Monjasa Appoints New COO

Group consolidation is said to be "top of agenda" for new Group COO Svend Stenberg Mølholt: Image Credit Monjasa

Monjasa Holding A/S (Monjasa) today has announced the appointment of Svend Stenberg Mølholt as its Group Chief Operating Officer with immediate effect.

Mølholt was previously Business Development Manager for the global bunker player, and has also held previous positions with global shipping and logistics firms including A.P. Moller-Maersk Group.

"I am of course excited to take on this new challenge. In the coming years we will be looking to further consolidate the Monjasa Group in the oil and shipping industry. In this process, my primary responsibility is to enable all business units in servicing their customers and markets at their best," said Mølholt.

"This includes establishing the right operational and organisational backbone across the Group. In particular, I am looking forward to focusing my efforts on aligning corporate strategies, goals and performance across the Monjasa Group while overseeing Group HR, Legal & Advisory and Credit Management functions."

Monjasa says the appointment of a Group COO was "a natural step forward" as it "has developed into a more diversified trading group," noting total revenue of $2.5 billion in 2014 along with five million tonnes of oil products supplied.

"The Group has to stay ahead of the curve and adapt the right global organisational structures," said Monjasa.

"The new structure will enable the Group in capitalising on one of the most important resources, its employees, by further exploiting synergies across the organisation."

Anders Østergaard, Group CEO at Monjasa Holding, commented: "Today, our core business includes bunker fuel supply, oil trading, terminal operations, agency, and ship-owning activities and we are operating eight global offices in all major time zones. We are privileged to run a one brand name business and thereby creating value for our stakeholders through our global brand promise 'We are Monjasa in every port'."

"However, this highly transparent market approach also demands a lot from our organisation as we work worldwide on the same set of terms, standards and ISO-certifications. Our clients and business partners must always receive the same benefits and service levels no matter where in the world we do business.

"Therefore, we need to further strengthen our corporate backbone and Svend Stenberg Mølholt's professional and personal profile matches Monjasa's aspirations and values perfectly. We are confident that this newly established position will immediately strengthen our global activities."

Last month Ship & Bunker reported that Monjasa had announced plans to grow its Latin America client and supplier base, naming Mexico, Panama, and Colombia as markets of particular interest.