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Monjasa acquires ‘Monjasa Server’ to boost bunkering operations in the Arabian Gulf

24 Nov 2020

Global oil and shipping group Monjasa Ltd on Monday (23 November) said it has acquired oil and chemical tanker Monjasa Server from Golden-Agri Stena. 

The 9,600-dwt vessel has been designated for cargo and bunkering operations in the Arabian Gulf by November 2020, it said.

During unprecedented times and despite continuous challenging global shipping markets, Monjasa said it has recorded an increasing demand for its marine fuel solutions compared to previous years. 

In combination with tightening regulatory frameworks across the industry, deployment of quality tonnage is increasingly relevant to ensure compliance and flexibility.

Formerly known as the GS Adventure, the Monjasa Server will strengthen Monjasa’s marine fuel operations across the Middle East, which currently consist of four tankers ranging between 4,000 and 10,000-dwt.

Equipped with deepwell pumps and five tank segregations allowing multiple fuel grades onboard, the company said Monjasa Server will expand operational flexibility.

Capacity-wise she matches demand for transporting oil cargoes from the Fujairah bunkering hub to Monjasa’s main markets across Dubai, Abu-Dhabi and Sharjah ports, as well as performing ship-to-ship refuelling operations.

In 2019, Monjasa noted it supplied 600,000 tonnes of marine fuels across the Middle East – equivalent to 13% of Monjasa’s 4.5m tonnes total volume.

“During the past few years, we have actively pursued additional ownership of the supply chain through an increasing percentage of owned tonnage across our fleet,” said Anders Østergaard, Group CEO.

“We have seen how the IMO 2020 sulphur cap sparked further market interest in how the new fuel products are being sourced, shipped and supplied. This most recent acquisition fits well with our ambitions and matches market demand in terms of cargo capacity and high technical specifications.”

Monjasa controls about 20 tankers globally of which 11 are fully owned. The company said it remains a priority to have the fleet composed by the right mix of chartered and owned tankers to ensure both operational and financial flexibility across the Monjasa Group.

Related: Monjasa reports strongest rise in demand during 12 years at Port of Singapore
Related: Monjasa increases bunker supply capacity at the Houston Greater Area
Related: Monjasa redesigns and renames 10 tankers with in-house ship management company

Photo credit: Monjasa
Published: 24 November, 2020

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