Thu 28 Jun 2012, 14:53 GMT

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.


Anglo-Eastern logo. Anglo-Eastern completes 200,000 cbm of LNG bunkering operations  

Ship manager has conducted over 70 LNG bunkering operations across Asia, Europe, and North America.

ABS and Fleetzero partnership signing. ABS and Fleetzero collaborate on innovative battery containers for maritime applications  

The American Bureau of Shipping partners with Fleetzero to advance sustainable maritime technology through cutting-edge battery container solutions.

CIMC Raffles and Van Oord contract signing. CIMC Raffles secures second subsea rock installation vessel order from Van Oord  

Chinese shipbuilder to construct methanol and biofuel-capable vessel with 35,000-tonne rock capacity.

Marvel Swallow vessel. Wärtsilä signs 10-year lifecycle agreement with MOL for 12 LNG carriers  

Deal covers operational support and maintenance for vessels delivered in 2024 and 2025.

Jyouichi Syou and Leo Grayson. Oceanscore opens Tokyo office to support Japanese shipping with EU emissions compliance  

Digital compliance provider expands Asia-Pacific presence with new Japan operation led by Jyouichi Syou.

Panagiotis Bastas, Flex Commodities. Flex Commodities appoints Panagiotis Bastas as sales manager for Greece  

Bastas brings over 15 years of maritime and commercial experience to the Dubai-based commodities firm.

Dorthe Karin Bendtsen, KPI OceanConnect. KPI OceanConnect completes Baseblue integration with Cyprus entity rebrand  

Marine fuel supplier consolidates operations under single brand, targeting East Mediterranean market share growth.

Malik Supply logo. Malik Supply seeks bunker trader for Athens office  

Danish bunker and energy trading company recruiting for Greek operations with international travel requirements.

Sogestran Group and Agora Transport Fluvial logo side by side. French river transport firms STF and AGORA merge to form AGORA Transport Fluvial  

Sogestran subsidiaries combine operations across North-Benelux, Seine, and Rhône-Saône regions from January.

Brave Pioneer vessel. Tsuneishi-Cebu delivers world's first methanol dual-fuelled Kamsarmax bulk carrier  

Philippine President attends naming ceremony for vessel claiming 10% CO₂ reduction versus conventional ships.





 Recommended