United Shipping & Trading Company

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United Shipping & Trading Company
Industry Petroleum
Founded 1873
Headquarters Middelfart, Denmark
Total equity 539 million kroner (2005) [1]

United Shipping & Trading Company is a global group of companies headquartered in Middelfart, Denmark. The largest company in the group is Bunker Holding A/S Group which is the parent company of 30 autonomous bunker fuel companies around the world. In 2011 it had a turn-over of DKK 68 billions.[2]

History[edit]

United Shipping & Trading Company (USTC) was founded as Julius Mortensen Shipping in Fredericia in 1873. In 1974, the company acquired the local shipbroker H. Sommer in Middelfart. In 1978, the current owner of the company, Torben Østergaard-Nielsen, was appointed as new Managing Director of H. Sommer's Eftf. Shipping ApS and under his leadership the company diversified into bunker trading.[3]

In 1980, Østergaard-Nielsen embarked on a process which has led to the transfer of bunker activities to independent subsidiaries around the world, now the backbone of Bunker Holding A/S Group.

In 1995 USTC moved to its present head office at Strandvejen in Middelfart.[3]

Business units[edit]

  • Bunker Holding A/S Group – the largest company in the group with 30 independent bunker fuel subsidiaries around the world.
  • Uni-Tankers A/S – founded in 1989 and since 1995 operating in its current form.
  • SHIPPING.DK – the group's shipping unit. The current name is from 2005 but its roots go back to 1876.
  • Global Risk Management – founded in 2004.

References[edit]

  1. ^ (Danish) (July 7, 2006). "Middelfart Company Traded for 19 Billion Dollars." Fyens.Dk.
  2. ^ "Top 20: Danmarks største virksomheder" (in Danish). TV2. Retrieved 2012-10-23. 
  3. ^ a b "History". USTC. Retrieved 2012-10-23. 

Further reading[edit]