Strong financial results and an equally strong strategic development in management means that energy hedging company Global Risk Management (GRM), who previously has been organised as part of Bunker Holding Group, is now established on equal terms as Bunker Holding and USTC’s other companies directly under the USTC ownership.
In Spring of 2021 GRM launched its new five-year strategy focusing on growth, agility, and cleaner energy. One year later, the successful implementation and the accompanying positive results of the plan has contributed to holding company A/S United Shipping and Trading Company (USTC) having decided to move GRM from its status as part of Bunker Holding Group to an independent company on equal terms as part of USTC’s growing portfolio of companies.
The decision to make GRM an independent company has no influence on the day-to-day operation of GRM but is a strong signal of USTC’s ambitions for the energy and risk management company.
“When acquiring companies like CM Biomass and Freja Transport & Logistics, we’re always looking for ways to create positive synergies between our companies. In doing this GRM is an important piece to the puzzle. GRM spearheads a business area that we can utilize in a broader sense to our entire organisation,” says Jakob Schultz Nielsen, CFO of USTC.
Increasing GRM’s potential within the USTC Group fits well into the company’s ambition to grow. Something that puts even higher demands on the strategic and dedicated work towards synergies and risk management across the group.
Great potential in a volatile market
GRM’s core deliveries, such as risk management and energy hedging, are aimed towards clients with large consumption or resale of energy, especially in the medium sized segment of the transport and production industries, and with a need to safeguard themselves from price fluctuations. The kind of risk management that the events of late with incredibly volatile pricing have emphasized the need for. In addition, a growing business area for GRM has also been the conveying of CO2 quotas.
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| Peder D. Møller CEO of Global Risk Management |
“Today aviation and heavy industry, among others, face growing legal requirements for CO2 compensation. In the foreseeable future we expect these demands to also encompass the shipping industry, something that underlines the positive synergies GRM has to offer the USTC portfolio of companies,” says Peder D. Møller, CEO of Global Risk Management and adds:
“It’s an obvious strategic move to put GRM on equal footing as the rest of the companies in the USTC Group, as it gives us further options to offer our sister companies support and added value, while at the same time utilizing the added volume to provide our external clients with an even better service.”
GRM has for the past year worked intensively on diversifying and optimizing their client service while utilizing the potential synergies between GRM and the USTC companies. As an example, GRM has just finished a project with Bunker Holding to allow their bunker traders seamlessly integrate the GRM services to their clients’ needs. An integration that not only benefits clients but also plays well into GRM and Bunker Holding’s strategy of investing increasingly in green fuels while still offering clients the best possible solutions regardless of energy type. This integration project has been a deep learning that GRM is moving forward with to use in future available synergy projects.
Today, GRM services clients both internally with the Bunker Holding Group and the rest of the USTC companies as well as externally. The new company structure will not affect this business model.
For more information please contact:
Mikkel Wenzel Andreasen
Press Officer, Group Communications
+45 26 79 91 63
