Connect with us

Business

United Shipping and Trading Company welcomes Nina Østergaard Borris as new CEO

Nina, who was the COO of USTC since early 2020, will succeed her father Torben Østergaard-Nielsen who will take over as Chairman of the Board of Directors for USTC.

Admin

Published

on

4 7

The following is an announcement on Wednesday (25 May) by United Shipping and Trading Company (USTC), parent of Bunker Holding, on Nina Østergaard Borris taking over the family-owned business as CEO from her father Torben Østergaard-Nielsen. 

  • Nina Østergaard Borris, co-owner and current COO of United Shipping and Trading Company (USTC), takes on new responsibilities in the family-owned business as CEO, succeeding her father Torben Østergaard-Nielsen who will take over as Chairman of the Board of Directors for USTC. 
  • Mia Østergaard Rechnitzer, current Head of Corporate Governance, will assume the position of Chief Governance Officer, stepping into USTC Executive Management.  

Family-owned United Shipping and Trading Company (USTC), which is owned and operated by Torben Østergaard-Nielsen and his two daughters, Nina Østergaard Borris and Mia Østergaard Rechnitzer, has announced that Nina Østergaard Borris will assume the role as the new CEO of USTC taking over after her father and USTC’s founder.  

Torben Østergaard-Nielsen will remain actively involved as the new working Chairman of the Board of Directors for USTC, and he will focus his efforts on setting the strategic directions for the company going forward.  

“It is exciting and very satisfying to take this next step in the generational succession and to hand over the responsibility of the daily operations of USTC to Nina,” says Torben Østergaard-Nielsen.  

“She has really excelled in her role as COO of USTC and has proven over a number of years that she has both the competences and the experience to grow USTC while safeguarding the solid foundation that USTC is built on.”

Mia Østergaard Rechnitzer was appointed Head of Corporate Governance in September 2021 as a long-planned next step in the development of the family business. 

Mia will subsequently move into a role as Chief Governance officer stepping into USTC Executive Management. She will focus on developing and elevating ESG initiatives for USTC and its entities.  

The change of leadership will become effective with the expressed goal of carrying on the family legacy of the company adhering to the guiding tenets of Torben Østergaard-Nielsen: Leadership, decency, and business acumen.  

“Together, Nina and Mia will carry on developing the organisation while ensuring that the family values will continue to permeate the company. As founder and co-owner and in my new role as working Chairman of the Board of USTC,” says Torben Østergaard-Nielsen.   

“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.”

Continuing the family legacy  

 Since early 2020, Nina Østergaard Borris has held the position of COO at USTC and has for the past years focused efforts on implementing synergies by bringing the USTC business units closer together. 

As a result of an ambitious growth strategy and multiple acquisitions delivered by Nina Østergaard Borris, USTC and its subsidiaries have grown significantly in both people and numbers over the last years. 

As newly appointed CEO, Nina Østergaard Borris will continue to evolve USTC while ensuring a strong footprint in the group and across all group entities in line with the owner family’s long-term values and ambitions.  

“It is with great pride but also humility that I will take over from my father. I am very much aware that I have a heavy legacy to lift and the responsibility this entails, and I am grateful for the opportunity and trust being passed onto me,” says Nina Østergaard Borris.  

“My vision for the company is clear and strong, and I am thankful to have the support of my father, my sister, and the Board of Directors. I am especially excited to continue growing and strengthening the group and to work closely with my sister Mia in driving forward the ESG agenda for USTC.”

“I am extremely pleased that Nina will assume the role as CEO of USTC. Not only is she fully capable of taking on her new responsibilities, but her new role also means that USTC operations will remain closely linked to the family ownership. Nina and I work extremely well together, and I really look forward to continuing to build on our joint vision for USTC,” says Mia Østergaard Rechnitzer.  

USTC Executive Management now consists of Nina Østergaard Borris as Group CEO, Mia Østergaard Rechnitzer as Group CGO, and Jakob Schultz Nielsen as Group CFO. 

Executive Management will report directly to working Chairman of the Board of Directors, Torben Østergaard-Nielsen.

Changes to the USTC Board of Directors  

Torben Østergaard-Nielsen’s appointment as working Chairman of the Board for USTC will result in additional changes to the Board.  

Klaus Nyborg, current Chairman of the Board of USTC, will assume the position of Vice Chairman of the Board for USTC. 

Klaus Nyborg will in addition step into the role as Chairman of the Board for USTC’s largest subsidiary Bunker Holding as well as the USTC’s tanker business Uni-Tankers.   

Torben Janholt has decided to step out as board member for USTC after many years of contributing to the growth and success of the company. 

Related: Bunker Holding Global Head of Commercial Operations departs for CM Biomass CFO position
Related: Bunker Holding posts third–highest results in its history, on the back of a ‘challenging year’
Related: USTC to appoint new Head of Corporate Governance; effective 1 September 2021
Related: USTC acquires BunkerEx to streamline digitalisation across its group

 

Photo credit: United Shipping and Trading Company
Published: 26 May, 2022

Continue Reading

Winding up

Singapore: Liquidators arrange creditors meeting for Otto Marine Limited

Meeting will be held from 3pm on 24 July at 8 Wilkie Road #03-08 Wilkie Edge Singapore 228095, according to Government Gazette notice.

Admin

Published

on

By

steve pb from Pixabay

A meeting for creditors of Otto Marine Limited, which is in liquidation, has been scheduled to take place on 24 July, according to a Government Gazette notice on Thursday (11 July). 

The meeting will be held from 3pm at 8 Wilkie Road #03-08 Wilkie Edge Singapore 228095

The agenda of the meeting will be as follows:

  • To update on the liquidation administration;
  • To approve the Liquidators’ fees and disbursements;
  • To approve the declaration of preferential dividend(s) pursuant to Section
  • 328(1)(b) to 328(1)(f) of the Companies Act, Cap. 50;
  • To consider and if thought fit, to appoint a committee of inspection; and
  • Any other business.

The details of the liquidators are as follows: 

Chee Yoh Chuang
Lin Yueh Hung
Liquidators
c/o 8 Wilkie Road
#03-08 Wilkie Edge
Singapore 228095

 

Photo credit: steve pb from Pixabay
Published: 12 July, 2024

Continue Reading

LNG Bunkering

Titan completes first STS LNG bunkering operation in Cuxhaven

Port of Cuxhaven in Germany had previously only seen LNG operations conducted via truck and currently only permits LNG bunkering at one berth, says Titan.

Admin

Published

on

By

Titan completes first STS LNG bunkering operation in Cuxhaven

LNG bunker fuel supplier Titan on Thursday (11 July) said it completed the first-ever LNG bunkering operation by ship in the port of Cuxhaven.

Titan’s bunker vessel Optimus successfully delivered LNG to dredger Vox Ariane operated by its long-term client Van Oord. 

“Our ship-to-ship bunkering in Cuxhaven represents a pioneering step in the region's LNG infrastructure development, as the port had previously only seen LNG operations conducted via truck and currently only permits LNG bunkering at one berth,” it said in a social media post. 

“LNG infrastructure development is part of a broader trend, with more ports across Germany adopting LNG operations to support shipping’s clean fuels transition.”

Titan added the improved LNG bunkering capabilities in Cuxhaven, a Niedersachsen Ports GmbH & Co. KG port, also opened up the pathway to maritime decarbonisation via liquified biomethane (LBM) and then renewable e-methane going forward.

 

Photo credit: Titan
Published: 12 July, 2024

Continue Reading

LNG Bunkering

UECC “Auto Achieve” receives first LNG bunker fuel delivery by barge in home country

Firm said it received the first ever supply of LNG by barge to their multi-fuel LNG battery hybrid car carrier in the Port of Drammen, Norway.

Admin

Published

on

By

UECC “Auto Achieve” receives first LNG bunker fuel delivery by barge in home country

Norwegian roll-on/roll-off shipping line United European Car Carriers (UECC) on Wednesday (10 July) said it received the first ever supply of LNG by barge to their multi-fuel LNG battery hybrid car carrier Auto Achieve in the Port of Drammen on 4 July.

The firm said this was the first time UECC received LNG by barge to any of their vessels in their home country Norway. 

“We also believe that it was the first time LNG was delivered by barge to any vessel in Drammen, and most likely the entire Oslofjord,” UECC said in a social media post.

The LNG was supplied by the Molgas Energy Holding vessel Pioneer Knutsen, owned by Knutsen Group OAS.

“UECC is very pleased to see the expansion of the LNG barge network in Norway,” it said. 

 

Photo credit: UECC
Published: 12 July, 2024

Continue Reading
Advertisement
  • SBF2
  • Consort advertisement v2
  • RE 05 Lighthouse GIF
  • EMF banner 400x330 slogan
  • v4Helmsman Gif Banner 01
  • Aderco advert 400x330 1

OUR INDUSTRY PARTNERS

  • SEAOIL 3+5 GIF
  • HL 2022 adv v1
  • 102Meth Logo GIF copy
  • Triton Bunkering advertisement v2
  • Singfar advertisement final


  • PSP Marine logo
  • Auramarine 01
  • Central Star logo
  • E Marine logo
  • Victory Logo
  • pro liquid
  • Synergy Asia Bunkering logo MT
  • Golden Island logo square
  • CNC Logo Rev Manifold Times
  • intrasea
  • Headway Manifold
  • Advert Shipping Manifold resized1
  • VPS 2021 advertisement
  • 400x330 v2 copy

Trending