Bunker Holding News

The Silk Alliance continues to grow with the addition of Yara Clean Ammonia, the Methanol Institute, MPC Container Ships and the NUS Centre for Maritime Studies.The new partners join following the signing of a Memorandum of Understanding (MoU) between the Maritime and Port Authority of Singapore (MPA) and Lloyd’s Register (LR) Maritime Decarbonisation Hub for the Silk Alliance as they plan to support the proposed project aimed at the decarbonisation of a regional shipping corridor centred on the container trades.The Silk Alliance is focused on a regional fleet…

Yara Clean Ammonia (YCA) and Bunker Holding Group signed an MoU establishing the intention to collaborate to accelerate the development of the market for ammonia as a shipping fuel. This agreement connects two key elements of the supply chain needed to achieve the use of clean ammonia as a shipping fuel, namely a global supplier of clean ammonia and the largest bunker supplier today in terms of end users.This commitment will cover multiple global geographies and focus on serving first mover initiatives spanning different regions.Ammonia, a sustainable solution for maritime transport.

Danish family-owned company Uni-Tankers has achieved record financial results for the financial year 2022-23 which it attributes to being a “streamlined organisation ready to seize each opportunity.”Earning after tax were USD 61.0 million, an increase of USD 66.1 million from last year’s result despite constrained availability, higher cost of charter tonnage and higher interest rates.Uni-Tankers' fleet is one of the youngest in its core markets, comprising approximately 40 owned and chartered modern and flexible product and chemical tankers.

Marine fuel sellers have stopped serving vessels flying the Russian flag at major European hubs including Spain and Malta in another blow to Moscow's exports, five industry sources with knowledge of the matter told Reuters.Losing access to refueling points in the Mediterranean Sea poses major logistical problems for Russian oil tankers going from Baltic ports to Asia and also creates safety concerns over potentially being stuck at sea with flammable cargoes, shipping sources say.Russia…

Bunker trader and supplier Bunker Holding Group and renewable fuels producer and supplier Renewable Energy Group, Inc. are partnering to further develop the U.S. and EU marine markets for sustainable bio-based diesel.The collaboration agreement is initially focused on opportunities in North America and Europe, where trials of B20 and B30 are being run in high-traffic regions of both continents.For REG, this agreement continues its efforts to expand product offerings with further reach into the approximately 70 billion gallon…

Fuel supplier Bunker Holding, its chief executive and a subsidiary have decided not to appeal a conviction handed to them by a Danish city court for breaching European Union sanctions, the parties said on Wednesday."Bunker Holding, Keld R.

Fuel supplier Bunker Holding, its chief executive and its subsidiary were convicted by a Danish local court on Tuesday for breaching European Union sanctions by selling jet fuel to war-torn Syria, court documents showed.Bunker Holding, a fuel trader that is also one of the world's largest shipping fuel suppliers, had together with its CEO and subsidiary Dan-Bunkering been charged with breaking sanctions imposed by the European Union in 2011, at the onset of the Syrian civil war.A total of 172,000 tons of jet fuel worth around 647 million Danish crowns ($101 million) was sold in 33 trades betwe

USTC has acquired 60% of CM Biomass, the world’s largest independent wood pellet trading company, a move designed to consolidate USTC as a global force in shipping and trade. USTC, which has a long history within commodity trade, shipping, and logistics, has acquired the stake of CM Biomass, a company in theCopenhagen Merchants Group. The remaining 40% will be held by the existing owners, and the CM Biomass management team and the organization will remain unchanged with Simon Rodian Christensen as its CEO.

First financial steps have been made to cement the planned succession process of Torben Østergaard-Nielsen’s global shipping group United Shipping & Trading Company (USTC), based in Middelfart, Denmark.The next generation in the family-owned business, daughters Nina Østergaard Borris and Mia Østergaard Nielsen, have become co-owners via the parent company Selfinvest. In the future, they will take even greater part in the active ownership of the group.With more than 2,500 employees distributed on 101 offices in 33 countries worldwide…

Torben Østergaard-Nielsen’s global shipping group United Shipping & Trading Company (USTC) has welcomed Nina Østergaard Borris as new COO to its Executive Board.For the past six years, Nina Østergaard Borris has been Executive Assistant and Head of M&A in Bunker Holding, the USTC group’s largest business unit, focusing on business optimization, strategy and M&A.In parallel with her employment at Bunker Holding, Borris has served as a board member in the sister companies SDK (shipping and logistics company) and Uni-Tankers (shipowning company) as well as the parent company USTC.

Denmark-based marine fuel supplier Bunker One has announced the establishment of a new physical bunker entity, serving the German market.Bunker Holding subsidiary said that the business activities of the new entity Bunker One (Germany) GmbH will be concentrated on supplying marine fuel products and other related services to ferry- container- and other commercial vessels in all ports at the German North Sea and Baltic Sea regions with base in Rostock, Kiel and Hamburg.To benefit the customers and business partners in this geographical area Bunker One has established a team of very dedicated employees with many years of experience within the industry - located in office premises in Rostock and Hamburg.Carsten Klausen…

With profit before tax of DKK 480 million, Middelfart-based Selfinvest, which includes the global Group A/S United Shipping & Trading Company (USTC), is yet again filing an impressive set of financial statements. This was generated via record results in several of USTC’s subsidiaries, with the Group thus cementing its position of strength in the global market. CEO and sole owner Torben Østergaard-Nielsen says: “It is characteristic of the financial year just concluded that we are continuing to see the fruits of the investments and acquisitions we have undertaken as part of the USTC Group’s growth strategy. Within our three primary divisions…

Bunker Holding Group (Bunker Holding), a global leader in the purchase, sale and supply of marine fuel with 54 offices in 27 countries, announced today the acquisition of LQM Petroleum Services Inc. (LQM). LQM is one of the largest international marine fuel oil brokers who handles approximately 10 million mts per year across ~250 customers worldwide. The Company has a strong presence in the United States with offices in New Jersey, Connecticut and Texas; as well as offices in London, Paris and Singapore. Bunker Holding Group CEO, Keld R. Demant said: “The acquisition of LQM is a logical step in Bunker Holding’s growth strategy and brings together two family-owned businesses with similar values and a long history of working well together”. “LQM is an excellent fit.

The Bunker Holding Group has established a new subsidiary operating under the name Unioil Supply A/S. The physical setup, based in Aalborg, consists of professionals from the former OW Supply & Trading. The Danish-based Bunker Holding is the parent company of a group of companies specializing in the purchase, sale and supply of fuel and lube oil to ships as well as risk management and associated services. The group operates globally within the shipping business and is represented by 36 own companies worldwide, currently in 25 countries. As part of its strategy Bunker Holding has decided to enter the physical part of the bunker market.

Bunker Holding, the parent company of a group of bunker companies worldwide, has appointed Søren Høll as the company’s new Chief Operations Officer (COO). Søren will be situated at the company’s headquarters in Middelfart, Denmark, but will have frequent and extensive travel to the subsidiaries around the world. Søren Høll brings experience from the bunker business through his 28 year with Dan-Bunkering, a subsidiary of Bunker Holding. At Dan-Bunkering he held the position as Head of Operations Europe/Asia and Senior Vice President. bunker-holding.com

Bunker Holding is pleased to announce that as from 1 January 2013 Linda Goh has been appointed as Regional Credit Manager - Asia. Linda has more than 14 years of experience in credit management and analysis in the Asian and global markets, whereof 12 years with Chevron. As evident from her title, Linda will focus on Asia and Pacific areas, and she will handle credit  applications and questions from all companies in the Bunker Holding Group concerning clients in these areas, covering from UAE to Australia.

Experienced shipping and finance professionals in new board for USTC companies. One of the biggest and fastest expanding companies in Denmark, A/S United Shipping & Trading Co Ltd. headquartered in Middelfart, is strengthening its organization with a new board of directors who will also take up positions in its subsidiaries Bunker Holding A/S and Uni-Tankers A/S. The composition of the board aims to encompass the expertise required to enable the parent company and its two shipping related subsidiaries to further develop in a difficult market.

The Denmark-based group has achieved both record turnover and record profits. With equity in excess of DKK 1.8 billion,and say it is now strongly positioned for further growth. All three business areas – bunkering (buying, selling and provision of fuel for ships), ship-owning, and shipping and logistics – showed increased turnover. However, bunkering activities, which make up 99% of total turnover, accounted for the greatest growth in turnover and revenue. Bunker Holding turnover and profit almost doubled in two years Turnover in the bunkering activities of Bunker Holding increased by 33% exclusively from organic growth, while profit was up 29%. The rise in turnover came about via increased volume and a strong rise in oil prices.