Apr 15 2021 Monjasa Holding managed to successfully navigate the disrupted global fuel markets in 2020. The year concluded with a 9% increase in total volumes and a net profit of USD 30m. Adapting to a year of great contrasts 2020 was a year of great contrasts for Monjasa. The year commenced with a successful IMO 2020 transition to more environmentally friendly marine fuels across the oil and shipping industries. By offering a safe port for customers throughout this anticipated industry event, Monjasa experienced a high activity level across all markets.
The remainder of the year was characterised by disrupted maritime trade flows following the evolving COVID-19 pandemic. As a direct consequence, the global market for marine fuels decreased substantially. Despite this overall development, Monjasa’s services and products were more in demand than ever and Monjasa recorded an increase in volumes in each month of 2020 compared to 2019 levels.