World News
Monjasa Bunker Sales Hit New Record High as Profits Slip
Global bunker supplier and trading firm Monjasa saw a rise in marine fuel sales for a fifth consecutive year in 2021 while profits declined.
The firm delivered 5.7 million mt of bunker fuels last year, up by 16.3% from the 4.9 million mt sold in 2020, it said in an emailed statement on Thursday. The company's total supply operations grew by 3.9% to 12,266 deliveries, meaning its average stem size climbed by 12% on the year to about 465 mt.
Monjasa is among the firms listed in Ship & Bunker and SeaCred's Top 10 Bunker Companies for 2022 report.
The firm's revenues surged by 60% on the year to $3.2 billion dollars. Global average bunker prices ended the year at $631/mt, according to Ship & Bunker's G20 Index of prices at 20 leading bunkering ports, up by 49.7% from the end of 2020, meaning the total amount of money the bunker industry deals in has grown to a similar degree.
But profit margins appear not to have surged along with bunker and crude prices. Monjasa's net profit sank by 26.7% to $22 milliion last year, the lowest level since 2018.
"Above all, we are very satisfied with our continuous positive financial results, also considering recent years' volatile global trade environment," Anders Østergaard, CEO of Monjasa, said in the statement.
"Our steady performances allow us to keep evolving our business around what we know best, which is providing maritime logistics and making our business personal across shipping communities in every port.
"Looking ahead, Monjasa will continue to observe and navigate the markets around us and use our experience to match supply and demand throughout the volatile and turbulent markets and structures."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 567.50 | 3.50 | 700.00 | 14.50 |
| Rotterdam | 512.50 | 4.00 | 695.00 | 17.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 562.50 | 2.50 | 755.00 | 0.00 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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