One of the leading bunker suppliers in the Middle East region, Monjasa delivered a strong set of results globally for 2019 including a 10% rise in volumes and significantly improved profitability. At a global group level, total volumes increased by up to 4.5 million tonnes up from 4.1 million tonnes the year before, with the Americas representing the most significant increase of 35% reaching a total of 1.15 million tonnes. Sales in the Middle East accounted for around 13% of the total.
Group CEO, Anders Østergaard observed that last year was dominated by preparations for the move to low sulphur emissions fuels as mandated in the IMO 2020 regulations. “For Monjasa, this much- anticipated shift to the more environmentally friendly marine fuels meant that our role of matching supply and demand with logistical solutions, became a critical factor across the shipping industry,” he said. “Through extensive preparations together with our business partners, including suppliers, our oil terminals and fleet operations, Monjasa ended up strongly positioned to respond to a highly volatile market. The result was an increasing demand for our products and services, and a successful transition for our customers.”