World News
Monjasa Announces New $80 Million Credit Facility
Monjasa Group (Monjasa) Tuesday announced it has established a new $80 million credit facility with Société Générale S.A. (Société Générale).
The new facility was said to be an important part of it's diversification efforts, which last year saw it move into oil trading - a move that ultimately supports its bunker business.
"By seizing control of the oil products and logistics at an earlier stage, Monajsa is increasing reliability and efficiency of its worldwide physical supply of marine fuels," said Monjasa.
Kenneth Henriks, Monjasa Group CFO commented: "Monjasa has grown considerably over the past years and we have gone from being a regional bunker company to a global diversified trading group. Our financing model is important for this development and decisive for offering our business partners the global services and efficiency they expect.
"Therefore, we have been very determined to obtain this deal and today I am delighted to introduce a new $80 million credit facility arranged by Société Générale."
Monjasa notes the credit facility is already operational.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 570.00 | 1.00 | 683.00 | 2.50 |
| Rotterdam | 515.50 | 1.00 | 685.00 | 7.50 |
| Houston | 555.00 | 1.00 | 678.00 | 1.00 |
| Fujairah | 563.00 | 2.00 | 754.50 | 0.50 |
| Global 20 Ports Average | 587.50 | 1.50 | 765.00 | 0.50 |
| Global 4 Ports Average | 551.00 | 1.00 | 700.00 | 1.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 812.50 | 1.00 |
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