Peder Moller, CEO GRM. Image Credit / USTC.
Bunker Holding's risk management arm, Global Risk Management (GRM), is to become an independent entity under the United Shipping and Trading Company (USTC) umbrella.
The move gives GRM a bigger role within the group and does not affect its day-to-day operaton, USTC said.
The business rationale behind the change relates to the greater incidence of price volatility in current markets and the emergence of CO2 quotas.
"Today aviation and heavy industry, among others, face growing legal requirements for CO2 compensation," said GRM chief executive Peder Møller.
"In the foreseeable future we expect these demands to also encompass the shipping industry," Moller added.
Developing the service offer of GRM is part of USTC's growth strategy, the company said.
It gave an example of this with a recently finished project to allow Bunker Holding's bunker traders to integrate GRM services with their clients' needs.