Monjasa Calls for Collaborative Approach to Meet Increasing Regulatory Demands on Bunker, Shipping Industries

Monjasa recently hosted its summit in Limassol, Cyprus. Image Credit: Monjasa

Monjasa has called for increased co-operation and joint solutions to meet the growing regulatory demands on the bunker and shipping industries.

In a report today from it's recent summit in Cyprus, Monjasa said that since 2008 more than 1,000 new regulations have been imposed on the Danish shipping industry.

"The industry is thereby growing increasingly complex and the time has come to face these challenges together," the company said.

"At a Monjasa hosted summit in Limassol, Cyprus, a group of leading Mediterranean ship owners, buyers, and operators sat down together to discuss important regulatory issues, such as the 2020 sulphur cap."

Ultimately, Monjasa believes the increasing trade regulations mean the need for an increased focus on compliance.

"For companies to be successful in the future, a very central element in this discussion relates to converging operating models based on digital end-to-end compliance workflows with existing work procedures and company culture," said Monjasa Group COO, Svend Stenberg Mølholt.

"At Monjasa, we still have some road ahead of us, but we have come a very long way in implementing these changes."

In addition to an open discussions forum, the summit saw presentations on topics including impacts from the upcoming 2020 sulfur cap, quality and quantity assurance in bunker deliveries, and insights on future energy storage and oil flow infrastructure in Cyprus.

The event also saw the official opening reception of Monjasa's new office in the region.

"With only a short distance to meet in person with the integral Greek shipping community and other important Mediterranean markets, we are positive about future developments," said Sales Manager for Monjasa Ltd. Theodoros Mitsingas.

"Both when it comes to local reselling activities and making customers more aware of the opportunities they have for taking bunkers in one of Monjasa's physical supply areas."