USTC Acquires 60% Stake in CM Biomas
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.
The Next Generation Takes Ownership in USTC
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…
New COO Joins USTC’s Executive Board
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.
Ekmann Named CEO of Uni-Tankers
Tanker ship operator Uni-Tankers, part of the USTC group, has appointed Per Ekmann as its new CEO. “I’m both happy and proud to have the opportunity to lead the way forward at this important stage in the company’s history. Uni-Tankers is based on proud and strong values, and with the recent implemented changes, the foundation is in place to realise our strategy together with our skilled employees,” said Per Ekmann. In future, the Uni-Tankers Executive Board will comprise Per Ekmann, CEO, and Thomas Thomsen, CFO. “Per is a strong commercial force with a clear management style and a proven ability to execute. I’m convinced that he will be able to develop the company in accordance with the agreed plan…
USTC Delivers Near Record Profit
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…
Maersk Broker Agency Sold to Denmark Firm
Shipping.dk, part of USTC Group, has acquired Maersk Broker Agency. Maersk Broker Agency will be merged with Shipping.dk. The acquisition is part of the Denmark-based shipping and logistics company's plan to expand its position as a significant player in Scandinavian agency and stevedoring (loading and unloading) operations. "The acquisition strengthens and deepens our activities and platforms in Scandinavia and is also highly experienced and qualified staff on board," said Soren Gran Hansen, CEO of Shipping.dk in a press release. This acquisition by, is in-line with the company's plans of increased growth and specialisation in its core business. The company had, according to the latest accounts 143 employees.
New Managing Director at Shipping Holding A/S
Shipping Holding A/S, part of the USTC Group, has appointed Søren Gran Hansen, 44, to replace Lars Hoffmann in the managing director’s chair. Søren Gran Hansen comes from a position as Regional Director of DSV Road Holding A/S, where he has occupied various roles since 1989. Shipping Holding, which operates in Denmark and Scandinavia in the fields of stevedoring, chartering, shipping agency and road transport with its own warehouses and terminals in a number of Danish ports, has been struggling with declining results in recent years. However, the Group has managed to reverse this trend, and they see the appointment of Søren Gran Hansen as part of a further strengthening of their activities.
USTC Companies Announce New Board of Directors
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.
USTG Group Reports a Successful Year
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.
