ShippingWatch

USTC challenged by tough market conditions

Revenue and profits decline at United Shipping & Trading Company in the face of tough market conditions. But the biggest subsidiaries are still doing well, and owner Torben Østergaard-Nielsen can be pleased with volume growth at Bunker Holding and a big profit from Uni-Tankers.

It has been a challenging year for shipping as well as oil, with sliding prices in both markets making it beyond difficult for most players to maintain the profits from past year.

This also applies to United Shipping & Trading Company, which is active in both segments.

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