EnergyWatch

Monjasa books "very unsatisfactory" loss in West Europe

Monjasa's West Europe activities booked a "very unsatisfactory" result for 2017, in a year characterized by fierce competition in the bunker market. 2018 does not look set to be much better, says the company in its financial report.

Photo: Monjasa

There is fierce competition among the bunker companies these years in a market strained by higher oil prices and lower cargo volumes.

These three factors contributed to a weak 2017 for Monjasa A/S, according to the financial report for the Danish bunker company's businesses in West Europe, which consist mainly of bunker terminals in Skagen, Denmark and in Portland by the English Channel. Both terminals have a bunker vessel in pace to service each region.

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