TMD Energy reports 2024 net income $1.9M vs. $2.0M last year
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 14 2025
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Revenue Growth: The company reported a revenue increase to $688.6 million in FY2024, an 8.8% rise from the previous year, while net income remained stable at approximately $1.9 million.
Future Focus: The company plans to maintain growth by optimizing operational efficiencies, targeting new customer opportunities in the bunkering sector, and leveraging competitive pricing strategies.
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Analyst Views on TMDE
About TMDE
TMD Energy Limited is a holding company. The Company provides marine fuel bunkering services in the supply and marketing of marine gas oil and marine fuel oil, which include high sulfur fuel oil, low sulfur fuel oil and very low sulfur fuel oil, to ships and vessels at sea. It is also involved in the provision of ship management services for in-house and external vessels, as well as vessel chartering services. It operates over 15 well-maintained bunkering vessels and operates in 19 ports in Malaysia, including Lumut Port, Penang Port, Malacca Port, and others. Its range of bunkering services caters to various types of seafaring vessels, including container vessels, oil tankers, cruise ships, and accommodation work barges such as floating production storage and offloading units and floating storage and offloading units, supply and support vessels such as platform supply vessels and research vessels. Its offshore structures include semi-submersible rigs, jackup rigs and drillships.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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