LinkedIn
WebsiteIntroduction
UNI FUELS HOLDINGS LIMITED (NASDAQ: UFG) is a Singapore-based provider of marine fuel solutions. Since its founding in 2021, the company markets, resells, and brokers products, including very low sulfur fuel oil, high sulfur fuel oil, marine gas oils, and bio marine fuel, to a range of vessels worldwide. Shares trade on the Nasdaq Capital Market under the ticker UFG.
Corporate Structure and Experience
Headquartered in Singapore, UNI Fuels employs between 11 and 50 staff across multiple locations, including recently opened offices in Shanghai and Dubai. The team combines maritime fuel expertise with sales and logistics capabilities to service bulk carriers, tankers, offshore support vessels, container ships, cruise liners, tugs, barges, yachts, and dredgers. The company culture emphasizes core values including integrity, respect, diversity, and ambition.
Marine fuel by Lyle Wilkinson
Recent Developments and News
- January 15, 2025: Closed its underwritten initial public offering of 2.1 million Class A shares at $4.00 each, raising $8.4 million. Proceeds were designated for scaling reselling activities, strengthening the workforce, expanding geographically, and augmenting cash reserves.
- April 22, 2025: Announced 2024 financial results showing revenue of $155.19 million (an increase of 119.24% year-over-year) and net income of $171,597 (a decrease of 85.84%).
- July 21, 2025: Completed an oversubscribed commercial paper issuance of USD 3 million to enhance liquidity.
- August 4, 2025: Reported material weaknesses in internal controls and appointed Assentsure PAC as the new independent auditor, replacing Marcum Asia CPAs LLP.
Financial and Strategic Analysis
As of October 2, 2025, UFG closed at $2.32 per share, reflecting a 53.97% decline from the previous period. Trading volume was 500,185 shares. Key metrics include:
| Metric | Value |
|---|---|
| Market Capitalization | $246.68 million |
| 52-Week Range | $1.15 โ $11.00 |
| Price/Earnings (TTM) | 761.00 |
| Earnings per Share (TTM) | $0.01 |
| Revenue (TTM) | $155.19 million |
| Net Income (TTM) | $171,597 |
| Profit Margin | 0.11% |
| Total Cash (MRQ) | $4.32 million |
| Total Debt/Equity (MRQ) | 42.36% |
| Levered Free Cash Flow (TTM) | $1.81 million |
Growth in revenue was driven by expanded sales volumes and broader market coverage, but net income contracted amid thin margins and increased operating costs. The commercial paper issuance and IPO proceeds aim to support working capital and fund further expansion. The change in auditor indicates a focus on strengthening financial controls.
Market Position and Industry Context
UNI Fuels operates in the global marine fuel market, influenced by regulatory sulfur caps, bunker price volatility, and shipping fleet utilization. With a price-to-sales ratio of 1.57 and a price-to-book ratio of 54.06, the company trades at a premium to asset values but at a modest valuation relative to peers encountering similar margin pressures. Its customer base encompasses bulk, tanker, and specialty vessels in both in-port and offshore segments. Expansion into key hubs such as Shanghai and Dubai positions the company to potentially capture regional bunker flows.
tl;dr
As of October 2, 2025, UFG shares trade at $2.32, down 53.97% year-to-date, amid margin compression and internal control reforms. Since January 2025, the company has raised $11.4 million via IPO and commercial paper, which has enhanced liquidity and led to the appointment of a new auditor to address material weaknesses. Management plans to allocate capital for market share gains, workforce growth, and geographic expansion. Investors will monitor upcoming quarterly results and the impact of strengthened governance on financial reporting.
