USTG Group Reports a Successful Year

Press Release
Wednesday, July 04, 2012

Despite a year of crisis in the shipping market, Torben Østergaard-Nielsen, owners of the USTC Group, report record turnover & profits 2011/2012

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.

Ship-owner Uni-Tankers is defying the crisis with a striking strategic expansion of its fleet: it is purchasing nine tankers, bringing the number of vessels it now operates to 35.

"The improvement in our revenue reflects optimised collaboration with customers and suppliers despite the difficult conditions facing the sector, hedged by particularly proactive credit control,” according to Keld R. Demant, Vice CEO of Bunker Holding.




 

 


 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Baltic Index Down as Rates for Large Vessels Stay Weak

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday on weaker rates for larger vessels and supramaxes.

Summer Cruise to North Sea Oil Rigs Amazes Tourists

Bored with palm-fringed beaches and turquoise seas? Then the gigantic oil platforms of the North Sea beckon. The first ever "rig-spotting" cruise just ended off the coast of Norway,

No Clues on Hanjin's Financial Health

Cash-strapped Hanjin Shipping Co. sources say that the negotiations with tonnage providers for lower rates are undergoing, but wouldn't say much else.   According to Korea Herald, the country's No.

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0688 sec (15 req/sec)