Monjasa Sees Revenues Rise 16% in 2014

by Ship & Bunker News Team
Wednesday June 3, 2015

Monjasa Group (Monjasa) Tuesday announced that despite "tough market conditions," for 2014 it saw a 16 percent in revenue to DKK 14.2 billion (USD 2.1 billion) compared to DKK 11.9 billion (USD 1.8 billion) in 2013.

"Overall, the financial year 2014 was characterised by strong competition in some of the Group core markets and a global shipping market still struggling hard to recover from the financial crisis," Monjasa said.

The Group management called the growth "satisfactory," which it attributed primarily to the "increased global sale of oil products."

Also in 2014, Monjasa noted 150 new global employees joined the group, a rise of 20 percent, taking it to a total of 583 employees throughout its oil trading, tanker, and offshore operations.

"A main driver behind this positive development is the increasing employment of bunker traders, maritime experts and administrative staff," said Monjasa.

The supplier noted it also increased its fleet of bunker tankers to 28 compared to 24 in 2013.

Looking ahead, Monjasa said it "expects continuing highly competitive market conditions throughout 2015," but nevertheless remains positive and predicts "another year of investments in expanding global shipping and oil trading activities."

In March, former Maersk Oil CFO Kenneth Henriks joined Monjasa as its new Group CFO.

Ship & Bunker News Team
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