EMEA News
Monjasa Closes London Office, Opens New Office in Cyprus to Focus on Core Bunker Business
As part of efforts to focus on its core bunker business in response to ongoing tough market conditions, Monjasa earlier this year decided to slow down its oil cargo trading activities, which were a new area of business in 2015 and 2016, the company has told Ship & Bunker.
As a result, Monjasa says it has closed its presence in London where it had a team of three brokers stationed, and now looks to sublet its UK office in the near future.
"After experiencing extremely difficult global shipping markets in 2016 and an unsatisfying annual result, we are concentrating on developing our core business, which composes selling, buying and delivering of bunkers," said Group COO, Svend Stenberg Mølholt.
"This year, we are again seeing positive financial results and this demonstrates that our core business is healthy and that the proactive adjustments we have put in motion are paying off."
At the same time Monjasa says it wants to maintain a "strong focus on bunker trading and supply" and has welcomed a new bunker trading office in Limassol, Cyprus.
On June 8, 2017 the company hosted the official opening reception for its newest office.
"From this office, a five-man team of bunker traders are looking to add further value to Monjasa's personal service towards the important Greek shipping community and surrounding Mediterranean markets," said Monjasa.
Contact details for the new Monjasa office are as follows:
Monjasa Ltd
Metis Tower 363
28th October Ave
3rd Floor, Office 302
3107 Limassol, Cyprus
cyprus@monjasa.com
