Monjasa appoints new Managing Director Europe

Monjasa announces promotion of Mikkel Kannegaard as new Managing Director for its activities in Europe. A role which has been filled by Group COO, Svend Stenberg Mølholt, on an interim basis.

Mikkel Kannegaard brings ballast from a position as General Manager at Monjasa’s office in Copenhagen. In the Danish capital, Mikkel has succeeded in building up a local trading department and various specialists’ functions aiding Monjasa’s global business as well.

From Portland Port to Cyprus

As new Managing Director, Mikkel’s responsibilities cover Monjasa’s around 800,000 metric tonnes (mts) of marine fuels supplied across Europe yearly. This includes overseeing operation of Monjasa’s two oil terminals located in Portland Port, UK and Skaw, Denmark, a fleet of four tankers and increasing Mediterranean trading activities headed from Monjasa’s local office in Cyprus.

A natural next step for Mikkel and Monjasa

“I believe this is a natural next step for Mikkel and our organisation. With Monjasa’s European activities spanning across trading to contract management and supply logistics, the role as Managing Director requires a holistic approach to oil and shipping. With Mikkel’s experience, drive and ability to making our business personal, I am confident that we can further develop our broad range of oil and shipping services in Europe,” says Group COO, Svend Stenberg Mølholt.

Leading a more mature European organisation

Since 2017, Monjasa Europe has increased its European supply volume by 23% from 650,000 mts to 800,000 mts, while at the same time contributing significantly to Monjasa’s global supply of +4m mts. During these years, the average seniority in the organisation has increased from less than two years to more than four years. In combination, this makes the Monjasa Europe sails well roped to continue matching supply and demand with Mikkel Kannegaard at the helm.

Ulrik Østergaard to lead developments in Fredericia

At the same time, Monjasa appoints Trading Director, Ulrik Østergaard, as new General Manager with daily management of Monjasa Europe’s activities in Fredericia. Ulrik has been with Monjasa for nine years and worked with both physical and back to back trading. His business acumen, coupled with his good understanding of employees and stakeholders, makes him naturally suited for the role of General Manager.

Altogether, Monjasa employs 102 colleagues across its three European offices in Fredericia and
Copenhagen, Denmark and in Limassol, Cyprus.

For more information about Monjasa’s European activities, please contact or