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Bunker trading company Monjasa has entered into an agreement with the Port of Skagen for the construction and operation of a tank terminal for marine fuels, which will be utilized for the supply of bunkers to vessels in and around the Danish port.

Both entities entered into the agreement on Monday, 21 January. The deal means that the Port of Skagen will construct the terminal facility and Monjasa will lease and operate the tank terminal.

Commenting on the agreement, Willy Bent Hansen, Director of the Port of Skagen, said: "This is a result of a long-term and strategic effort to develop new business segments, creating growth and supporting the port’s core business within the fishery sector. The Port of Skagen has for several years been working towards port development in order to create a foundation for growing new activities.

"The agreement and the future activity is a central part of the port’s business plan for the coming expansion of the Port of Skagen, which we are working on intensively. The agreement with Monjasa supports the creation of a solid basis for the coming port expansion and will onwards create revenues for a number of the port’s service companies."

Jan Jacobsen, CEO of Monjasa, commented: "Our company has a goal of creating an increased market share in the bunker market in and around Skagen. The Port of Skagen is considered to be particularly well positioned geographically and for that reason has a good platform to develop business inside and outside the port area."

Jacobsen added that the timing of the agreement appeared to be optimal as the commercial shipping markets have recently been showing signs of recovery. In addition, he said that there was also the possibility of extending the cooperation with the Port of Skagen for the benefit of both parties and that Monjasa had 'great expectations' in terms of what the company will be able to achieve in the Scandinavian region with a base in Skagen.

The technical work on the design and approval of the installation is expected to begin in the near future. The tank installation is scheduled to be completed in 2014.

Image: Monjasa CEOs Jan Jacobsen (right) and Anders Oestergaard (second from left), together with Port of Skagen’s Chairman, Werner Broberg (second from right) and Director of the Port of Skagen, Willy Bent Hansen (left).