Monjasa reports third-best financial year

2024 became another positive year for global marine fuels supplier, Monjasa Holding A/S. In fact, it was the third-strongest year ever when looking at the financial performance.

The financial year was positively affected by a strong demand in both trading activities and across Monjasa’s own maritime logistics and supply chains. In particular, Monjasa continued to see a steady increase in demand from global customers, which includes the world’s largest shipowning companies benefiting from collaboration across Monjasa’s 16 international offices.

Another important contributor to the 2024 financial performance was the continued investments in Monjasa’s global tanker fleet and fully integrating these into the marine fuels activities. With the purchases of an additional three tankers, Monjasa Hunter, Monjasa Rover and Monjasa Master, the Monjasa fleet concluded the year with a total of 33 owned and chartered vessels deployed worldwide.


Monjasa Group CEO, Anders Østergaard:

“We are satisfied with the achieved results and to record a 4% volume increase despite the overall global trade slow-down. This shows that Monjasa continues to deliver the right quality and that our personal service is in demand by shipowners.

At a time where global trade confrontations and uncertainties are building up, we also take comfort in our stable customer base and diversified business and geographic presence across trading, shipowning activities, technical ship management and offshore logistics. This allows us to keep evolving Monjasa, but we need to keep our eyes wide open and focus on our adaptability and where Monjasa can make a real difference to the maritime industry.”


Supplying a record volume of 6.8 million tonnes

Monjasa concluded 2024 with a 4% increase in total volume which reached a record 6.8m metric tonnes (2023: 6.5m mts) of marine fuels supplied to shipowners and operators worldwide. With a net result of USD 65m (2023: USD 109m) the year concluded within expectations and led to an improved consolidated equity of USD 444m (2023: USD 411m).
The total volume of 6.8m metric tonnes sustains Monjasa’s ranking as the world’s 7th largest global marine fuels supplier.

Worldwide, Monjasa’s total volume distribution was led by the Americas (35%), the Middle East & Africa (33%) and Asia (24%). 


Future outlook

Expectations for 2025 include a high degree of global trade volatility and a continuous slow-down of recent years’ strong shipping markets. However, several years of solid financial performances leaves Monjasa in a strong industry position to face future challenges. Overall, Monjasa expects 2025 to be another positive financial year with a net result in the range of USD 30-60m.

Annual Report 2024 highlights

  • Total revenue: USD 4.5bn (2023: USD 4.4bn)
  • Net result: USD 65m (2023: USD 109m)
  • Consolidated equity: USD 444m (2023: USD 411m)
  • Equity ratio: 55.6% (2023: 51.7%)
  • Total number of employees: 605 (2023: 630)
  • Total number of supply operations: 15,870 (2023: 13,962)


You can download the full report and get an overview of facts and figures here.