USTC-owned Uni-Tankers goes into the red again

USTC-owned Uni-Tankers, which at the end of 2020 called for a "needed consolidation" of small and medium-sized players in the tanker market, came out of the financial year 2020/2021 with a new deficit.

Photo: PR / Uni-Tankers

The tanker market is an ongoing challenge for oil billionaire Torben Østergaard-Nielsen and his global shipping group USTC, which owns the product and chemical tanker company Uni-Tankers.

In the 2020/2021 financial year, Unitankers' revenue declined by 3.4 percent to DKK 1,249 million (USD 197.5 million) and the bottom line ended in the red with a net loss of DKK 36 million, according to an announcement from Selfinvest, which comprises global shipping group USTC including the world's largest bunker supplier Bunker Holding, logistics activities and Uni-Tankers.

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