Torben Østergaard-Nielsen – more than four decades of business pioneering
From his initial hiring with the shipping company Julius Mortensen in 1976, Torben Østergaard-Nielsen quickly began developing his vision for the future of bunkering, founding Dan-Bunkering in 1981. As a new mediator in the fueling business, he assembled a core team of skilled coworkers and began developing an international network that would help establish the bunkering business as we know it today. This became the foundation of Bunker Holding, established in 1984, which has since grown to be a global leader and driving innovator within the bunkering industry.
After decades as the sole owner of Bunker Holding, Torben Østergaard-Nielsen has, with the advent of the bunkering giant’s parent companies USTC and Selfinvest, introduced his daughters as his successors in the companies that he spent a lifetime building:
“Together, Nina and Mia will carry on developing the organisation while ensuring that the family values will continue to guide the company. 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 executive management 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,” says Torben Østergaard-Nielsen.
Today, Bunker Holding is one of the main subsidiaries and financial cornerstones of the United Shipping and Trading company; a group containing a multitude of energy supply branches under the leadership of the Østergaard family. Since his start as a young managing director, Torben Østergaard-Nielsen – as founder and owner – has defined and embodied the three core values that still today are the foundation of Bunker Holding: Decency, leadership and business acumen.
Still today these original values guide the hand of employees across the group, ensuring that all employees recognize the importance of innovation, of developing industries, and of conducting healthy business on a foundation of trust and growth between Bunker Holding and our partners. These values dictate that any business must be profitable to thrive, and that profitability must never be at the expense of our moral or ethical obligations.
Strategically moving from past to future – together
Through an expansive M&A strategy the USTC group quickly began exploring synergies between the shipping and bunkering industries and has today developed into a wide energy supply corporation, housing both shipping companies, fuel pellet suppliers, a logistics group, a leading premium and sports car service and an independent, nationwide IT company. Functioning as a parent company and servicing specialized needs of its subsidiaries, USTC altogether employs more than 4.000 people from across the globe.
Today Bunker Holding is still the largest entity within USTC and employs more than 1.400 people across the world, servicing the shipping industry with specialist fueling experience. The title of CEO was passed to previous Sales and Marketing Director Keld R. Demant in 2013, Torben Østergaard-Nielsen has since maintained his influence as board member in Bunker Holding.
Torben Østergaard-Nielsen still makes his experience available to the Bunker Holding management, and still resides and works in the Middelfart area, from which he built his energy supply corporation.