Thu 28 Jun 2012 14:53

Global Risk achieves solid financial results


Risk management specialist more than doubles traded tonnage as an increasing number of clients look to secure themselves against oil price volatility.



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.


Marius Kairys, CEO of Elenger Sp. z o.o. Elenger enters Polish LNG bunkering market with ferry refuelling operation  

Baltic energy firm completes maiden truck-to-ship LNG delivery in Gdansk.

Samsung Heavy Industries (SHI) virtual reality (VR) training program developed in collaboration with Evergreen. SHI develops VR training solutions for Evergreen's methanol-fuelled ships  

Shipbuilder creates virtual reality program for 16,500 TEU boxship operations.

Illustratic image of Itochu's newbuild ammonia bunkering vessel, scheduled for delivery in September 2027. Itochu orders 5,000 cbm ammonia bunker vessel  

Japanese firm targets Singapore demonstration after October 2027, with Zeta Bunkering lined up to perform deliveries.

Bunkering of the Glovis Selene car carrier. Shell completes first LNG bunkering operation with Hyundai Glovis in Singapore  

Energy major supplies fuel to South Korean logistics firm's dual-fuel vessel.

Orient Overseas Container Line (OOCL) vessel. CPN delivers first B30 marine gasoil to OOCL in Hong Kong  

Chimbusco Pan Nation claims to be first in region to supply all grades of ISCC-EU certified marine biofuel.

The Buffalo 404 barge, owned by Buffalo Marine Service Inc., performing a bunker delivery. TFG Marine installs first ISO-certified mass flow meter on US Gulf bunker barge  

Installation marks expansion of company's digitalisation programme across global fleet.

Sogestran's fuel supply vessel, the Anatife, at the port of Belle-Île-en-Mer. Sogestran's HVO-powered tanker achieves 78% CO2 reduction on French island fuel runs  

Small tanker Anatife saves fuel while supplying Belle-Île and Île d'Yeu.

Crowley 1,400 TEU LNG-powered containership, Tiscapa. Crowley deploys LNG-powered boxship Tiscapa for Caribbean and Central American routes  

Vessel is the third in company's Avance Class fleet to enter service.

The inland LNG bunker vessel LNG London. LNG London completes 1,000 bunkering operations in Rotterdam and Antwerp  

Delivery vessel reaches milestone after five years of operations across ARA hub.

The M.V. COSCO Shipping Yangpu, China's first methanol dual-fuel containership. COSCO vessel completes maiden green methanol bunkering at Yangpu  

China's first methanol dual-fuel containership refuels with green methanol derived from urban waste.


↑  Back to Top