Monjasa achieved a record-high consolidated equity of USD 472m and a robust 64.7% equity ratio in 2025, fortifying its balance sheet despite a muted global demand environment. While net profit moderated to USD 39m, the Group optimized its fleet and expanded its global footprint with a new office in Japan and the full integration of in-house crew management. Leveraging this financial resilience, Monjasa has issued a bullish 2026 outlook, projecting a surge in net results to USD 120m–150m amid shifting global trade flows and heightened market dynamism.
Copenhagen | April 29, 2026 – Monjasa Holding A/S has unveiled a 2025 financial performance defined by structural strengthening and operational stability. While a “muted” global demand landscape pulled net profits back from previous record highs, the Group’s ability to scale its operational reach while narrowing its physical fleet signals a new era of capital efficiency.
The Group reported a net profit of USD 39m for 2025. However, the headline figure is eclipsed by a significant internal victory: Monjasa has reached its highest-ever consolidated Group equity at USD 472m, pushing its equity ratio to a formidable 64.7%. This “war chest” positioning arrives just as the bunker markets enter a period of extreme volatility following the geopolitical eruptions of early 2026.
Efficiency Over Scale: 16,741 Operations
Despite a year of modest global trade growth, Monjasa’s activity levels actually intensified. The Group moved 6.8 million tonnes of marine fuel, on par with 2024, but did so through a record 16,741 successful supply operations.
Remarkably, this increased activity was achieved with a leaner, more agile fleet. Monjasa ended the year with 28 vessels (down from 33), demonstrating an impressive increase in vessel utilization and logistics optimization across 877 ports worldwide.
“We are satisfied with our financial performance in a year where global trade grew modestly,” said Monjasa Group CEO, Anders Østergaard. “For Monjasa, this meant an overall muted global marine fuels demand. In such a year, we are pleased to strengthen our balance sheet and position ourselves well for future opportunities.”
Strategic Expansion: From Tokyo to the High Seas
The year was marked by a clear focus on deepening Monjasa’s global footprint and internalizing its supply chain:
- Far East Foothold: The Group opened its 15th international office in Japan, closing the gap in its North Asian service network.
- Vertical Integration: Through its technical management subsidiary, Montec, Monjasa fully integrated crew management. By taking direct responsibility for its 745-strong workforce on land and at sea, the Group has insulated its operations from global labor volatility.
- Regional Strength: Volumes remained balanced globally, with the Americas and Middle East & Africa each accounting for roughly one-third of total business.
2026 Outlook: A Triple-Digit Surge
The contrast between 2025’s “stability” and 2026’s “dynamism” is stark. Following the Middle East crisis in late February 2026, global trade flows have shifted toward longer voyages and higher tanker demand.
Monjasa reports that these imbalances are creating a “highly dynamic” market. Consequently, the Group has issued a remarkably bullish forecast for 2026, projecting a net result in the range of USD 120m–150m, a potential 300% increase driven by the very financial resilience built during 2025.
Monjasa 2025: Data at a Glance
| Financials & Operations | 2025 Performance | 2024 Comparison |
| Total Revenue | USD 4.0bn | USD 4.5bn |
| Consolidated Equity | USD 472m | USD 444m |
| Equity Ratio | 64.7% | 55.6% |
| Total Supply Ops | 16,741 | 15,870 |
| Global Ports Served | 877 | 800+ |
| Global Workforce | 745 | 678 |
The “Safe Haven” Strategy
For shipowners navigating the 2026 crisis, Monjasa’s 64.7% equity ratio is more than just a number, it is a signal of counterparty reliability. In an industry where credit is king, Monjasa’s fortress balance sheet allows it to act as a liquidity anchor for its partners. By choosing to “right-size” its fleet while expanding its office network, Monjasa has successfully transitioned from a traditional bunker supplier to a high-tech global logistics partner.
About Monjasa
Established in Denmark in 2002, Monjasa has evolved into a global top 10 marine fuels supplier. The Group operates as a specialized partner in the oil and shipping industries, focusing on the physical supply and trading of marine fuels, underpinned by extensive ship-owning and technical management activities.
In 2025, Monjasa reported a total revenue of USD 4 billion, executing a record 16,741 supply operations annually. With a global workforce of 745 specialists, the company operates from 15 international offices across Europe, the Americas, the Middle East, Africa, and Asia, including its newest location in Tokyo, Japan. Monjasa’s fleet currently consists of 28 tankers and barges, enabling a presence in 877 ports worldwide, including major hubs like Panama, Northwest Europe, and the Middle East.
Monjasa is recognized for its exceptional financial strength, boasting an all-time high consolidated equity of USD 472 million and an industry-leading equity ratio of 64.7%. The company holds a comprehensive suite of ISO certifications (ISO 9001, 14001, 45001, 50001, and 27001), underscoring its commitment to quality, safety, and environmental stewardship in an evolving global energy landscape.
Source: Monjasa