Image Credit: Monjasa

Global marine fuel supplier and trading firm Monjasa has been one the most successful firms in the bunker industry in recent years.

The firm was founded in 2002 in Kolding, Denmark, by Anders Østergaard and Jan Jacobsen, starting with a small office focused on bunker trading.

The company has since rapidly expanded and now has 16 offices around the world, a fleet of 33 vessels and carries out almost 16,000 supply operations per year at 784 ports around the world. The firm is fully owned by its Dubai-based Group CEO, Østergaard.

Sources indicate the company saw volumes little changed on the year at about 6.8 million mt in 2025. But this follows several years of consistent growth; the company's volumes have jumped by almost 40% since 2020.

As in previous years, sales volumes remained roughly equally split between trading and physical supply.

In 2024 the geographical split of its volumes saw about 35% sold in the Americas, 33% in the Middle East and Africa, 24% in Asia, 6% in Northwest Europe and 2% in the Mediterranean.

The firm's revenues stood at $4.5 billion in 2024, up from $4.4 billion the previous year. Net profits slipped to $65 million from $109 million the previous year, while still remaining the third-largest in the company's history.

The company has said it expects 2025 net profit to fall in the $30-60 million range, which would make it the fourth-highest result in its history.

2025 Developments

In 2025 Monjasa became the first company to supply biofuel bunker blends in Panama, making its first sales in March with biofuel sourced from Northwest Europe. The firm has since reported relatively slow sales of the new grade, but expects to see a gradual expansion of demand as regulatory incentives to decarbonise are added.

The company also launched the first ever LNG bunker operation in the UAE at the start of 2025, using the delivery vessel Green Zeebrugge. Later in the year the company said it was reevaluating this operation, waiting for better market conditions and narrower price spreads between LNG and conventional bunkers.

In February 2025 Monjasa announced an expansion to Japan, opening an office in Tokyo with two senior traders.

With a record number of applications for its traineeships – the Monjasa Oil & Shipping Trainee (MOST) programme - the company continues to offer one of the industry's most popular career paths for young candidates. A total of nine new trainees across seven global locations joined Monjasa during the summer of 2025.

In October 2025 the company announced it had been awarded a contract to supply fuel to NATO. Monjasa will provide fuel over five areas of operation, with the contract running for a year with the option to extend it by two additional years. Monjasa will act both as reseller and through its own fleet operations.

At the end of 2025 Monjasa made the decision to shift crew management on its fleet of delivery vessels to an in-house basis, after sister company Montec expanded its crew management capabilities for both officers and cadets. The company also signed three new maritime partnerships to help train its crews: with the International Maritime University of Panama (UMIP) and the Escuela Naval de Cadetes "Almirante Padilla" (ENAP) in Colombia, and  a cadetship program initiative between Monjasa, Montec and the Namibian Maritime and Fisheries Institute (NAMFI) in Namibia.

And at the start of 2026 the company signed a five-year cooperation agreement with the Panama Canal Authority. Under the agreement the two parties will work together on targeted projects in environmental protection, comprehensive well-being, culture, community development, and education.