ShippingWatch

Major investor sticks to power in USTC

We have created a dream team in Uni-Tankers, owner of United Shipping & Trading Company, Torben Østergaard-Nielsen, says. He maintains his powers in the group until the nearing generational change, he tells ShippingWatch.

A new strategy adopted in 2012 shows the path the growing USTC Group will travel over the coming three years. Measured on turnover, the USTC Group is one of the biggest companies in Denmark. The high turnover is driven by the activities in Bunker Holding. An important element of the strategy is that Torben Østergaard-Nielsen, founder of USTC, will continue as the sole owner of the company for the entire length of the strategy. What is supposed to happen following the strategy has not been decided, sole shareholder Torben Østergaard-Nielsen answers when asked directly. The building up of the USTC has shown that he prefers running his own companies.

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