Monjasa to Expand Panama, Mexico, Other Latin America Bunker Markets

Mexico, Panama, and Colombia were named as Latin America markets of particular interest.

Monjasa today announced plans to grow its Latin America client and supplier base, naming Mexico, Panama, and Colombia as markets of particular interest.

"Vast experience from hard-to-reach markets in the Middle East and West Africa, gives Monjasa a clear indication of developing excellent supply services in Latin America," the supplier said.

For Mexico, over the next five years Monjasa expects the country's demand for marine fuels to get a boost from a new Mexican energy reform, and both the import and export of oil products are expected to increase significantly along with a growing offshore client segment as a direct result.

"We have been active in Mexico since the opening of our US office in Stamford in 2011. Up until 2014, Monjasa's primary focus had been on the west coast of Mexico, but recently our eyes have been on market developments in the Gulf of Mexico as well," said Rasmus Jacobsen, Managing Director for Monjasa Americas.

"This is truly a large-scale market, and Monjasa is supplying the international shipping market here as well as domestic clients."

Elsewhere in the Latin America markets, the supplier notes a "third year of heavy involvement in the Colombian bunker market" and later this year expects to expand its office space in Panama to accommodate approximately 40-45 employees, up from around 20 at present - although the supplier has told Ship & Bunker it does not expect to reach that many employees in Panama this year.

"Following Monjasa's launch of bunker services in both Pacific and Atlantic port areas, we are fully convinced that we are able to make a difference for clients in this still emerging Colombian market," said Jacobsen.

"With our vast experience from hard-to-reach markets in the Middle East and West Africa, we have all the right ingredients to continue to develop excellent supply services in Colombia."

In November Last year Monjasa also started bunkering services at UK's Portland Port, after taking over a terminal formerly belonging to Aegean Marine Petroleum.