Category:

Oil and shipping group, Monjasa, acquires the oil and chemical tanker, Monjasa Shaker, (9,600-dwt) for cargo and bunkering operations in the Arabian Gulf.

Monjasa continues to record an increasing demand for its marine fuel solutions and deployment of quality tonnage is increasingly relevant to ensure efficiency and fuel grade flexibility for customers. As an example, the Monjasa Shaker also allows on board product blending and is thus capable of supporting Monjasa’s biodiesel supplies across the UAE, which were commenced earlier this year.

Full-range maritime logistics  

Formerly known as the Trinity Erk, the Monjasa Shaker strengthens Monjasa’s marine fuel operations across the Middle East, which currently consist of four tankers ranging between 4,000 and 10,000-dwt.  

Equipped with deepwell pumps and five tank segregations allowing multiple fuel grades onboard, Monjasa Shaker increases operational flexibility. Capacity-wise she matches demand for transporting oil cargoes from the Fujairah bunkering hub to Monjasa’s main markets across Dubai, Abu-Dhabi and Sharjah ports, as well as performing ship-to-ship refuelling operations.

In 2021, Monjasa supplied 850,000 tonnes of marine fuels across the Middle East– equivalent to
15% of Monjasa’s 5.7m tonnes global volume.

“The Monjasa Shaker fits well into our existing fleet of tankers and matches market demand in terms of cargo capacity and high technical specifications”

Group Shipping Director, Torben Maigaard Nielsen says:  

“The Monjasa Shaker fits well into our existing fleet of tankers and matches market demand in terms of cargo capacity and high technical specifications. In fact, two years ago we acquired the sister vessel, Monjasa Server, which has been an excellent contribution to our Middle East fleet operations. Moreover, operating two sister vessels allows us to better apply learnings across performance and energy efficiency on board, which is becoming increasingly important for all shipowners.”

Balancing a fleet of owned and chartered tankers

Overall, Monjasa controls 25 tankers and barges globally of which 11 are owned. It remains a priority to have the fleet composed of the right mix of owned and chartered tankers to ensure both operational and financial flexibility across the Monjasa Group.

Facts about Monjasa Shaker

Type: Oil and chemical tanker
Year built: 2009
Dwt: 9,600
LOA: 117.60m
Beam: 19m

Monjasa is positioned among the world’s top 10 global marine fuels suppliers. Monjasa controls a fleet of 25 tankers and barges and supplied a total of 5.7m tonnes of fuel products across 700+ ports during 2021.

Panamanian, German/Cypriot, Danish, American and Italian – Monjasa is thrilled to welcome another international batch of young shipping professionals to the industry, as we are currently onboarding eight new Monjasa Oil and Shipping Trainees (MOST).

Following seven successful global recruitment events, Monjasa has carefully selected eight motivated trainees who are ready for two years of maritime hands-on experience and academic learning. During the programme, all trainees will also become part of global rotations among Monjasa’s offices in Dubai, Denmark, Cyprus, Singapore, USA and Panama.

Monjasa has been investing heavily in developing the bunker industry’s most comprehensive trainee programme since 2018. Going forward, Monjasa’s ambition is to continue working closely together with Danish Shipping to improve maritime learning and development opportunities.

“All trainees will also become part of global rotations among Monjasa’s offices in Dubai, Denmark, Cyprus, Singapore, USA and Panama”

Danish Shipping Education receives government stamp

This year, Monjasa has played a leading role in revamping Danish Shipping’s former Commercial Shipping Programme to the new and current Danish Shipping Education. A central part of this work has been to align the academic level across all courses to create a more coherent education as well as extending the focus on energy and fuel.

As a result, the Danish Shipping Education is now acknowledged as a formal and government-approved education, allowing students to earn ECTS points, instead of being recognised only as a private commercial programme.

“Exciting and meaningful career path”

“The marine fuels industry is facing growing complexity arising from shifting regulations and the green shipping transition to more environmentally friendly fuels. This is an exciting and meaningful career path where cultivating trusting relationships will be central to Monjasa’s future traders and our overall success,” says Group HR Director, Tracy Palm.

With eight new trainees on board, Monjasa currently has a total of 18 trainees enrolled in the MOST programme.

The 2022 batch of Monjasa Oil & Shipping Trainees:

• Carlemilio Momigliano, Trader in Dubai
• Emil Mirchandani, Trader in Dubai
• Valerie Della Togna, Trader in Panama
• Charles Bianchi, Trader in Houston
• Andreas Hadjimichael, Trader in Cyprus
• Cornelius Larsen, Trader in Copenhagen
• Laura Amalie Førby, Trader in Fredericia
• Frederik Kjær Østergaard, Trader in Fredericia

The new trainees become part of a global organisation with 43 different nationalities working together across 13 offices. Monjasa currently operates a fleet of 25 tankers and barges worldwide and supplied a total volume of 5.7m tonnes of marine fuels in 2021 – an increase of 16% compared to 2020.

Learn more about the MOST programme here.

In oil and shipping we often spotlight global trade developments and showcase vessels and logistical solutions. On the contrary, less attention is given to all the power that propels the industry from the inside and allows us to safely manoeuvre forward.

… Continue reading

We concluded our second year of Group Responsibility reporting with great new learnings and by making progress across our three pillars of Responsibility.

The 2021 report aims to further heighten transparency and make an impact across the Monjasa Group and towards our partners and communities.

The full report is available here.

“We have taken important and necessary steps towards managing and improving our direct and indirect emissions”

Transparency on our CO2 footprint

Under our pillar of Minimising our environmental impact, our main activities have revolved around how to develop full transparency on our scope 1, 2 and 3 CO2 emissions as one of the first companies in our industry.

By presenting our complete Group carbon accounts for 2020 and 2021 in this report, and at the same time developing accurate supply chain data for our customers to measure CO2 emissions from purchased fuel products, we have taken important and necessary steps towards managing and improving our direct and indirect emissions.

Strict sanctions compliance in practice

Claiming Leading industry governance requires year-on-year improvements and the ambition to go beyond our stakeholders’ expectations.

One of last year’s main achievements was the adoption of two new Lloyds List Intelligence data feeds to our existing compliance screening systems. In practice, this means that our Compliance department has even better opportunities to ensure sanctions compliance by also including tracking vessels’ movements for AIS gaps and sanctioned owners’ detection.

Inclusiveness across the Group

As part of our pillar, Promoting people and relations, we launched a Group-wide Inclusiveness theme in 2021. This initiative functions as the overarching theme to cultivate diversity and inclusion, uncover unconscious bias and reinforce commitment to our values of Respect, Ambition, Curiosity and Smile & Joy.

Altogether, a year that offered many new perspectives and important dialogues with employees, business partners and NGOs around the world.

Contact us for feedback or partnership ideas

We believe that clearly defining our role within the wider sustainability agenda reflects the overall transparency efforts of the Monjasa Group and look forward to continuing making progress in close dialogue with our partners.  

You can learn more about our three pillars of Responsibility here and contact our Responsibility team via responsibility@monjasa.com.

Oil and shipping group, Monjasa, has successfully completed its first blending and supply of marine biofuels in the UAE. The project was carried out in close collaboration with international energy company, Uniper and biofuel producer Neutral Fuels.

On 9 March 2022, the Monjasa-owned tanker, Monjasa Server (9,600-dwt), went alongside the Great Eastern Shipping Company tanker, Jag Prerana, off Dubai and successfully supplied a total of 233 metric tonnes of B20 biofuel. Ahead of delivery, the product blending was performed on board the Monjasa Server.

B20 biofuel blend consists of 20% biodiesel made exclusively from cooking oil waste and 80% VLSFO and meets ISO 8217 marine fuel standards.

Enabling the logistics of tomorrow’s fuels

Monjasa is determined to take an active part in meeting IMO’s future carbon emission reduction targets, which depends completely on the ongoing and future transition to alternative fuels.

Group Responsibility Director, Jesper Nielsen said: “Monjasa’s role in this transition is to become an enabler of the logistics of environmentally friendly fuels. In oil and shipping we are all connected and the journey towards offering alternative fuels at scale relies on forming new partnerships and exploring where Monjasa can add most value to the maritime infrastructure in the short, medium and long term.”

“By promoting new partnerships with Uniper and Neutral Fuels, Monjasa is present throughout the supply chain to understand the full spectrum of logistics”

Partnerships is key to achieving biofuels at scale

Commercial Director at Monjasa Middle East & Africa, Moustapha El Maghlouk, said: “By promoting new partnerships with Uniper and Neutral Fuels, Monjasa is present at the production site and throughout the supply chain to understand the full spectrum of logistics needed to make this project a success. With our combined synergies across fuel sourcing, production and logistics, we are confident of building a scalable biofuel option and we are already receiving interest for biofuel-blends from several shipping companies operating in the Middle East.”

Emanuele Gallone, Business Development Manager at Uniper Energy DMCC said: “We are thankful to Monjasa for successfully enabling the logistics and ensuring progress on our joint mission to support the decarbonisation of the shipping industry. Handling biofuels differs significantly from traditional marine fuels and it has been important to Uniper to guarantee safe and seamless delivery at sea to the end user together with Monjasa.”

Complementing industry’s first CO2-emission reports

While becoming an enabler for customers to reduce their carbon footprint through biofuel blends, Monjasa also provides transparency on CO2-emissions across fossil-based fuel products delivered. Through a unique industry role between upstream partners and downstream end users, Monjasa has developed a level of granularity that for the first time provides shipowners with accurate and real-time CO2 emissions-data linked to each individual fuel order placed with Monjasa.

For further information, please contact Commercial Director, Moustapha El Maghlouk, based at our Dubai office.

For the 5^th consecutive year, oil and shipping group, Monjasa, recorded an increasing demand for its global marine fuels services. The Group concluded the financial year 2021 with a net profit of USD 22m and improved the consolidated equity to a total of USD 155m.

Years of uncertainty and disrupted supply chains has shown how global trade plays an increasingly critical role in tying the world together. During such times, the Group is pleased to conclude 2021 delivering a record-high volume of 5.7m metric tonnes (2020: 4.9m mts) of marine fuels to shipowners and operators worldwide.

“Above all, we are very satisfied with our continuous positive financial results”

In fact, from supplying 3.5m mts in 2017, Monjasa has increased total volume by 63% in five years earning a solid position among the world’s top 10 largest marine fuel suppliers.

Group CEO, Anders Østergaard:

“Above all, we are very satisfied with our continuous positive financial results, also considering recent years’ volatile global trade environment. Our steady performances allow us to keep evolving our business around what we know best, which is providing maritime logistics and making our business personal across shipping communities in every port.  

Looking ahead, Monjasa will continue to observe and navigate the markets around us and use our experience to match supply and demand throughout the volatile and turbulent markets and structures.”

A year of record-high volumes

The record-volume was obtained across all regions and most notably in the Americas. Here, a soaring demand across US ports and expansion of Monjasa’s own supply operations in the Panama Canal, Colombia and the Port of Houston bolstered regional supply of a total of 1.95m mts (2020: 1.4m mts).

Launching the industry’s first CO2 emissions reporting

During the year, important progress was also made under the Group’s Responsibility framework by establishing full transparency on Monjasa’s own climate impact by applying the Greenhouse Gas (GHG) Protocol Standards. Coupling this knowledge with a unique role between upstream partners and downstream end consumers, the Group established a level of granularity that provides customers with accurate real-time CO2 emissions reporting linked to each individual fuel order placed with Monjasa.

Annual Report 2021 highlights

• Total volume: 5.7m mts (2020: 4.9m mts)
• Total revenue: USD 3.2bn (2020: USD 2bn)
• EBIT: USD 29m (2020: USD 34m)
• Net profit: USD 22m (2020: USD 30m)
• Consolidated equity: USD 155m (2020: USD 136m)
• Total number of supply operations: 12,266 (2020: 11,809)
• Fleet: 22 tankers (2020: 20 tankers)     

Global oil and shipping group, Monjasa, announces further expansion across Asia with a new permanent location in Shanghai, China opening March 2022.

Monjasa has been a well-established partner to the Asian shipping industry since 2008 with two current offices in Singapore and Vietnam.

The decision to enter China is propelled by an increasing number of Chinese customers and strong confidence in China’s continued positive developments as a maritime nation and shipping hub.

Soaring demand across Asia  

A continuously thriving Asia Pacific shipping industry and the world’s 10 largest seaports all located in Asia, reflect the region’s powerful maritime development.

For Monjasa, the combination of high activity levels and influx of new Asian-based customers has seen  marine fuels demand soar by 125% from 400,000 tonnes in 2019 to a total of 900,000 tonnes in 2020.

“We are excited about supporting Chinese shipping worldwide from Shanghai“

“Supporting Chinese shipping worldwide”

“We are very ambitious about our new daily presence in Shanghai. We are here to match supply and demand locally and at the same time offer Monjasa’s maritime logistics in other key shipping destinations such as the Panama Canal and West Africa.

We are experiencing Chinese shipping companies eager to move closer to their fuel suppliers and the entire supply chain. As a shipowner and marine fuels supplier, we believe that Monjasa meets these demands by taking ownership and being transparent about how our products are being sourced, shipped and supplied.

With 12 sister offices and 25 vessels in our fleet, we are excited about supporting Chinese shipping worldwide from Shanghai,” says General Manager in Singapore, Morten Ostergaard Jacobsen.

Monjasa appoints Micchi Chen

Monjasa has a history of building strong personal relationships across local shipping communities where mutual opportunities for fuelling global trade arise.

In Shanghai, Micchi Chen joins Monjasa as new Marketing Executive and will play an important role in securing a steady-developing Monjasa presence in China. Micchi Chen holds an educational background from Shanghai Maritime University and the University of Sydney, Australia. In addition, she brings professional experience from the Chinese bunker industry coming from a similar position at World Fuel Services.

New visiting address
Monjasa China
3/F, 139-1 Ruijin 1st Rd,
Huangpu district, Shanghai 200020

As of 1 January 2022, Monjasa is pleased to announce that Rasmus Ravnholdt Knudsen assumes responsibility as Group Chief Financial Officer (CFO) at Monjasa Holding A/S.

Rasmus steps up from an internal role as Group Vice President and will play a further important role in ensuring continuous robust corporate governance across the Group’s main business areas within oil and shipping, offshore logistics and IT consultancy.

Since his accession to the top management in 2019, Rasmus has contributed significantly to the strategic and financial development of Monjasa becoming a global top 10 marine fuels supplier.

Assuming key corporate financial functions

The role as Group CFO requires a deep understanding of Monjasa’s business and industry complexities arising from Monjasa’s global maritime operations. Rasmus Ravnholdt Knudsen will be overseeing key corporate functions such as financial reporting, treasury, trade finance and business intelligence. In addition, considering Rasmus’ background in law, he will continue to hold responsibility of Monjasa’s legal department.

“Rasmus has contributed significantly to the strategic and financial development of Monjasa becoming a global top 10 marine fuels supplier.”

As part of Monjasa’s Executive Management together with Group CEO, Anders Østergaard and Group COO, Svend Stenberg Mølholt, Rasmus Ravnholdt Knudsen will be navigating daily business according to Monjasa’s corporate purpose and report to the Board of Directors.

Strong internal career development

Rasmus started his professional career as an Assistant Attorney-at-Law in 2012, but decided to pursue a career in oil and shipping with the Monjasa Group in 2013.

Starting as Legal Counsel, Rasmus Knudsen soon demonstrated his strong corporate talent and has held various central internal positions in the Monjasa Group before being appointed as Group Vice President in 2020. From 2016-2018, he worked from Monjasa’s offices in Dubai, UAE before relocating to his native country and working from Fredericia, Denmark.   

Facts about Rasmus Ravnholdt Knudsen

Professional experience     

2022 –            Monjasa, Group CFO
2020 – 2022   Monjasa, Group Vice President
2019 – 2020   Monjasa, Group Director
2015 – 2019    Monjasa, Head of Legal & Advisory
2014 – 2015    Monjasa, Head of Business Partners
2013 – 2014    Monjasa, Legal Counsel
2012                Plesner Law Firm, Assistant Attorney-at-Law

Educational background

2009 – 2012     Aarhus University, Master’s degree in Law
2006 – 2009    Aarhus University, Bachelor’s degree in Law

Staying close to our customers and following the demand on new continents and in new ports is in the Monjasa DNA.

One of these moments was 2011, the year where Monjasa first set foot on American soil and established our first office in the US shipping hub, Stamford, CT.

Here, our small organisation soon felt the high entry barriers characterising the US marine fuels market. Therefore, challenging status quo was imperative for gaining foothold and supporting customers better across this time zone too.

Now, 10 years later, we are celebrating the Americas as an indispensable part of Monjasa’s global reach.  

Rasmus Jacobsen, Managing Director, Americas:  

“I went to Stamford as our first Trader and back then our main task was to be given a chance to demonstrate our way of business to the industry. We could see that once we earned the right to work with new customers and supply new vessels, we also continued to see fuel enquiries coming in.

” We have steadily earned our right to work with the greatest American shipping companies.“

So, we have always been focusing a lot on getting the right people on board. We have to be successful through our operations and personal service. In that way we have steadily earned our right to work with the greatest American shipping companies.

I also believe that establishing new supply areas in less crowded ports in Mexico or Colombia has meant new opportunities for many of our customers. Something you can expect from Monjasa in the future too.”   

Encouraging lasting relationships  

Another way to understand and engage with the North American shipping community was to start building new personal relations together with the Connecticut Maritime Association:

“The Monjasa team quickly became a valuable and integral part of the local community – joining the Association as members, sponsoring and supporting both the social events and also the annual CMA Shipping conference and trade show – the most significant shipping event in the Americas.

Most of all everyone at Monjasa operates with integrity and the whole team are just really fine human beings. We could not ask for better neighbours and supporters and wish continued success,” says Lorraine Parsson, Event Director, CMA.

Americas milestones

Overall, Monjasa Americas has recorded a soaring demand year on year. From supplying 40,000 tonnes of marine fuels in 2011 to reaching 1.4 million tonnes in 2020 – and continuing seeing positive developments.  

2011 – New Stamford office
2015 – New Panama City office
2015 – Panama Canal supply operations
2018 – Colombia supply operations
2019 – Annual supply volume reaching one million tonnes
2019 – Houston supply operations
2021 – New Houston office

With our most recent office opening in Houston, TX, our Americas organisation will keep broadening horizons for the shipping industry in the years to come.

Please contact our offices in Stamford, Houston and Panama for more information on our maritime services across the Americas.

Oil and shipping group, Monjasa, experiences an increasing demand across the Mediterranean following its market entrance with a permanent office in Limassol, Cyprus in 2016.

A new daily presence in the neighbouring Greek capital therefore comes as a natural next step to further broaden its Mediterranean horizons.

 Towards one million tonnes volume in Europe

In 2020, Monjasa supplied a total of 850,000 tonnes of marine fuels across European ports. This year, Monjasa expects to further increase its European volume and deliver close to one million tonnes of fuel products.

Zooming in on Greece, the country remains the world’s largest shipping nation controlling around 4,900 vessels. In fact, Greek ship owners account for around 20% of all global tonnage, equivalent to around 360 million deadweight tonnes.

 For Monjasa, the task is to offer new refuelling solutions to the Greek ship owners – both through Monjasa’s physical supply locations and global trading across 11 sister offices.

“With Monjasa always available in Athens, we are improving our understanding of the local demand and tightening customer relationships.”

“Tightening customer relationships”

Monjasa’s new Greek home is located in the Glyfada municipality, a fast growing shipping and commercial hub in Athens, housing some of the world’s largest ship owning companies.

“Our five-years presence in Cyprus has created new standards and expectations for our customers across the Mediterranean. And with Monjasa always available in Athens, we are improving our understanding of the local demand and tightening customer relationships,” says General Manager Mediterranean, Theodoros Mitsingas. 

Experienced Traders to lead Greek developments  

To offer more personal business in Athens, two of Monjasa’s experienced Traders, Trading Director, Mediterranean, Christos Doulaveris and Senior Trader, Minas Tsokopoulos, have relocated from Limassol, Cyprus to the Greek capital.

Athens makes it a dozen

Earlier this month, Monjasa also announced the opening of a new office in Houston, USA. Thereby, the new Athens’ office marks the company’s 12^th global office location across Europe, the Americas, the Middle East and Africa and Southeast Asia.

Overall, Monjasa controls a fleet of 25 tankers and barges and supplied a total of 4.9 million tonnes of marine fuels in 2020.

New visiting address
Monjasa Ltd
54 Grigoriou Lampraki, 1^st  Floor
166 74 Glyfada
Athens, Greece

Contact our new office in Athens.