Kuala Lumpur, Malaysia, Sept. 29, 2025 (GLOBE NEWSWIRE) — TMD Energy Limited (NYSE: TMDE) (“we” or the “Company” or “TMDEL”), together with its subsidiaries (the “Group” or “TMDEL Group”) is a Malaysia and Singapore based service provider engaged in integrated bunkering services segment which involves ship-to-ship transfer of marine fuels, ship management services and vessel chartering services, today reported its financial results for the six months transition period from January 1, 2025 to June 30, 2025 (“6M2025”) and filed the transition financial report on Form 20-F for 6M2025 with the United States Securities and Exchange Commission (the “SEC”). The board of directors of the Company approved a change in the Company’s fiscal year end from December 31 to June 30 with effect from May 16, 2025, to align with the fiscal year end of its holding company, Straits Energy Resources Berhad. As a result, the Company is required to file a transition report on Form 20-F for 6M2025 with the SEC.
Key Financial Highlights for 6M2025
- Group revenue was $276.3 million for the 6M2025, down 22.7% as bunkering volumes fell 11.2% compared to six months ended June 30, 2024 (“6M2024“) as the global economy and shipping industry faces significant challenges arising from the tariff crisis and its uncertainties.
- Gross profit was $4.0 million, with gross profit margin at 1.4% for 6M2025, compared to 1.6% in 6M2024.
- Net loss was $4.5 million for the 6M2025, compared to net income of $1.1 million during 6M2024.
Financial Performance Overview
The Company reported an overall revenue of $276.3 million for the 6M2025, a decrease of 22.7%, or $81.2 million from $357.5 million during 6M2024 due to decrease in sales from the bunkering service segment as it contributed more than 99% of TMDEL’s revenue for the 6M2025, which was offset by a slight increase in ship management services. The volume of oil cargo bunkered decreased by approximately 11.2%, from 578,614 metric ton for the 6M2024 to 514,025 metric ton for the 6M2025 mainly as a result of the tariff crisis in early 2025, which was marked by broad new tariffs and frequent changes in implementation timelines and tariff rates, extreme disrupting global shipping schedules and cargo flows. These disruptions, together with weaker global consumption and softer economic growth, reduced overall demand for marine fuel and …