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Denmark-based Global Risk Management has announced that it achieved a million dollar surplus as experts in fuel risk management solutions.

Global Risk Management is part of one of the largest companies in Denmark - United Shipping & Trading Company – and has today presented a sound annual report for 2011/12.

With more than double the amount of traded tonnes compared to last year and a rising interest in the management of price risk on fuel expenses, the company is experiencing a very positive development. Total surplus in 2011/12 exceeds USD 2.8 million.

Commenting on the results, Hans Erik Christensen [pictured], Managing Director of Global Risk Management, said: "At Global Risk Management we have worked hard for several years to expand the company and to perform financially. We have succeeded very well this year and apart from our financial result being very sound we will be hiring more employees in order to supply top-quality consultancy for the many new clients."

New employees at Global Risk Management will be working both at the head office in Middelfart, Denmark and the branch office in Singapore. Furthermore, the company says it is focusing strongly on the American market where many companies with large fuel consumption have discovered the value of securing themselves against oil price fluctuations.

In a world of volatile oil prices, the issue of price risk management has become highly important for members of the shipping industry, aviation companies and other large oil consumers and suppliers. This, in turn, has had a positive impact on Global Risk Management.

"Often our clients are surprised of how big a difference we can actually make. Many large fuel consumers and suppliers just accept the price fluctuations and thus the insecure budgets and difficult planning of expenses. There is no need to accept this. Therefore we experience an increasing demand for our knowledge and expertise in these times of unstable oil prices”, Christensen commented.

Following the solid financial results for 2011/12, Christensen and Global Risk Management now aim to continue the expansion strategy. At present, members of staff are said to be working hard to increase the company's client base and Global Risk has also inititated a strategy to identify new potential clients as it aims to achieve positive results for the financial year 2012/13 as well.