Image credit: Monjasa

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Monjasa has strengthened its marine fuel operation in the Middle East with the addition of the oil and chemical tanker Monjasa Server.

The 9,600-deadweight-tonne (dwt) vessel, which was acquired from Golden-Agri Stena, is set to start carrying out cargo and bunkering operations along the eastern coast of the Arabian Peninsula from November.

Equipped with deepwell pumps and five tank segregations for the storage of multiple fuel grades, the Monjasa Server increases the supplier's operational flexibility. It handles demand for transporting oil cargoes from the Fujairah bunkering hub to the key ports of Dubai, Abu Dhabi and Sharjah, as well as performing ship-to-ship refuelling operations.

Balancing a fleet of owned and chartered tankers

The latest vessel addition joins Monjasa's four other tankers carrying out bunkering operations in the Middle East, ranging between 4,000 and 10,000 dwt.

Overall, Monjasa controls some 20 tankers globally, of which 11 are fully owned.

The Danish group says it aims to have the right mix of chartered and owned tankers to ensure both operational and financial flexibility.

Commenting on the firm's overall strategy regarding the ownership of maritime logistics, Group CEO Anders Østergaard explained: "During the past years, we have actively pursued additional ownership of the supply chain through an increasing percentage of owned tonnage across our fleet.

"We have seen how the IMO 2020 sulphur cap sparked further market interest in how the new fuel products are being sourced, shipped and supplied. This most recent acquisition fits well with our ambitions and matches market demand in terms of cargo capacity and high technical specifications."

Positive performance figures

In its annual report for 2019, Monjasa posted a net profit of $26.5m, an increase in revenue to $2.19bn, a 9.8 percent jump in supply volume to 4.5m tonnes, and a rise in consolidated equity to $135m.

The bunker seller delivered 600,000 tonnes of marine fuel across the Middle East last year - equivalent to 13 percent of its total volume - whilst the region's key port of Fujairah was ranked fifth in Monjasa's list of top-selling ports.

M/T Monjasa Server specifications

Type: Oil and chemical tanker
Year built: 2009
Dwt: 9,600
LOA: 117.60m
Beam: 19m