Global oil and shipping group Monjasa Ltd on Monday (23 November) said it has agreed to the terms for the Crude Oil Tanker, SKS Dokka (119,456-dwt), to be the new floating storage for its West Africa operations.
At the same time, Monjasa said its data reveals a significant shift in product demand across the region after one year of IMO 2020 regulations coming into effect.
Today, West Africa has the fastest growing population of any region in the world. In a global trade context and considering that approximately 90% of all goods are being transported by sea, this development puts great demands on the region’s maritime logistics, it added.
By applying modern floating storages as part of the refuelling solutions, Monjasa noted its team has ensured the continuation of a steady and efficient supply of more than 10 million tonnes of marine fuels across West Africa in the period between 2010-2020.
On Wednesday, 16 December 2020, SKS Dokka replaced her sister vessel, SKS Darent, to become the new focal point of Monjasa’s maritime operations in West Africa.
The 2010-built and 250m in length tanker is now positioned off Lomé, Togo and already in full operation. To ensure safe and flexible cargo handling, the SKS Dokka comes with double valve segregations and is equipped with deepwell pumps for each individual tank.
By operating its own fleet of tankers, Monjasa said it can adapt and match shifting buying behaviour of shipowners and operators. Most recently, the company has experienced how the IMO 2020 regulations have significantly changed product demand from the Gulf of Guinea to Namibia in the south.
One year post IMO 2020, the company now has its own data on how the transition has impacted the West Africa marine fuels market.
While High Sulphur Fuel Oil (HSFO) accounted for 74% of Monjasa’s supplied products in 2019, this number has come down to 19% in 2020. At the same time, the volume share of Very Low Sulphur Fuel Oil (VLSFO) soared from 5% to 59%.
Looking at distillate fuel products, Marine Gas Oil (MGO) supply experienced a slight increase from 21% to 22% of Monjasa’s total supply volume in West Africa.
Monjasa currently operates a fleet of approximately 10 tankers in West Africa and has local offices in Angola and Namibia. In total, Monjasa supplied 1.4m tonnes of marine fuels across West Africa in 2019.
SKS Dokka specifications:
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Photo credit: Monjasa
Published: 23 December, 2020
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