said OW Bunker CEO Jim Pedersen.
In the course of the year, the company opened new offices in Dubai, Chile and South Korea and spent $100 million on 12 new ships.
"Our focus will remain on continuing to invest in further expansion and development," Mr Pedersen said.