Danish tanker and bunker giant United Shipping and Trading Co (USTC) has drawn up a new five-year growth plan following a transfer of power in the controlling Ostergaard-Nielsen family.

The company aims to expand the parent’s back-office support for its subsidiaries, as well as looking for “strong synergies, increased autonomy and mutual responsibilities”.

The plan will mark “a new era” following a series of record-breaking financial years for the group.