Global Risk Management

Global Risk Management is a fuel price risk management company with corporate headquarters in Middelfart, Denmark.
The company provides customised derivative instruments for companies wishing to hedge against fuel price risk - primarily ship transport companies, airlines and oil suppliers, and to a lesser degree, trucking and fuel-intensive industrial companies. Global Risk Management's clients hedge against price volatility in traded commodities such as bunker fuels, aviation fuels, heating oils, diesel and petrol.
Global Risk Management also has offices in Copenhagen and Singapore.
Ownership
Global Risk Management is part of the United Shipping & Trading Company (USTC), one of Denmark's largest companies according to annual turnover. As well as owning a fleet of tankers, the Group includes a variety of shipping fuel supply and fuel trading companies.
History
Global Risk Management was founded in 2004, entering a fuel price risk management services market dominated by the supermajors and large investment banks. Rather than offer standardised hedging products or tying clients to specific fuel brands, Global Risk Managemnent promised clients customised solutions combined with the freedom to choose from any fuel supplier.
The company's services were initially focused upon shipping operators i.e. bunker hedging. However, as the 2000s energy crisis escalated, other fuel-dependent industries sought protection against fuel price risk.
Global Risk Management began offering risk management to civil aviation companies in 2006 and became an IATA strategic partner in May 2008.
Recent Expansion
By 2008, Global Risk Management had 18 employees and clients in a number of business sectors worldwide. In July 2008, the company opened an office in Copenhagen. In September 2009, the company officially opened its first Asian office at Springleaf Tower in Singapore.

Main Menu

See Also

Main Menu