EnergyWatch

Shipping and bunker group USTC sees profits slashed in half

The results of company Selfinvest, which consists of the USTC group's businesses, dropped 50 percent to DKK 201 million after taxes. "The industry is experiencing rough seas like never before," says Torben Østergaard-Nielsen about the result.

Photo: PR-foto/USTC

The crisis in shipping has now dealt a major blow to the Danish USTC group, which owns leading bunker supplier Bunker Holding.

The financial report for the company Selfinvest, which covers all USTC companies, has just been published for the fiscal year 2016/2017, showing a major drop on the bottom line.

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