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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.

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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

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Winding up

Singapore: High Court to hear Norvic Shipping Asia winding up application on 31 July

Application for the winding up of Norvic Shipping Asia Pte Ltd was filed by Netherlands-registered Mur Shipping BV on 8 April, according to Government Gazette notice.

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RESIZED singapore high court

An application for the winding up of Norvic Shipping Asia Pte Ltd was filed by Netherlands-registered Mur Shipping BV on 8 April, according to a Tuesday (21 July) notice on the Government Gazette.

It noted the winding up application is directed to be heard before the Judge sitting in the General Division of the High Court at 10am on 31 July.

Any creditor or contributory of the company desiring to support or oppose the making of an order on the winding up application may appear at the time of hearing by himself or his counsel for that purpose.

A copy of the winding up application will be furnished to any creditor or contributory of the company requiring the copy of the winding up application by the solicitors of the applicant’s, Oon & Bazul LLC, on payment of the regulated charge for the same.

The Applicant’s address is Hiridostraat 5, Gebouw Prismatrium, 1101CW Amsterdam, The Netherlands.

The Applicant’s solicitors are Oon & Bazul LLC of 103 Penang Rd, #04-04/05/06 Singapore 238467. 

Queries on the winding up application may be directed to the following email addresses: [email protected] and [email protected].

 

Photo credit: Manifold Times
Published: 22 July, 2026

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Methanol

World Fuel and partners complete first green methanol bunkering of car carrier in Shanghai

Operation involved the delivery of approximately 2,800 MT of green methanol to “Arctic Tern” via a ship-to-ship transfer using SIPG Energy’s dedicated methanol bunkering vessel “M/V Hai Gang Zhi Yuan”.

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World Fuel and partners complete first green methanol bunkering of car carrier in Shanghai

Marine fuel provider World Fuel on Tuesday (21 July) said it successfully completed the first green methanol bunkering of M/V Arctic Tern, with EUKOR Car Carriers and SIPG Energy at the Port of Shanghai. 

Arctic Tern is the first vessel in the new Shaper Class series of car carriers. 

The operation involved the delivery of approximately 2,800 MT of green methanol to Arctic Tern via a ship-to-ship transfer using SIPG Energy’s dedicated methanol bunkering vessel M/V Hai Gang Zhi Yuan, the largest vessel of its kind in operation. 

The bunkering operation was carried out at Haitong Terminal, Waigaoqiao Port Area, Shanghai Port, with cargo handling operations conducted simultaneously during bunkering.

This marks EUKOR Car Carriers’ first green methanol operation and the first time Arctic Tern has bunkered methanol since its delivery on 9 July. The operation marked the first bunkering at Shanghai Port of green methanol produced locally in Shanghai for an international PCTC operator. 

It also demonstrated the city’s integrated green methanol value chain, spanning local production, storage and bunkering, and established a replicable “Shanghai Model” for green methanol supply.

World Fuel arranged the supply and delivery of the fuel on behalf of EUKOR Car Carriers, working with SIPG Energy as the physical supplier at the Port of Shanghai.

The green methanol supplied was produced from municipal solid waste, ISCC-EU certified, and had a carbon intensity value below 25 gCO₂e/MJ.

Arctic Tern is the first of fourteen Shaper Class vessels ordered by Wallenius Wilhelmsen. With a capacity of 9,300 car equivalent units and methanol dual-fuel capability, the vessel will be operated by EUKOR Car Carriers, jointly owned by Wallenius Wilhelmsen and Hyundai Motor Group. Following her first green methanol bunkering, Arctic Tern will continue her maiden voyage from Asia to Europe.

Xavier Leroi, COO Shipping Services at Wallenius Wilhelmsen and CEO of EUKOR Car Carriers, said: “Completing Arctic Tern’s first green methanol bunkering shortly after delivery is a significant milestone towards our decarbonisation ambition for both EUKOR Car Carriers and Wallenius Wilhelmsen. It demonstrates how investments in next-generation vessel technology and fuel flexibility are being translated into real-world operations. 

“This achievement reflects the strong collaboration between all parties involved. Together, we have shown how partnerships across the maritime value chain can help make lower-emission fuels available and operationally viable at scale.”

Mark Tamsitt, SVP Global Marine Sales at World Fuel, said, “The first bunkering event with a new fuel is a significant moment for any shipowner, and our role is to make it as seamless as possible. By connecting EUKOR Car Carriers with SIPG Energy’s proven green methanol capability at the Port of Shanghai, we were able to deliver on reliable supply, fuel quality, and safe processes. As more of our customers bring methanol dual-fuel tonnage into service, we are committed to being the partner that makes these kinds of operations routine.”

Mr. Zhang Da, General Manager of SIPG Energy, said, “Welcoming Arctic Tern to the Port of Shanghai for her first green methanol bunkering demonstrates the strength and maturity of our supply capability. Building on our well-established methanol ship-to-ship bunkering services for container vessels, we have already extended such services to pure car and truck carriers (PCTCs). This bunkering sets a new record for the largest single SIMOPs green methanol bunkering for PCTCs in China, marking another step in building Shanghai’s position as a global green energy hub for international shipping.”

This operation follows Wallenius Wilhelmsen’s announcement on 9 July that Arctic Tern would complete her first methanol bunkering shortly after delivery. The vessel entered service on routes between Asia and Europe immediately following handover from China Merchants Jinling Shipyard in Nanjing.

 

Photo credit: World Fuel
Published: 22 July, 2026

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Ammonia

HPA and MB Energy develop safety concept for STS ammonia bunkering

HPA says the Port of Hamburg will become “bunker ready” for ammonia, laying the groundwork for safe and reliable ammonia bunkering in the future.

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HPA and MB Energy develop safety concept for STS ammonia bunkering

The Hamburg Port Authority (HPA) and integrated energy company MB Energy on Tuesday (21 July) said they have completed a comprehensive risk analysis and developed a dedicated safety concept for ship-to-ship ammonia bunkering.

MB Energy said the analysis lays the groundwork for the safe introduction of ammonia as a future marine fuel.

“With our planned ammonia import terminal in Hamburg-Blumensand, MB Energy intends to provide the reliable land side supply infrastructure needed to support this transition across northern German ports,” it said in a social media post. 

Mabanaft Group was renamed to MB Energy last year and merged over 50 existing brands under one identity. 

Separately, HPA said the Port of Hamburg will become “bunker ready” for ammonia, laying the groundwork for safe and reliable ammonia bunkering in the future.

“The focus is in particular on container ships, cruise ships as well as RoRo and ConRo (Container/RoRo) ships,” it said. 

“We expect ammonia to establish itself as an alternative marine marine fuel in the coming years. With our preparatory work, we are already creating the conditions to welcome the first ammonia-powered ships in Hamburg and to bunker them safely.:

HPA added that the import terminal for ammonia planned by MB Energy from 2029 will make a decisive contribution to ensuring the reliable availability of ammonia as a bunker fuel in northern German ports in the long term. 

“The use of an ammonia bunker barge is considered a possible addition to the landside infrastructure to enable ship bunkering in the port and beyond in the future,” it said.

Related: Mabanaft Group renames as MB Energy, merging over 50 brands under one identity

 

Photo credit: Hamburg Port Authority
Published: 22 July, 2026

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