ShippingWatch

USTC saw revenues decline in tough market

The fiscal year 2012/2013 brought a decline in net revenues and lower results for SelfInvest, the parent company of United Shipping & Trading Company, which owns Shipping Holding, Bunker Holding, as well as Uni-Tankers.

The fiscal year 2012/2013 was characterized by a decline for SelfInvest, parent company of United Shipping & Trading Company, one of the ten largest companies in Denmark measured by revenue. The company's net revenue landed at USD 10.73 billion versus USD 11.87 billion the year before, and the company's result before taxes decreased to USD 29 million, compared to USD 64.2 million in the fiscal year 2011/2012.

As the owner of a large organization with multiple branches, my primary job is to pick the right team, and the new boards serve as confirmation that we've made the right choices, as they provide us with committed and competent sparring"

Torben Østergaard-Nielsen, owner, SelfInvest

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