• Follow Us On Our Preferred Social Media Platform:

Argus Media: Monjasa’s bunker fuel sales boosted by IMO 2020 regulation

09 Apr 2020

Erik Hoffmann of the global energy and commodity price reporting agency Argus Media on Wednesday (8 April) published an article reporting bunker supplier Monjasa’s boost in bunker sales post IMO2020: 

Danish bunker supplier Monjasa increased marine fuel sales by 14% on the year in the first quarter, following the introduction of the International Maritime Organisation’s (IMO) marine fuel sulphur cap on 1 January.

Monjasa sold a total of 1.23 mn t of bunker fuels in January-March, up from 1.08mn t in the first quarter of last year, boosted by higher sales of IMO-compliant 0.5% sulphur fuel oil and 0.1% sulphur marine gasoil (MGO).

The company’s most popular fuel in the first quarter was 0.5% fuel oil — it sold 762,000t of the product, compared with just 2,700t a year earlier when sales were mostly for testing. Its MGO sales went up by 26% on the year to 323,000t in January-March.

Monjasa’s sales of 3.5% sulphur fuel oil fell to 147,000t from 821,000t, accounting for just 12% of total sales in the first quarter compared with 76% a year earlier. Only vessels with exhaust scrubbers fitted have been allowed to burn 3.5% fuel oil since the IMO cap was implemented, and the vast majority of the global fleet has switched to low-sulphur fuels.

Monjasa supplies major bunkering hubs such as Singapore, Hong Kong and Houston, and has said it is the largest marine fuel supplier by volume in west Africa.

The company expanded its operations to Houston in December last year and to Cartagena in Colombia in October.

It also bought five bunker tankers in August last year to have more ownership of its supply chain ahead of the IMO sulphur cap. Monjasa previously operated four of the five tankers on a bareboat charter, supplying its own crew and provisions.


Source:
Argus Media
Photo credit: Monjasa
Published 9 April, 2020

 

Related News

Featured News

  • Sing Fuels Teaser Ad

Our Industry Partners

  • argus
  • Peninsula Petroleum advertisement 2

RSS Fields

WordPress RSS Feed Retriever by Theme Mason