Marine fuel supplier Monjasa reports third-strongest financial year

Marine fuel supplier Monjasa on Wednesday (9 April) recorded a net result of USD 65 million for 2024, a 40% drop from the USD 109 million reported in 2023.

Despite this, Monjasa said 2024 became another positive year for the company and was its 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,” the company said. 

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.

The company concluded last year with a 4% increase in total volume which reached a record 6.8 million metric tonnes (mt), surpassing the company’s 2023 volume of 6.5 million mt of marine fuels supplied to shipowners and operators worldwide. 

The total volume of 6.8 million mt “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%).

Monjasa Group CEO, Anders Østergaard, said: “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.”

Monjasa’s 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 to 60 million.

Photo credit: Monjasa
Published: 10 April, 2025