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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.

Michele Labrut, Americas Correspondent

June 1, 2016

1 Min Read
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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.

About the Author

Michele Labrut

Americas Correspondent

Michèle Labrut is a long-time Panama resident, a journalist and correspondent, and has continuously covered the maritime sector of Central & Latin America.

Michèle first came to Panama as a press attaché to the French Embassy and then returned to the isthmus as a foreign correspondent in the 1980s.

Author of Seatrade Maritime's annual Panama Maritime Review magazine and of several books, Michèle also wrote for Time magazine, The Miami Herald, NBC News and the Economist Intelligence Unit. She has also collaborated in making several documentaries for the BBC and European and U.S. television networks.

Michèle's profession necessitates a profound knowledge of the country, but her acumen is not from necessity alone, but a genuine passion for Panama.

In 2012 she was awarded the Order of Merit (Knight grade) by the French Government for her services to international journalism and in 2021 the upgrade to Chevalier grade.

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