Marine fuels supplier Monjasa has announced further expansion in Asia by commencing its first supply operations in the Port of Singapore with three tankers to be added during this year.
The company already has three offices located in Singapore, Shanghai and Ho Chi Minh City and is supplying 1 million tonnes of marine fuels across the Asian region yearly.
Through this new expansion, Monjasa aims to acquire further ownership across the industry value chain by offering end-to-end maritime logistics in the world’s largest bunker hub . According to the Maritime & Port Authority (MPA), Singapore recorded a total volume of 48 million tonnes of marine fuels supplied in 2022.
Morten Østergaard Jacobsen , Managing Director ASIA, said: “Coming from 15 years as a trading company in Singapore, Monjasa is all set to embrace this new opportunity of controlling tonnage as well. We are now taking further ownership across sourcing, shipping and supply of fuel products to continually evolve our services across the great Singapore anchorage.
“The Port of Singapore is one of the busiest and most competitive markets in the world, but we are confident that shipowners will benefit from the increased flexibility and maritime quality matching Monjasa’s global standards. The Monjasa fleet already counts 30 vessels deployed around the world, and this is the strong maritime experience we now build on here in Singapore as well.”
As part of the operations, Monjasa informed it has already deployed one tanker in full service, which is expected to be joined by additionally two tankers later this year. All three tankers are SIRE vetted and bring experienced crews when it comes to handling ship-to-ship bunkering operations in the Port of Singapore, the company claims. The Monjasa Group recently released its Annual Report 2022 which concluded with a record-high activity level and a total volume of 6.4 million tonnes of marine fuels supplied worldwide, total revenue of $5.5 billion and a net result of $171 million.
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