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Global Risk Management has announced that it achieved an annual profit before tax of USD 5.3 million, compared to USD 5.2 million in the previous financial year, as a company specializing in fuel risk management solutions.

For the first time in its 10 years as a business, Global Risk Management's annual accounts have been published in US dollars (USD) – a change made mainly to reflect the company’s international position and the primary denomination currency of its business transactions.

In a statement, the company said that the number of clients as well as the traded volume increased in the last financial year, which is why Global Risk Management says it is currently looking for new employees in order to bolster the increased activity.

”We see an increasing number of companies wishing to secure their fuel budgets”, said Hans Erik Christensen [pictured], managing director of Global Risk Management.

"Geopolitical and financial events as well as changes in the supply/demand situation continue to make oil one of the most volatile commodities in the world. Our company offers facilities to trade the barrel of oil, credit to clients as well as advice on developing hedging strategies – this is one of the areas where we can add value to our clients," Christensen added.

With the new financial year just started, Global Risk Management says it has implemented a new three-year strategy which focuses on helping existing as well as new clients implement hedging strategies.

"The vision of being the most customer-focused provider of oil risk management remains unchanged," the company said.

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.

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