United Shipping and Trading Company (USTC) is splitting off hedging firm Global Risk Management (GRM) from subsidiary Bunker Holding to become an independent company within its group portfolio.
The Danish tanker and bunkers group said the move would have no effect on GRM’s day-to-day operation but is a signal of its ambitions for the energy and risk management company.
USTC has been acquiring firms like CM Biomass and Freja Transport & Logistics as it builds a group which it believes has synergies between companies.
