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.


CEO, Fredrik Witte and CFO, Mette Rokne Hanestad. Corvus Energy raises $60m from consortium for maritime battery expansion  

Norwegian energy storage supplier secures growth capital to accelerate zero-emission shipping solutions.

Indian Register of Shipping hosts at LISW 2025. Shipping industry warned nuclear power is essential to meet 2050 net zero targets  

Experts say government backing is needed for nuclear investment.

Rendering of LNG bunkering vessel Avenir TBN. ExxonMobil enters LNG bunkering with two vessels planned for 2027  

Energy company to charter vessels from Avenir LNG and Evalend Shipping for marine fuel operations.

Logos of international maritime associations supporting IMO Net Zero Framework. Shipping associations back IMO Net-Zero Framework ahead of key vote  

Seven international associations urge governments to adopt comprehensive decarbonisation rules at IMO meeting.

Concept illustration of biofuel and renewable energy production. Study claims biofuels emit 16% more CO2 than fossil fuels they replace  

Transport & Environment report challenges biofuels as climate solution ahead of COP30.

Rendering of Green Ammonia FPSO. ABB to supply automation systems for floating green ammonia production vessel  

Technology firm signs agreement with SwitcH2 for Portuguese offshore facility producing 243,000 tonnes annually.

VPS launches VeriSphere digital platform. VPS launches Verisphere digital platform to streamline marine fuel decarbonisation tools  

New ecosystem connects multiple maritime emissions solutions through single user interface.

Wallenius Sol vessel Botnia Enabler. Wallenius Sol joins Gasum's FuelEU Maritime compliance pool as bio-LNG generator  

Partnership aims to help shipping companies meet EU carbon intensity requirements through bio-LNG pooling.

IAPH Clean Marine Fuels Working Group. IAPH launches products portal with ammonia bunker safety checklist  

Port association releases industry-first ammonia fuel checklist alongside updated tools for alternative marine fuels.

Berkel AHK Logo. Berkel AHK joins Global Ethanol Association as founding member  

German ethanol producer becomes founding member of industry association focused on marine fuel applications.





 Recommended