Monjasa reports 12% increase in bunker sales volume in 2022

Global oil and shipping group Monjasa Holding on Tuesday (23 May) said the combination of historically strong shipping markets, high volatility and disrupted global trade flows during 2022 contributed to a dynamic marine fuels market affecting the firm positively.

“The marine fuels supply chain was put to the test in ports around the world, however, with the right organisation and maritime operations in place, Monjasa was able to support customers and suppliers during critical moments,” the firm said on its Annual Report 2022. 

“For Monjasa, this meant gaining market share at higher margins reflecting the increased volatility and imbalanced supply and demand.”

Total volume of marine fuels supplied to shipowners and operators worldwide increased by 12% to 6.4 million tonnes (mts) in 2022 from 5.7 million mts in 2021.

The total revenue increased to USD 5.5 billion from USD 3.2 billion in 2021 and a net profit of USD 171 million from USD 22 million the year before.

From supplying 3.5 million tonnes in 2017, Monjasa said it has increased total volume by 83% in five years and sustained a solid position among the world’s top 10 largest marine fuel suppliers.

Group CEO, Anders Østergaard, said: “We are very satisfied with the achieved results and to record a 12% volume increase during a year of highly imbalanced oil and shipping markets. For Monjasa, the past year has been all about supporting our customers by matching the fast shifting supply and demand in key shipping hubs around the world –with our end-to-end logistics and fleet of 30 vessels as a decisive enabler.

“Monjasa’s organisation builds on the ability to observe and navigate the world and markets around us.

Last year, we saw how this approach along with strong internal collaboration resulted in Monjasa being more in demand than ever before. In combination with our significantly improved financial foundation this puts Monjasa in a favourable position to keep exploring important industry agendas such as the green shipping transition together with our partners.”

Annual Report 2022 highlights

• Total volume: 6.4 million mts (2021: 5.7m mts)
• Total revenue: USD 5.5 billion (2021: USD 3.2 billion)
• EBIT: USD 186 million (2021: USD 29 million)
• Net profit: USD 171 million (2021: USD 22 million)
• Consolidated equity: USD 323 million (2021: USD 155 million)
• Solvency ratio: 46% (2021: 31%)
• Fleet: 30 tankers and barges (2021: 23 tankers)
• Total number of supply operations: 13,425 (2021: 12,266)
• Total number of ports served: 817 (2021: 737 ports)

Related: Monjasa records 10% on year increase in bunker sales volume, reaches 4 million mt mark
Related: Monjasa reports 9% increase in bunker sales volume in 2020 despite pandemic

Photo credit: Monjasa
Published: 24 May, 2023