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.

BY NIKLAS KRIGSLUND

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.

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