At Monjasa, we are thrilled to welcome another batch of young shipping professionals to the industry, as we are currently onboarding the 2019 batch of Monjasa Oil and Shipping Trainees (MOST).
Monjasa has been a local partner to the Danish shipping community since opening a permanent office in Copenhagen in 2013.
Years of preparation for the upcoming IMO 2020 regulations was condensed into Monjasa’s first ship-to-ship supply of the new bunker fuel with a maximum 0.5% sulphur content. The operation was completed in Southampton, UK and included supply of VLSFO and MGO.
Monjasa secures five tankers with a total 37,500 deadweight and thereby extends ownership of the supply chain across core markets in the Arabian Gulf, West Africa and the Panama Canal at a critical point of time in bunkering and shipping.
As acting Executive Vice President of DFDS’ Ferry Division, Peder Gellert Pedersen brings 40 years of hands-on experience with international maritime shipping.
The 2018 Annual Report shows 17% increase in sales volume reaching 4.1m tonnes of marine fuels and a positive net result of USD 5m. Coupled with the entry of new banking partners and closer relations with oil majors, the Monjasa Group improved its business fundamentals during the year.
Following 11 years of presence in Singapore, Monjasa now expands further across Southeast Asia.
Vietnam is in the midst of an economic upturn sending ripple effects to the shipping industry as well. Thus, we feel that now is the right time to make the move and build further on our local relations.
Delivering 450,000 tonnes of marine fuel in the Panama Canal in 2018, Monjasa steps up as the 2nd largest local bunker supplier.
Monjasa expects a 200,000mts volume increase from its new supply location Djibouti. The objective is to challenge status quo and provide a valid alternative to the traditional Suez and Jeddah bunker markets.
Strategically located at the mouth of the Red Sea, Djibouti is fast developing into an attractive bunker destination on the busy Suez waterway. Improved maritime infrastructure and heavy investments in port developments are expected to further advance trade going in and out of Northeast Africa in the future.
It has always been part of Monjasa’s business model to build niche markets and offer ship owners and operators valid alternatives to taking bunkers in the world’s traditional hubs.
“As the security situation in the Gulf of Aden is improving, new opportunities arise for both service companies and global shippers operating in the area. Having joined forces with a local partner, we are determined to demonstrate Djibouti as a competitive and high-quality refuelling option on this important sea route,” says Group COO, Svend Mølholt.
As part of the setup, Monjasa imports the products with Handysize tankers, which also serves as floating storage for the operation. Currently the 40,000 DWT tanker ‘Karen Maersk’.
The bunker operation in Djibouti is fully operational and offers all fuel grades according to ISO 8217:2010 specifications.
The bunker operation in Djibouti is fully operational and offers all fuel grades according to ISO 8217:2010 specifications. In total, Monjasa foresees a 200,000mts volume increase during 2019.
UBAF as new regional banking partner
As part of the Northeast African operations, Monjasa welcomes trade finance bank, UBAF, as new regional banking partner.
“With Crédit Agricole as its main shareholder, UBAF holds a high global credit rating. Coupled with its 45 years of experience financing businesses in the Middle East and Africa region, we see a lot of synergies in this new partnership,” says Rasmus Knudsen, Group Director, Legal and Treasury.
On 5 November 2018, Monjasa presented JP Morgan as new banking partner in the US.
Global oil and shipping Group, Monjasa, announces new credit agreement in the US on the back of positive sales volume developments across the Americas.
