Monjasa Bunker Volumes Up 60% Across Americas

by Ship & Bunker News Team
Monday November 5, 2018

Monjasa has witnessed over 60% growth for its bunker sales volumes across the Americas, the supplier and trader revealed today.

The sales volume in 2016 was 400,000 metric tonnes (mt), rising to to 650,000 mt in 2017.

The growth has been helped by the establishment of a physical presence for operations and bunker trading in Panama City in 2015, with the country having enjoyed growing volumes in recent years.

“By sourcing oil products exclusively from the largest commodity trading houses and introducing customers to an operating model backed by ISO standards, it has been possible to establish a prominent position as physical supplier in the Panama Canal,” says Monjasa.

In a related move, Monjasa says it has now added J.P. Morgan Chase Bank N.A. to the Group’s banking pool.

“This new credit agreement caters for Monjasa’s working capital needs in relation to our growing US business and is fully in line with the Group’s ambition to partner up with top tier trade finance banks,” says Rasmus Knudsen, Head of Treasury and Trade Finance.

Monjasa said the new credit agreement is already operational and for commercial reasons and will not be issuing further details.