World News
Nina Østergaard Borris Appointed CEO of Bunker Holding Parent Firm USTC
Nina Østergaard Borris has taken over from her father as CEO of the United Shipping and Trading Company (USTC), the parent company of marine fuels conglomerate Bunker Holding.
While Østergaard Borris is taking over as CEO, from her former position as chief operating officer, her father Torben Østergaard-Nielsen will become chairman of the company's board, USTC said in an emailed statement on Wednesday. He will remain actively involved in the company.
Current board chairman Klaus Nyborg will become vice chairman of USTC, as well as taking over from Østergaard-Nielsen as chairman of Bunker Holding.
Østergaard Borris was made COO of USTC in January 2020, having previously served as head of mergers and acquisitions at Bunker Holding.
Her sister, Mia Østergaard Rechnitzer, will step into the firm's executive management as chief governance officer.
"Together, Nina and Mia will carry on developing the organisation while ensuring that the family values will continue to permeate the company," Østergaard-Nielsen said.
"As founder and co-owner and in my new role as working Chairman of the Board of USTC, I will remain close to the business and stay very active in owner-related decisions surrounding USTC.
"I will continue to do so in close collaboration with both Nina and Mia and the leadership in all USTC companies.
"I have no plans to retire or reduce my workload, and I will instead focus my efforts on canvassing new business opportunities and setting the strategic direction for USTC."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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