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Monjasa focuses on Latin American emerging markets

Monjasa focuses on Latin American emerging markets
Global oil and bunker trader Monjasa Group is growing its Latin American client and supplier base.

The Denmark-based group with experience across the Middle East and West Africa and Southeast Asia, is now looking at Latin America, more precisely Colombia and Mexico.

The Mexican energy reform bill, passed a year ago, is expected to boost the country’s demand for marine fuels over the next five years. Both import and export of oil products are expected to increase significantly with a growing offshore client segment as a direct result.

“We have been active in Mexico since the opening of our US office in Stamford in 2011. Up until 2014, Monjasa’s primary focus had been on the west coast of Mexico, but recently our eyes have been on market developments in the Gulf of Mexico as well. This is truly a large-scale market, and Monjasa is supplying the international shipping market here as well as domestic clients,” said Monjasa Americas md Rasmus Jacobsen.

Monjasa’s interest in Latin American markets does not end here. South of Panama, Monjasa is going on its third year of heavy involvement in the Colombian bunker market. Further, during 2016, Monjasa expects to expand its office space in Panama City from today’s 20 to approximately 40-45 employees.

“Following Monjasa’s launch of bunker services in both Pacific and Atlantic port areas, we are fully convinced that we are able to make a difference for clients in this still emerging Colombian market. With our vast experience from hard-to-reach markets in the Middle East and West Africa, we have all the right ingredients to continue to develop excellent supply services in Colombia,” he added.