Mon 22 Jun 2015, 09:12 GMT

Global Risk Management reports profit rise


Risk management specialist achieves increase in annual profit.



Global Risk Management, a company specializing in fuel risk management solutions, has announced that it achieved an annual profit before tax of US$6.2 million in the fiscal year from 1 May 2014 to 30 April 2015 compared to $5.3 million in the previous financial year.

In a statement, Global Risk Management said that the improved result was due to a "large inflow of new clients and increased activities by existing clients over the year".

"Even though the oil price races up and down, the stable growth continues at Global Risk Management," the company added.

As part of its expansion strategy, Global Risk Management has recently added further staff to its workforce and set up a trading unit that it says is "purely concentrating on optimising prices for the clients".

Hans Erik Christensen [pictured], managing director of Global Risk Management, remarked: "Oil is one of the most volatile commodities in the world and for many of our clients a fluctuation of even a few dollars can make it difficult for the clients to keep their budgets. We find customised solutions and help implement a strategy to eliminate fluctuations; this could be by securing the oil price from 10 percent to 100 percent of the oil price exposure."

Global Risk Management is part of A/S United Shipping & Trading Company (USTC) Ltd. group. Bunker firms A/S Dan-Bunkering and A/S Trumf Bunker also form part of the group in addition to Uni-Chartering A/S and Uni-Tankers A/S.

The company provides fuel risk management solutions to companies that are exposed to oil price fluctuations.

In addition to its head office in Middelfart, Global Risk Management has offices in Singapore and Copenhagen.

Image: Hans Erik Christensen, managing director of Global Risk Management.


Bjorn Hauschild, IBT Bunkering & Trading. IBT Bunkering & Trading appoints Sales Support Specialist  

Björn Hauschild joins from shipyard broker CombiTrade.

Haiyang Shiyou 301 ship-to-ship (STS) LNG bunkering operation. CLPe and CNOOC complete Hong Kong's first LNG bunkering of a pure car and truck carrier  

Ship-to-ship operation delivered around 2,600 cbm of LNG to dual-fuel vessel AICC Fenghuang.

Mercuria logo. Mercuria seeks senior sales and account manager for bunker delivery platform  

Role can be based either remotely or at one of its offices in London, Geneva, Athens or Las Palmas.

Molgas Energy logo. Molgas Energy Group appoints Riaan van Kralingen as head of clean fuels  

Van Kralingen will oversee the company's liquefied biomethane and EU allowance portfolios, succeeding Caspar Gooren.

GT Wings manufacturing facility. GT Wings launches compact AirWing S Jet Sail for smaller vessels  

Wind propulsion developer adds lightweight unit to AirWing range as first customer-ordered AirWing20 units near completion.

Cargo ship bow in dry dock. LR publishes retrofit guidance covering alternative fuels and energy-saving devices in one framework  

New Guidance Notes address LNG, methanol, ammonia, hydrogen, wind-assisted propulsion and air lubrication retrofits for existing ships.

Spirit of Toulouse fitted with rotor sails. LD Armateurs' Spirit of Toulouse fitted with six Norsepower rotor sails  

Six 35m rotor sails installed on the first of three methanol-capable ro-ro ships chartered by Airbus.

Steel-cutting ceremony for bunker vessel. Maritima holds steel-cutting ceremony for Cap Morgiou, first of two Petroineos bunker vessels  

Construction starts on bunker vessel able to carry conventional and low-carbon marine fuels, with delivery expected in early 2028.

MPA and SIBCON 2026 logos. Singapore launches series of measures at SIBCON 2026  

MPA announces LNG storage licences, digital bunkering grants and electric harbour craft incentives at 24th conference.

SIBCON 2026 pre-conference event. VPS outlines marine fuel standards and quality data at SIBCON 2026  

VPS's Rahul Choudhuri addresses Singapore's evolving fuel standards and the quality of conventional fuels and biofuels.