United Shipping & Trading Company

United Shipping & Trading Company
Industry Petroleum
Founded 1876
Headquarters Middelfart, Denmark
Total equity 539 million kroner (2005)[1]

United Shipping & Trading Company is a global group of companies headquartered in Middelfart, Denmark. The largest company in the group is Bunker Holding A/S Group which is the parent company of 30 autonomous bunker fuel companies around the world. In 2011 it had a turn-over of DKK 68 billions.[2]

USTC is a global cluster of companies that has approximately 1500 employees, and holds a turnover of around US $6 million.[3]. USTC owns a considerable number of tankers, and is actively involved in the global supply of fuel in the shipping industry.

History

United Shipping & Trading Company (USTC) was founded as Julius Mortensen Shipping in Fredericia in 1876.[4] In 1974, the company acquired the local shipbroker H. Sommer in Middelfart. In 1978, the current owner of the company, Torben Østergaard-Nielsen, was appointed as new Managing Director of H. Sommer's Eftf. Shipping ApS and under his leadership the company diversified into bunker trading.[5]

In 1980, Østergaard-Nielsen embarked on a process which has led to the transfer of bunker activities to independent subsidiaries around the world, now the backbone of Bunker Holding A/S Group.

In 1995 USTC moved to its present head office at Strandvejen in Middelfart.[5]

Business units

  • Bunker Holding A/S Group – the largest company in the group with 30 independent bunker fuel subsidiaries around the world.
  • Uni-Tankers A/S – founded in 1989 and since 1995 operating in its current form.
  • SHIPPING.DK – the group's shipping unit. The current name is from 2005 but its roots go back to 1876.
  • Global Risk Management – founded in 2004.

Global Risk Management

Global Risk Management
Public
Industry Financial services
Founded 2004 (2004)
Middelfart, Denmark,
Headquarters Middelfart, Denmark,
Area served
 Worldwide
Key people
 Hans Erik Christensen
(CEO, Managing Director)
Number of employees
 20 - 50
Website global-riskmanagement.com

Global Risk Management (GRM) is a Danish company based in Middelfart, Denmark, that provides customised hedging solutions for price risk management on fuel.[6] Founded in Middelfart, a town on the Danish island of Funen, in 2004, it has branches in Copenhagen & Singapore.

The company's managing director is Hans Erik Christensen.[7][8]

Rooted in the financial services industry, GRM specialises in protecting its clients from fuel price volatility through a combination of fuel risk management strategies and hedging solutions. The company's main objective is to "help clients protect their margins from the risk posed by notoriously volatile fuel prices." GRM's primary client base includes the shipping and aviation industry, along with oil suppliers and those in industrial production.

See also

References

  1. ↑ (in Danish) (7 July 2006). "Middelfart Company Traded for 19 Billion Dollars." Fyens.Dk.
  2. ↑ "Top 20: Danmarks største virksomheder" (in Danish). TV2. Retrieved 2012-10-23.
  3. ↑ "TOP 20: DANMARKS STØRSTE VIRKSOMHEDER". Nyheder.tv2.dk.
  4. ↑ http://ustc.dk/USTC/History.aspx
  5. 1 2 "History". USTC. Retrieved 2012-10-23.
  6. ↑ "About Us". Global Risk Management. Global Risk Management.
  7. ↑ Vium, Nanna. "Middelfart-virksomhed rammer rekordresultat". fyens.dk. Retrieved 5 April 2017.
  8. ↑ Company Overview of A/S Global Risk Management Ltd. Bloomberg https://www.bloomberg.com/research/stocks/private/person.asp?personId=46421242&privcapId=47101018&previousCapId=47101018&previousTitle=A/S%20Global%20Risk%20Management%20Ltd. Missing or empty |title= (help)

Further reading

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