World News
Global Risk Management Reports "Solid" Fiscal Year Results as Clients Increase
Denmark-based Global Risk Management has reported in an emailed statement "solid" financial results for the fiscal year from May 2014 to April 2015.
Net earnings for the hedging solutions provider rose to $6.16 million from $5.25 million the year before, a result which was reportedly largely due to an increase in clients as well as activity among existing clients.
"Oil is one of the most volatile commodities in the world and for many of our clients a fluctuation of even a few dollars can make it difficult for the clients to keep their budgets," said Managing Director Hans Erik Christensen.
"We find customised solutions and help implement a strategy to eliminate fluctuations; this could be by securing the oil price from 10 percent - 100 percent of the oil price exposure."
The company said that it has had to hire new employees and set up a separate trading unit dedicated entirely to optimising prices for clients in order to keep up with the demand.
At the beginning of the year, in addition its Middelfart headquarters Singapore offices, the company opened up its new Copenhagen office.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.00 | 0.50 | 775.00 | 3.50 |
| Rotterdam | 603.50 | 1.50 | 759.50 | 11.50 |
| Houston | 626.50 | 2.50 | 794.00 | 2.00 |
| Fujairah | 649.00 | 0.50 | 904.50 | 6.50 |
| Global 20 Ports Average | 664.00 | 2.00 | 855.00 | 0.00 |
| Global 4 Ports Average | 632.00 | 1.00 | 808.00 | 4.00 |
| Global Average Bunker Price | 716.50 | 1.00 | 901.00 | 12.50 |
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