Monjasa continues positive developments and delivers 16% volume increase in 2021

April 7, 2022

For the 5th consecutive year, oil and shipping group, Monjasa, recorded an increasing demand for its global marine fuels services. The Group concluded the financial year 2021 with a net profit of USD 22m and improved the consolidated equity to a total of USD 155m.

Years of uncertainty and disrupted supply chains has shown how global trade plays an increasingly critical role in tying the world together. During such times, the Group is pleased to conclude 2021 delivering a record-high volume of 5.7m metric tonnes (2020: 4.9m mts) of marine fuels to shipowners and operators worldwide.

In fact, from supplying 3.5m mts in 2017, Monjasa has increased total volume by 63% in five years earning a solid position among the world’s top 10 largest marine fuel suppliers.

Group CEO, Anders Østergaard:

“Above all, we are very satisfied with our continuous positive financial results, also considering recent years’ volatile global trade environment. Our steady performances allow us to keep evolving our business around what we know best, which is providing maritime logistics and making our business personal across shipping communities in every port.

Looking ahead, Monjasa will continue to observe and navigate the markets around us and use our experience to match supply and demand throughout the volatile and turbulent markets and structures.”

A year of record-high volumes

The record-volume was obtained across all regions and most notably in the Americas. Here, a soaring demand across US ports and expansion of Monjasa’s own supply operations in the Panama Canal, Colombia and the Port of Houston bolstered regional supply of a total of 1.95m mts (2020: 1.4m mts).

Launching the industry’s first CO2 emissions reporting

During the year, important progress was also made under the Group’s Responsibility framework by establishing full transparency on Monjasa’s own climate impact by applying the Greenhouse Gas (GHG) Protocol Standards. Coupling this knowledge with a unique role between upstream partners and downstream end consumers, the Group established a level of granularity that provides customers with accurate real-time CO2 emissions reporting linked to each individual fuel order placed with Monjasa.

Annual Report 2021 highlights