Wed 25 Jun 2014, 08:58 GMT

Global Risk Management posts record financial results


Risk management specialist achieves increase in annual profit before tax.



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.


Alisios vessel. Axpo completes first LNG bunkering in Valencia, with over half bio-LNG  

Ship-to-ship transfer to a container vessel makes Valencia the company's fourth Spanish port for LNG bunkering.

Christening ceremony of Makua vessel. Matson christens Makua, first of three LNG-ready Aloha Class container ships  

Dual-fuel vessel, due for delivery in early 2027, is the first of three ships worth around $1bn.

CMB.Tech logo. CMB.Tech seeks Singapore-based ammonia operations manager for Asia Pacific  

New hire will oversee ammonia chartering and bunkering and liaise with Far East partners.

Lumi Aurora vessel. IINO Lines deploys first Ice Class IB VLGC on long-term charter to Borouge International  

LPG-fuelled Lumi Aurora will carry North American gas to Borouge International's Porvoo plant in Finland.

Abelina Wagenborg vessel launch. Wagenborg launches first EasyMax 2.0 vessel, prepared for methanol, ammonia and LNG  

Abelina Wagenborg, built at Niestern Sander, is the first of a new generation designed for multiple alternative fuels.

NYK and MISC joint venture signing. NYK–MISC joint venture signs charter for 18,700-cbm LNG carrier with Malaysia LNG  

Asia LNG Transport will operate the dual-fuel diesel-electric newbuild, due from Hudong-Zhonghua in 2028, on routes to Japan.

Tsuneishi logo. Study finds methanol dual-fuel retrofit of Kamsarmax bulk carrier would take about 75 days  

Report by Mærsk Mc-Kinney Møller Center, involving Tsuneishi, puts conversion costs at 25–30% of the cost of a conventionally fuelled newbuilding.

LR, Shell and GTT joint development project (JDP) launch. Lloyd's Register, Shell and GTT launch joint project on hybrid-electric 200,000-cbm LNG carrier  

Partners to develop a concept combining hybrid-electric propulsion with GTT NEXT1 cargo containment technology for larger LNG carriers.

ClearMariner homepage. ClearMariner expands maritime sanctions screening with ESG, emissions and API support  

Online service now combines sanctions checks with voyage CO₂, CII, EU ETS and FuelEU Maritime estimates.

Long Jing Xin, Flex Commodities. Flex Commodities adds Long Jing Xin to Singapore marine fuels team  

Company appoints associate for marine fuels as part of plan for regional expansion.