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Monjasa doubles line of credit

Monjasa doubles line of credit
Bunker fuel supplier and trader Monjasa Group has extended its financial capacity by nearly doubling its existing credit facilities.

The renewed facility is a committed borrowing base revolving credit. The facility is structured and arranged by ABN AMRO Bank as coordinator and agent, introduced to Monjasa as a new global partner.

The recent agreement comprises collaboration with long-term Scandinavian financial partners Sydbank and Nordea.

Denmark’s Monjasa has thereby secured what it believes to be a modern and agile financial platform for it to continue its growth within the shipping and oil industry.

The new working capital is expected to enables the company to continue focusing on its core business, including oil trading and supply, terminal operations, agency, and ship-owning activities on a global level.

Kenneth Henriks, group chief financial officer at Monjasa, said: “I am delighted to announce these extended credit facilities and I warmly welcome the future collaboration with ABN AMRO Bank. We appreciate the vote of confidence in the bunkering industry and in particular in Monjasa’s business model and leading position within compliance.”