Image credit: Monjasa

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Monjasa says it expects to achieve a marine fuel volume increase of 200,000 metric tonnes in 2019 at its new supply location in Djibouti.

Monjasa's Djibouti bunkering operation is now fully operational and offers a range of fuel grades that are said to meet ISO 8217:2010 specifications.

In the new set-up, where Monjasa has teamed up with a local partner, fuel products are imported using Handysize tankers that also act as floating storage for the operation. Currently, the 40,000-deadweight-tonne (dwt) Karen Maersk is being used for this purpose.

Disrupting the 'status quo'

Included in the bunker supplier's business model is the objective to build niche markets and offer ship owners and operators valid alternatives to refuelling in the world's traditional hubs.

In Djibouti, Monjasa is aiming to challenge what it describes as the "status quo" in the Red Sea region and provide an alternative to the traditional bunkering locations of Suez and Jeddah.

"Strategically located at the mouth of the Red Sea, Djibouti is fast developing into an attractive bunker destination on the busy Suez waterway. Improved maritime infrastructure and heavy investments in port developments are expected to further advance trade going in and out of Northeast Africa in the future," Monjasa notes.

On the issue of security in the Gulf of Aden, Monjasa says the situation is improving and that there are therefore new opportunities for both service companies and shippers operating in the area.

"We are determined to demonstrate Djibouti as a competitive and high-quality refuelling option on this important sea route," declares Group COO, Svend Molholt.

New banking partner

Monjasa has also welcomed trade finance bank UBAF as its new regional banking partner for its Northeast African operations.

"With Credit Agricole as its main shareholder, UBAF holds a high global credit rating. Coupled with its 45 years of experience financing businesses in the Middle East and Africa region, we see a lot of synergies in this new partnership," remarks Rasmus Knudsen, Group Director, Legal and Treasury.

As previously reported, last month Monjasa also presented JP Morgan as its new banking partner in the US.