Meet our new Head of Credit – Anders Boutrup

Monjasa has appointed Anders Egelund Boutrup, 37, as new Head of Credit as of 1 February 2017. Boutrup has developed his career within leading Scandinavian banking group, Danske Bank, during the past 10 years.

In a challenging shipping market environment, efficient credit management is important to support Monjasa’s focus on dealing with financially sustainable customers and suppliers.

“The right experience from the banking sector”

“We are very pleased that Anders decided to join us at Monjasa. He comes with a decade of experience from the banking sector focusing on the oil and shipping sectors. Throughout his career, Anders has acquired the right competencies within credit analysis, credit rating models, risk management, and strategy execution,” explains Monjasa Group COO. Svend Stenberg Mølholt and continues.

“Anders will now be driving Monjasa’s global credit efforts with our existing team of regional credit managers positioned at our offices in the Americas, Europe, and the Middle East & Africa. His focus will be on optimising day-to-day credit management while also taking a further strategic approach to Monjasa’s key stakeholders, such as suppliers, banks, external credit analysts, and credit insurance.”

A well-functioning credit management system

“I am pleased to be joining Monjasa and thereby continue working with the global shipping industry. Coming directly from the banking sector, I am pleased to experience that the existing credit management system is well documented and meets the high quality standards expected by a global company,” says Anders Boutrup.

Today, the greater part of Monjasa’s portfolio of customers are credit insured and the credit risk portfolio is much diversified to ensure that Monjasa’s credit performance is not reliant on large exposure to individual customers or industries.

Most notable, a punctual credit assessment process saw Monjasa withdrawing from granting trading credit to Hanjin Shipping six months prior to the company’s bankruptcy filing in August 2016. Thereby, Monjasa has recorded zero losses from the unfortunate collapse of the South Korean shipping giant.

Overall, no deterioration in realised credit losses has been recorded in 2016.