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Bunker firm Monjasa says it is growing its client and supplier base in Latin American, particularly in Mexico and Colombia.

The company indicates that it will use its experience in what it describes as "hard-to-reach markets in the Middle East and West Africa" to develop its supply services in the Latin American market.

In Mexico, a new energy reform is expected to boost the country's demand for marine fuels over the next five years. Both imports and exports of oil products look set to increase significantly with a growing offshore client segment as a direct result.

"We have been active in Mexico since the opening of our US office in Stamford in 2011. Up until 2014, Monjasa's primary focus had been on the west coast of Mexico, but recently our eyes have been on market developments in the Gulf of Mexico as well. This is truly a large-scale market, and Monjasa is supplying the international shipping market here as well as domestic clients," commented Rasmus Jacobsen, Managing Director for Monjasa Americas, in a statement.

Monjasa says it is now in its third year of "heavy involvement" in the Colombian marine fuels market.

"Following Monjasa's launch of bunker services in both Pacific and Atlantic port areas, we are fully convinced that we are able to make a difference for clients in this still emerging Colombian market. With our vast experience from hard-to-reach markets in the Middle East and West Africa, we have all the right ingredients to continue to develop excellent supply services in Colombia," Jacobsen remarked.

Also, during 2016, Monjasa expects to expand its office space in Panama City to accommodate approximately 40-45 employees, up from around 20 at present, "although we do not expect to reach that many employees in Panama this year," the company points out.