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Global oil and shipping group, Monjasa, remains active in the market for second-hand tonnage following the acquisitions of three tankers earlier this year. Today, Monjasa reveals additional ownership of the two tankers, Monjasa Leader (68.589-dwt) and Monjasa Refiner (13,051-dwt) for floating storage and bunker operations in West Africa.

Increasing number of owned vessels

Since 2018, the number of Monjasa-owned vessels has increased from five to 13 to ensure highly specialised operational standards, while at the same time lowering overall operating costs.

To realise the ambition of extended fleet ownership, the Monjasa Group has significantly extended its technical ship management capacity. This has been done through further development of the in-house company, Montec, which today comprises 20+ maritime specialists based in Dubai.

“The Monjasa Leader becomes our largest fleet member and represents our single most important tanker acquisition ever.”

Group Shipping Director, Torben Maigaard Nielsen says:  

“The Monjasa Leader becomes our largest fleet member and represents our single most important tanker acquisition ever. Given the limited opportunities of storing fuel products ashore, our floating storage solution is the backbone of our West Africa marine fuels operations and allows for our supply tankers to frequently go alongside the vessel to load cargo. Providing maritime end-to-end logistics in West Africa is a challenging task, but we are confident that our two new vessels bring the efficiency and flexibility needed.”
 

Delivery and dry docking in Algeciras and Bremerhaven

Monjasa recently took delivery of the two vessels Monjasa Leader (formerly Cabo San Antonio) in Algeciras, Spain and Monjasa Refiner (formerly Saturn) in Bremerhaven, Germany respectively.

Both tankers were then dry docked for renewal surveys, name change and subsequent hull blasting and painting matching the Monjasa fleet design.

Fleet reshuffle and Monjasa Runner farewell

Later this month, Monjasa Leader replaces SKS Dokka (119,456-dwt), which has served Monjasa on time charter for the past three years.   

At the same time, Monjasa has finalised the selling process of the 13,781-dwt oil and chemical tanker, Monjasa Runner, which will be repositioned from West Africa to the Mediterranean Sea for continued operations with her new owners.

Overall, the Middle East & Africa accounts for 27% of Monjasa’s total volume of 6.4m tonnes of bunkers supplied in 2022, while Monjasa’s fleet comprises some 30 tankers and barges deployed worldwide.

For any questions about our West Africa operations, please contact our Dubai office. 

With no obvious recruitment channels for the specialised bunkering industry, top 10 global marine fuels supplier, Monjasa, continues to invest heavily in the early onboarding of the next generation of shipping professionals.

This year, Monjasa presents the 6^th consecutive batch of Monjasa Oil & Shipping Trainees (MOST) since launching the programme in 2018. In fact, this year’s class of 11 new trainees represent the second largest number of candidates accepted into the programme.

“This means that they are eager to connect the dots and have a natural approach to solving main industry challenges ranging across digitalisation and ESG”

Furthermore, Monjasa expands the programme reach by offering two new trainee home offices in Shanghai, China and Athens, Greece. 

Connecting the dots for a future in shipping

“We hold a great belief in today’s young shipping professionals who join us with a strong interest in pushing agendas that have to do with their own future. This means that they are eager to connect the dots and have a natural approach to solving main industry challenges ranging across digitalisation and ESG.     

 However, this also requires strong academic and personal skills and Monjasa takes an active role in the continuous development of the Danish Shipping Education, which we believe provides the right academic ballast for our trainees,” says Tracy Palm, Group HR Director in Monjasa.

The 2023 batch of Monjasa Oil & Shipping Trainees

• Freideriki Paparouti, Trader in Singapore
• Leonard Kang, Trader in Singapore
• Xuyi Gan, Trader in Shanghai
• Mathias Daugård, Trader in Dubai
• Anna Ifigeneia Filopoulos, Trader in Athens
• Lasse Pedersen, Operator in Fredericia
• Nadir Festic, Trader in Fredericia
• Frederik André Bjerre, Trader in Frederica
• Kristian Winterskov, Trader in Copenhagen
• Nino Van Delft, Trader in Ho Chi Minh City
• Yeimy Rodriguez, Trader in Panama
  
  

Learning the ropes of the maritime industry

MOST is a global two-year programme that offers broad knowledge about the shipping industry and hands-on experience in how Monjasa fuels global trade. 

Candidates accepted into the MOST programme also become part of global rotations (2×2 months) across Monjasa offices in Dubai, Denmark, Panama and Singapore. This provides everyone with a unique understanding of different business contexts and cultures and gradually develops and prepares the candidates for a life in global shipping.  

This year’s MOST programme was kicked off in Denmark in September through a mix of Danish Shipping Education, team building activities and internal education.

Sustaining positive developments

Overall, Monjasa ranks as a global top 10 marine fuels supplier and the 11 new trainees become part of a diverse organisation with 52 nationalities working together across 14 offices. Monjasa currently operates a fleet of 30 tankers and barges worldwide and supplied a total volume of 6.4m tonnes of marine fuels in 2022 – an increase of 12% compared to 2021. 

Welcome aboard!

You can learn more about the MOST programme here.

By enabling a sustainable and scalable biofuel option for the maritime industry in Latin America, global top 10 marine fuels supplier, Monjasa, prepares for the changing fuel mix of the future. However, Monjasa still awaits the shift away from biofuel trial voyages to a broader pick-up in demand.  

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Global top 10 marine fuels supplier, Monjasa, announces further expansion in Asia by commencing the company’s first supply operations in the Port of Singapore. 

Monjasa is already a well-established trading partner to the Asian shipping community with three offices located in Singapore, Shanghai and Ho Chi Minh City and supplying 1m tonnes of marine fuels across the Asian region yearly.

“Coming from 15 years as a trading company in Singapore, Monjasa is all set to embrace this new opportunity of controlling tonnage as well”

Through this new expansion, Monjasa seizes further ownership across the industry value chain by offering end-to-end maritime logistics in the world’s largest and most transparent bunker hub. According to the Maritime & Port Authority (MPA), Singapore recorded a total volume of 48m tonnes of marine fuels supplied in 2022.

Monjasa expects its new Singapore operation to consist of a total of three tankers during 2023.

Morten Østergaard Jacobsen, Managing Director Asia, shares:

“Coming from 15 years as a trading company in Singapore, Monjasa is all set to embrace this new opportunity of controlling tonnage as well. We are now taking further ownership across sourcing, shipping and supply of the fuel products to continually evolve our services across the great Singapore anchorage.

The Port of Singapore is one of the busiest and most competitive markets in the world, but we are confident that shipowners will benefit from the increased flexibility and maritime quality matching Monjasa’s global standards. The Monjasa fleet already counts 30 vessels deployed around the world, and this is the strong maritime experience we now build on here in Singapore as well.” 

Logistically ready for biofuels supply

Monjasa is determined to become an enabler of future fuels and the new Singapore operations also open up for supply of biofuels according to local requirements.

The MPA is a globally recognised leader on the regulatory framework and enforcement across Singapore’s maritime activities, including standardised B24 Marine Biodiesel products. As an International Sustainability & Carbon Certification (ISCC) holder, Monjasa meets all biofuels supply requirements.

Monjasa continues to observe the biofuels demand carefully and remains logistically ready to play its role as an enabler in decarbonising the shipping industry.  

Three new tankers for Monjasa

As part of the operations, Monjasa has already deployed one tanker in full service and she is expected to be joined by additionally two tankers later this year.  

All three tankers are SIRE vetted and bring experienced crews when it comes to handling ship-to-ship bunkering operations in the Port of Singapore.

The Monjasa Group recently released its Annual Report 2022 which concluded with a record-high activity level and a total volume of 6.4m tonnes of marine fuels supplied worldwide, total revenue of USD 5.5bn and a net result of USD 171m.

For more information about our Singapore operations please contact singapore@monjasa.com

Oil and shipping group, Monjasa, acquires the oil and chemical tankers, Monjasa Thunder (19,991 dwt) and Monjasa Shipper (7,991 dwt) for bunkering and cargo operations across West Africa and in the Arabian Gulf. Both tankers will assume operations during this month.

Recently, Monjasa’s Annual Report 2022 showed a 12% volume increase to a total of 6.4m tonnes of marine fuels supplied, and the new vessels are expected to further contribute to Monjasa’s maritime logistics and fleet which today consists of 30 tankers and barges deployed worldwide.

Delivery and dry docking in Riga and Singapore

Monjasa has already taken delivery of Monjasa Thunder (formerly Solando) in Riga, Latvia and Monjasa Shipper (formerly Pearl Mercury) in Singapore, and the two tankers are currently inbound Lomé, Togo and Dubai, UAE respectively.

Following delivery, both tankers were dry docked for renewal survey, name change and subsequent hull blasting and painting according to the Monjasa fleet design.

“We are pleased to seal these two acquisitions in a challenging tanker market. Both of these vessels are very well-maintained and highly functional additions to our existing fleet of tankers.“

Group Shipping Director, Torben Maigaard Nielsen says:

“We are pleased to seal these two acquisitions in a challenging tanker market. Both of these vessels are very well-maintained and highly functional additions to our existing fleet of tankers. In fact, as part of Monjasa Thunder’s current voyage to West Africa, we successfully completed the first cargo operation in Rotterdam. Here, we experienced the ship’s high-efficiency potential and in today’s tanker market it is not an easy task to find quality second-hand tonnage.”

Matching supply and demand

Capacity-wise both tankers match the demand for performing ship-to-ship refuelling operations and transporting oil cargoes and thereby further bolstering Monjasa’s end-to-end logistics.

With a carrying capacity of around 20,000 dwt, Monjasa Thunder, is somewhat bigger than Monjasa’s existing West Africa tankers, which usually range between 8,000-13,000 dwt. This size positions her in the flexi tanker segment and thereby built to a high specification for moving cargoes.

Monjasa Shipper was built in 2018 and brings a very high operational standard. She is able to carry and segregate several different fuel grades, which fits well with Monjasa’s emerging biofuel activities in the UAE.

Overall, the Middle East & Africa account for 27% of Monjasa’s total volume of 6.4m tonnes of bunkers.

MT Monjasa Thunder
Year built: 2009
Flag: Liberia
Deadweight: 19.991t
LOA: 150m
Beam: 23,4m

MT Monjasa Shipper
Year built: 2018
Flag: Singapore
Deadweight: 7,991t
LOA: 115m
Beam: 19m

We are pleased to share our Responsibility Report 2002 which showcases our ambitions and yearly progress in detail across our three pillars of Responsibility.

Read full report here.

New green fuels partnerships

Under our pillar of Minimising our environmental impact, one of our main ambitions is to actively engage in the green transformation of the maritime sector, by being an enabler in the logistics of future fuels. One of our main activities in 2022, therefore revolved around establishing sustainable biofuel and green ammonia partnerships across key markets, including partnering with ISCC-certified suppliers to ensure complete value chain traceability.

Establishing climate targets

In an effort to reduce our indirect and direct carbon emissions within our own operations and the wider value chain, we have established climate targets for 2050 across Monjasa’s three scopes of carbon emissions. We believe this to be an important step and one that is necessary on our decarbonisation journey.

”One of our main ambitions is to actively engage in the green transformation of the maritime sector, by being an enabler in the logistics of future fuels”

Matching ever-changing sanctions compliance

Claiming a leading industry position on corporate governance requires year-on-year improvements and the ambition to go beyond our stakeholders’ expectations. As an example, our Compliance department engaged in three workshops with Deloitte to ensure that our risk management approach fits the ever-changing global trade risk environment.

In addition, we have been constantly monitoring and implementing adequate measures matching the sanctions compliance landscape 1:1. It is indeed during moments like these that we see the full value of having a flexible operational setup and experienced compliance specialists.

Shaping unique leadership journeys

Monjasa means personal business. Our corporate purpose keeps guiding our organisation and we continuously find new ways of promoting people and relations.

One new element on this journey has been to launch the Connected Leadership programme together with FANT, a journey aiming to create leadership scenarios where participants can mirror their current leadership approach, purpose and impact, and rethink this to identify who they want to be as human beings and leaders in Monjasa.

We believe that this report demonstrates the transparency efforts of the Monjasa Group and look forward to continuing making progress in close dialogue with our partners.  

You can learn much more about our Responsibility efforts here and contact our Responsibility team responsibility@monjasa.com.

During 2022, the combination of historically strong shipping markets, high volatility and disrupted global trade flows contributed to a dynamic marine fuels market affecting Monjasa Holding A/S positively.

The marine fuels supply chain was put to the test in ports around the world, however, with the right organisation and maritime operations in place, Monjasa was able to support customers and suppliers during critical moments. For Monjasa, this meant gaining market share at higher margins reflecting the increased volatility and imbalanced supply and demand.

Sustaining global top 10 position

The year concluded with a record-high activity level and a total volume of 6.4m tonnes (2021: 5.7m mts) of marine fuels supplied to shipowners and operators worldwide, total revenue of USD 5.5bn (2021: USD 3.2bn) and a net result of USD 171m (2021: USD 22m).

In fact, from supplying 3.5m tonnes in 2017, Monjasa has increased total volume by 83% in five years and sustained a solid position among the world’s top 10 largest marine fuel suppliers.

Group CEO, Anders Østergaard shares:

“We are very satisfied with the achieved results and to record a 12% volume increase during a year of highly imbalanced oil and shipping markets. For Monjasa, the past year has been all about supporting our customers by matching the fast-shifting supply and demand in key shipping hubs around the world – with our end-to-end logistics and fleet of 30 vessels as a decisive enabler.    

Monjasa’s organisation builds on the ability to observe and navigate the world and markets around us. Last year, we saw how this approach along with strong internal collaboration resulted in Monjasa being more in demand than ever before. In combination with our significantly improved financial foundation, this puts Monjasa in a favourable position to keep exploring important industry agendas such as the green shipping transition together with our partners.”

 A future of sustainable partnerships

Thanks to a unique position in the value chain between fuel producers and end customers, Monjasa is determined to contribute actively to the decarbonisation of shipping by becoming an enabler of future fuels. During 2022, Monjasa expanded into new supplier networks and delivered biofuels to the shipping industry in the Middle East and the Americas and entered into a collaboration to promote long-term green ammonia availability in Europe. Looking ahead, Monjasa will continue building relations and forming new partnerships minding the short, medium and long-term future fuels demand.

Positive financial outlook

Monjasa continues to demonstrate an industry-leading solvency ratio of 46% (2021: 31%) and more than doubled return on equity during the past year. In addition, Monjasa decided to repay all long-term debt obligations as of February 2023.

At the same time, Monjasa has maintained and expanded credit facilities during 2022 and is thereby well-prepared to accommodate future expansion and new supply areas.

In 2023, Monjasa expects another positive year with a financial net result in the range of
USD 40-80m.

Annual Report 2022 highlights

• Total volume: 6.4m mts (2021: 5.7m mts)
• Total revenue: USD 5.5bn (2021: USD 3.2bn)
• EBIT: USD 186m (2021: USD 29m)
• Net profit: USD 171m (2021: USD 22m)
• Consolidated equity: USD 323m (2021: USD 155m)
• Solvency ratio: 46% (2021: 31%)
• Fleet: 30 tankers and barges (2021: 23 tankers)
• Total number of supply operations: 13,425 (2021: 12,266)
• Total number of ports served: 817 (2021: 737 ports)

You can download the Monjasa Holding A/S Annual Report 2022 in full here.

One of Europe’s largest green ammonia facilities accelerates the green shipping transition through new logistics and offtake collaboration agreement with Monjasa.

On 6 February 2023, Monjasa and HØST PtX Esbjerg have signed a Commercial Collaboration Agreement (CCA) on logistics services and offtake of green ammonia for the maritime sector. According to the CCA, Monjasa will provide logistics services that will enable distribution of green ammonia from HØST PtX Esbjerg, which is a Danish power-to-ammonia project managed by Copenhagen Infrastructure Partners (CIP).

As a maritime logistics partner, Monjasa has the possibility to provide the offtake partners of HØST PtX Esbjerg with green ammonia. Furthermore, a volume of the planned production will be reserved for Monjasa. This secures a strong position for Monjasa in Northwest Europe, as the market for green marine fuels will expand in the future, but also for HØST PtX Esbjerg as both parties will significantly increase their reach and ability to market green ammonia to the maritime sector.

David Dupont-Mouritzen, Project Director, HØST PtX Esbjerg, shares:

“This is a decisive step towards realising tomorrow’s supply chain and creating the green transition within the maritime sector. The cooperation between Monjasa and HØST PtX Esbjerg will allow us to deliver green ammonia on the preferred location of our customers, and it will help accelerate the green transformation of an industry that has a considerable potential. We are taking some major steps at this moment, and hopefully both national and European regulation and policy frameworks will support this. The green transition in the maritime sector is on the verge of happening, and we wish to maintain the progress with the combined strengths of our partners.”

Jesper Nielsen, Group Responsibility Director, Monjasa, shares:

“We are excited to embark on this journey with HØST PtX Esbjerg and Copenhagen Infrastructure Partners because it shows shipowners around the world that green ammonia is becoming available as a long-term marine fuel option. At Monjasa, our strengths lie in maritime logistics, and we are determined to become an enabler of alternative fuels worldwide thanks to our unique industry position between fuel producers and end users. Only by being curious and learning from each other will we succeed in decarbonising shipping and we have a very strong partner in CIP.”

“We are excited to embark on this journey with HØST PtX Esbjerg and Copenhagen Infrastructure Partners because it shows shipowners around the world that green ammonia is becoming available as a long-term marine fuel option.“

The chicken-and-egg challenge

Green ammonia is the cleanest of alternative fuel production methods for the maritime industry, but also represents the classic chicken-and-egg challenge. While the technology is available, the regulatory framework and infrastructure for distribution still need to be developed and new ammonia-fuelled engines are expected to be commercially available in 2024 with testing commencing this year. So, should the ship owners drive the demand by building new ships using green fuel technology or must the supply chain develop to support the transition? For HØST PtX Esbjerg and Monjasa it is crucial to take the first steps and establish ambitious partnerships that also serve as a pull factor towards the maritime industry and ultimately will help secure more ammonia-fuelled newbuilds.

A favourable distribution route

The HØST PtX Esbjerg production facility is located in Southern Denmark close to the port of Esbjerg, from where the ammonia will be distributed.

The Port of Esbjerg provides access to major European ports, e.g., Hamburg and Rotterdam, which ensures a favourable distribution route for the green ammonia throughout Europe. In addition, the port ranks as Europe’s largest base port for shipment of offshore wind turbines.

About HØST PtX Esbjerg / Copenhagen Infrastructure Partners
HØST PtX Esbjerg is a leading, Danish Power-to-X project under development, deploying large-scale industrial use of electrolysis technology on gigawatt level to produce ammonia. Powered entirely by renewables, HØST PtX Esbjerg will produce approx. 600,000 tonnes green ammonia per annum for use in fertilisers and in fuels, contributing to the long-term sustainability of agriculture and shipping

HØST PtX Esbjerg is a project in the CI Energy Transition Fund I managed by Copenhagen Infrastructure Partners. The fund focuses on the next generation of renewable energy infrastructure including industrial scale Power-to-X projects and the decarbonisation of the so-called hard to abate industries such as shipping, land transport and aviation using green fuels.

About Monjasa
Monjasa is a global partner in the oil and shipping industries and among the world’s 10 largest marine fuel suppliers with a total volume of approx. 6m tonnes yearly. With a fleet of some 30 tankers and barges, Monjasa services shipowners, charterers and operators in more than 700 ports worldwide. Monjasa employs around 500 traders and other maritime specialists and recorded total revenue of USD 3.2bn in 2021. As part of its Responsibility framework, Monjasa is engaged with Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping as Mission Ambassador.

Learn more about Monjasa’s Responsibility framework here

Global oil and shipping group, Monjasa, accelerates industry transparency by launching real-time data flows from its global tanker fleet and straight to the mobile phones of its customers.

The new Monjasa app offers a window into the heart of Monjasa’s trading and maritime operations to show what a more holistic industry approach may look like in 2023 and beyond.

Years of data integration and IT-engineering have been invested into developing new digital workflows including access to features like customer satisfaction surveys, real-time price indications, document trails and instant supply notifications.

Through this pioneering move, Monjasa is determined to keep challenging the status quo in the supply chains in continuation of the group’s existing service and personal business approach.

Monjasa Group CEO, Anders Østergaard, shares:

“Our tankers are often operating far from shore and around the globe, however, by sharing real-time data and business insights with our customers, we are closer connected to each other than ever before. We are pushing digitalisation to the limit and our ultimate ambition is to provide complete end-to-end transparency across our operations as fast as the satellite technologies allow us to do it.”

The new Monjasa app offers a window into the heart of Monjasa’s trading and maritime operations to show what a more holistic industry approach may look like in 2023 and beyond.

What the ship owners and charterers say 

A pre-launch of Monjasa’s new digital features reaffirmed how this integrated collaboration improves daily workflows and supports more efficient operations.

Mauricio Lacayo, AVP, Supply Chain, Royal Caribbean Group:
“We are very glad to see Monjasa taking the next step towards improving and digitising the fuel supply chain end-to-end. Instead of exchanging multiple messages about individual fuel orders, this digital platform provides full transparency across all the transaction and logistic details.”  

Andrea Zapata, Ocean Freight Operations, Bunge:
“We are finding it very handy and helpful as a decision making tool as you will not only follow up on your fleet real time, but also on some key matters related to the market as fuel price, trends and news. I really like the feature of consumption calculation, units conversion and fuel specs so this will drive you to the app usage as a supportive tool.”

Facts about the Monjasa app

When it comes to design and functionality, the Monjasa app is left simple and transparent with key features including:

Real-time supply notifications

• Full overview of fuel inquiries and orders
• Worldwide price indications
• Customer satisfaction surveys
• Accurate CO2 emissions data
• Fuel efficiency, temperature and volume calculations
• Complete invoice details
• Supply types, fuel grades and historic volume development
• Monjasa fleet positions and vessel specifications
• Transparent claims handling flow

The Monjasa app is easily accessible in App Store and will continuously be updated with additional features to further enable end-to-end transparency in every port.

For more information about accessing the Monjasa app, please contact app@monjasa.com.

Global oil and shipping group, Monjasa, announces further expansion across the Americas with new barge operation and office location in Rio de Janeiro, Brazil.

Monjasa is already a well-established partner to the Americas-based oil and shipping industries with three existing offices in Panama City, Stamford and Houston.

The Brazilian oil and gas market is undergoing some important changes which leave further room for international companies such as Monjasa to enter the local marine fuel markets. Consequently, as of 13 September, Monjasa commences Marine Gasoil (MGO) supplies to the offshore and shipping industries by barge and truck.

The overall Brazilian marine fuels market is estimated at 5-6m metric tonnes yearly.

Managing Director Rasmus Jacobsen says:

“The maritime logistics in Rio de Janeiro can be challenging. This is a true niche market where understanding the local regulations and product flows in detail are prerequisites for running the daily operations. Monjasa’s decision to establish ourselves in Rio de Janeiro comes from a sincere conviction that we can make a difference for offshore operators and shipowners.

“The new barge operation brings additional scale and flexibility to customers refuelling in Rio de Janeiro”

Monjasa has a history of entering more complex markets in West Africa, the Middle East and Latin America and we have been working for several years to meet the demand for more streamlined and transparent marine fuel operations in Rio de Janeiro too.” 

Monjasa takes barge on time charter  

Recently, Monjasa has been supplying marine fuels by trucks only and the new barge operation brings additional scale and flexibility to customers refuelling in Rio de Janeiro.

Monjasa has agreed time charter terms for the barge, TWB-250, which offers a loading capacity of 1,500cbm. The barge is oil major approved and meets all operational offshore quality and safety requirements.

Aline Vaz leading local developments

Monjasa emphasises strong personal relationships across the local oil and shipping communities and will also establish a permanent office in Rio de Janeiro as part of the expansion.

Bringing vast experience from the Brazilian bunker industry, Trader, Aline Vaz, will be leading future developments, including establishing the local office and organisation in the Botafogo area.

New office address:
Edificio Argentina,
Praia de Botafogo, 228 – Botafogo,
Rio de Janeiro – RJ, 22250-906
Brazil