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Monjasa Group delivers solid performance in 2015

Monjasa Group delivers solid performance in 2015
The Denmark-based global oil and shipping company Monjasa has posted a solid performance across business units in the financial year of 2015 and saw an increase in net profit.

Monjasa maintained its top quartile position amongst the most solid bunker companies in the world, it said in a statement.

Despite difficult global shipping market conditions, global oil and bunker trader Monjasa succeeded in growing the total supply of oil products by 7%, up from 3.9m to 4.1m metric tonnes with a tanker fleet of 28 units. The growth was obtained through reselling as well as through physical supply activities.

The group posted revenue of $1.6bn down from $2.2bn a year before, operations of $30m, down from $35m in 2014 but registered net profits of $24m up from $22m the previous year.

In particular, Monjasa gained market shares in bunker oil activities in Latin America and consolidated its prominent position in West Africa. Furthermore, a cautious launch of oil trading activities has solidified the growth and performance in the physical supply activities.