ShippingWatch

USTC group delivers record annual report

Oil and shipping empire United Trading & Shipping Company (USTC) achieved its best result ever in 2014/2015. There are three major factors, says owner Torben Østergaard-Nielsen.

Once again, Torben Østergaard-Nielsen has been successful in generating growth in his company Selfinvest, which is the parent company for United Trading & Shipping Company.

In the recently released annual report for 2014/2015, the company achieved a result before taxes of USD 93.6 million, compared to about USD 52 million in the previous year. This is the best result ever, according to a press release. CEO and owner Torben Østergaard-Nielsen explains that this can be attributed to three main reasons:

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