Global top 10 marine fuel supplier Monjasa has achieved a significant milestone with the successful delivery of Panama’s first-ever marine biofuels supply. The operation took place on 2 February 2025, when Monjasa delivered 900 metric tonnes (mts) of ISCC-certified marine biofuels to the NYK-operated vessel Hestia Leader at the Port of Cristobal, Panama.
This ship-to-ship operation, conducted by the Monjasa Thunder (a 19,991 dwt tanker), marks a key achievement in the establishment of a scalable second-generation marine biofuels supply chain in Panama. The setup, which is capable of supplying between 5,000 and 7,000 mts of biofuels monthly, paves the way for future biofuels operations in the region, supporting the maritime industry’s decarbonization efforts.
In alignment with Panama’s growing commitment to green initiatives, Monjasa’s biofuels supply represents a major step in reducing emissions within the shipping industry. The Panama Canal Authority recently announced the introduction of a “NetZero Slot,” designed to incentivize shipowners and operators in their pursuit of decarbonization. This move is part of Panama’s broader agenda to promote low-carbon fuels and higher energy efficiency across the maritime sector.
A Strategic Move to Support Sustainability
Jonas Bruslund, General Manager for Latin America at Monjasa, highlighted that biofuels’ introduction in Panama had faced slower progress than in major bunkering hubs such as Singapore and Rotterdam. This was primarily due to challenges such as the lack of local feedstock and limited customer commitments. However, through a strong partnership, Monjasa has successfully developed a solution by shipping biofuels from Europe to Panama, helping meet the growing demand from shipowners operating in the Panama Canal region.
Bruslund emphasized that the Panama Canal Authority’s focus on green initiatives aligns with Monjasa’s vision to contribute to the shipping industry’s decarbonization goals. “We are pleased to challenge the status quo and actively support these efforts,” Bruslund noted.
Biofuels: A Short-Term Solution for Emission Reduction
As the shipping industry strives to lower its environmental impact, biofuels present a practical and accessible solution for achieving immediate emission reductions. With increasing shipping regulations, such as the Energy Efficiency Existing Ship Index (EEXI) and the annual operational carbon intensity indicator (CII), biofuels offer a vital tool for shipowners to comply with the industry’s sustainability requirements.
Monjasa has already made strides in promoting biofuels across the Americas, with established partnerships in the ports of Callao, Peru, and Cartagena, Colombia. The company’s efforts are part of a broader strategy to support the shipping sector in meeting the International Maritime Organization’s (IMO) 2050 climate change targets.
ISCC-Certified Feedstock and Transparency
As an ISCC-certified partner, Monjasa ensures that all parties involved in the biofuels supply chain can trace the feedstock from its origin to the final consumer. For the first biofuels supply in Panama, the B30 product used consisted of 30% Fatty Acid Methyl Ester (FAME) and 70% Very Low Sulphur Fuel Oil (VLSFO), ensuring compliance with strict environmental standards.
Monjasa continues to await broader demand for biofuels, shifting from sporadic inquiries to more consistent interest. In the meantime, the company is committed to establishing a global network of biofuels supply locations to help the maritime industry meet its ambitious decarbonization targets set by the IMO.
Monjasa’s Growing Presence in Panama and Beyond
Monjasa has been active in the Panama Canal since 2015, managing a fleet of seven vessels in the region. With its headquarters in Denmark and operations spanning across Europe, the Americas, the Middle East, Africa, and Asia, Monjasa is well-positioned to continue its leadership in the bunkering industry.
The company is dedicated to providing high-quality marine fuels and services, ensuring that the shipping industry has the resources it needs to thrive while adhering to sustainability goals. Monjasa’s 2023 revenue was USD 4.4 billion, and the company delivered 6.5 million tonnes of fuel globally, reaffirming its position at the forefront of the marine fuel supply industry.
For more information on Monjasa’s biofuels services in the Americas, interested parties are encouraged to reach out to the company’s team in Panama.
Monjasa in Brief
Founded in Denmark in 2002, Monjasa has become a leading global supplier of marine fuels. With a fleet of 35 tankers and barges and more than 600 maritime specialists and traders, Monjasa operates in over 800 ports worldwide. The company’s strong commitment to compliance and quality is reflected in its ISO certifications (ISO 9001, ISO 14001, ISO 45001, and ISO 50001), ensuring the highest standards of product and service delivery.
Source Monjasa