Industry Petroleum Founded 1876 | Headquarters Middelfart, Denmark Parent organization Selfinvest ApS | |
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Total equity 539 million kroner (2005) Subsidiaries Bunker Holding, Shipping.Dk A/S, Uni-Tankers A/S, Shipping Holding A/S | ||
United Shipping & Trading Company is a global group of companies headquartered in Middelfart, Denmark. The largest company in the group is Bunker Holding A/S Group which is the parent company of 30 autonomous bunker fuel companies around the world. In 2011 it had a turn-over of DKK 68 billions.
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History
United Shipping & Trading Company (USTC) was founded as Julius Mortensen Shipping in Fredericia in 1876. In 1974, the company acquired the local shipbroker H. Sommer in Middelfart. In 1978, the current owner of the company, Torben Østergaard-Nielsen, was appointed as new Managing Director of H. Sommer's Eftf. Shipping ApS and under his leadership the company diversified into bunker trading.
In 1980, Østergaard-Nielsen embarked on a process which has led to the transfer of bunker activities to independent subsidiaries around the world, now the backbone of Bunker Holding A/S Group.
In 1995 USTC moved to its present head office at Strandvejen in Middelfart.