United Shipping & Trading Company

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United Shipping & Trading Company
Industry Petroleum
Founded 1876
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 1876.[3] 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.[4]

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.[4]

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

Further reading[edit]