Monjasa, a global leader among the top 10 marine fuel suppliers, has officially acquired the vessel formerly known as the Hafnia Pegasus. The vessel has now been renamed Monjasa Master and is set to significantly bolster the company’s marine fuel operations in the Middle East.
Enhanced Operational Flexibility with New Tanker
The Monjasa Master, with a deadweight tonnage (DWT) of 50,391, has now become the largest tanker in Monjasa’s Middle Eastern fleet. It will primarily function as a floating storage unit, loading cargo in Fujairah, UAE, and then distributing it across other Monjasa tankers operating in the Arabian Gulf. This acquisition provides Monjasa with enhanced maritime flexibility, as it increases the overall carrying capacity of the fleet while reducing the number of loading operations required, thereby improving operational efficiency.
Casper Borgen, the Trading Director for Middle East & Africa at Monjasa, expressed his enthusiasm about the new addition to the fleet. “The Monjasa Master significantly strengthens our ability to serve our customers and partners in the Middle East,” he said. “With its increased carrying capacity and fewer loading operations, she extends our overall maritime flexibility significantly.”
Transformative Drydocking Process for Monjasa Master
The acquisition was made possible thanks to a smooth sales process and vessel delivery from Hafnia, which Monjasa thanked for their professionalism.
Torben Maigaard Nielsen, Monjasa’s Group Shipping Director, emphasized the company’s commitment to quality tonnage, stating, “We only accept quality tonnage into our tanker fleet. Together with our close collaboration with Montec on technical ship management, we continue to open new opportunities for our maritime partners.”
Before taking on its new role, the Monjasa Master underwent a comprehensive drydocking process at the Arab Shipbuilding and Repair Yard in Bahrain. During the drydocking, the tanker was transformed into Monjasa’s signature colors and fitted with specialized modifications to meet the company’s rigorous standards.
Key Details of the Monjasa Master Tanker:
- Year Built: 2010
- Flag: Liberia
- Length Overall (LOA): 183 meters
- Beam: 32 meters
- IMO Number: 9461659
The Monjasa Master now joins a regional fleet that consists of five oil and chemical tankers, ranging from 8,000 to 50,000 DWT, and will play a crucial role in meeting the growing demand for marine fuels in the Middle East.
“We wish fair winds and following seas to everyone onboard,” Monjasa concluded in its announcement, reaffirming its commitment to safety, efficiency, and customer satisfaction.
Monjasa’s Global Positioning in the Marine Fuel Sector
Monjasa is recognized as one of the world’s top 10 marine fuels suppliers, commanding a fleet of 33 tankers and barges operating across the globe. The company’s continued expansion in key maritime markets is a testament to its commitment to innovation and excellence in the marine fuel industry.
Founded in Denmark in 2002, Monjasa has rapidly expanded to become a global player in the marine fuel and shipping sectors. With over 600 maritime specialists on its team, Monjasa reported a revenue of USD 4.4 billion in 2023, equivalent to 6.5 million tonnes of marine fuels supplied. The company operates across all major time zones with a presence in Europe, the Americas, the Middle East & Africa, and Asia, and services over 800 ports worldwide. Their fleet, which includes around 30 tankers and barges, is a key element of their presence in prominent shipping hubs, as well as hard-to-reach markets in regions like Singapore, West Africa, Panama, the USA, Northwest Europe, and the Middle East.
Monjasa is committed to maintaining the highest industry standards, which is reflected in its ISO certifications, including ISO 9001, ISO 14001, ISO 45001, and ISO 50001. All of their oil products meet the latest ISO 8217 specifications, positioning Monjasa as a trusted partner for quality bunker fuels.
Monjasa’s Robust Financial Performance and Industry Leadership
Financially, Monjasa is one of the strongest players in the global bunker industry, with a consolidated equity of USD 411 million and a solvency ratio of 53%, further reinforcing the company’s position as a solid and reliable partner in the maritime sector.
Monjasa’s Strategic Vision for Future Growth
Monjasa’s continued investment in its fleet and infrastructure, including the acquisition of the Monjasa Master, is a clear indication of its strategy to maintain a competitive edge in the dynamic marine fuel supply market. With its expanded fleet and ongoing commitment to high-quality services, Monjasa is well-positioned to meet the growing demands of the global maritime industry, particularly in the vital Middle Eastern region.
Source Monjasa