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Global Risk Management, a company specializing in fuel risk management solutions, has announced that it achieved an annual profit before tax of US$6.2 million in the fiscal year from 1 May 2014 to 30 April 2015 compared to $5.3 million in the previous financial year.

In a statement, Global Risk Management said that the improved result was due to a "large inflow of new clients and increased activities by existing clients over the year".

"Even though the oil price races up and down, the stable growth continues at Global Risk Management," the company added.

As part of its expansion strategy, Global Risk Management has recently added further staff to its workforce and set up a trading unit that it says is "purely concentrating on optimising prices for the clients".

Hans Erik Christensen [pictured], managing director of Global Risk Management, remarked: "Oil is one of the most volatile commodities in the world and for many of our clients a fluctuation of even a few dollars can make it difficult for the clients to keep their budgets. We find customised solutions and help implement a strategy to eliminate fluctuations; this could be by securing the oil price from 10 percent to 100 percent of the oil price exposure."

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.

The company provides fuel risk management solutions to companies that are exposed to oil price fluctuations.

In addition to its head office in Middelfart, Global Risk Management has offices in Singapore and Copenhagen.

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