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.
Improved security situation brings new opportunities
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.