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Monjasa has shut down London oil venture

Bunker group Monjasa has halted its ambitions in shipping larger oil cargoes, a venture which was launched two years ago. An office in London dedicated this venture has been shut down. We want to focus on our core business, the group's COO tells ShippingWatch.

Photo: /ritzau/Joachim Ladefoged
BY NIKLAS KRIGSLUND, SHIPPINGWATCH

Danish bunker group Monjasa has halted its oil trading venture in London as it failed to deliver the expected returns.

Two years ago the company decided to enter the market for trading oil cargoes rather than just trading bunker fuel for vessels. As such, Monjasa hired three high-profile brokers for a newly established office in London.

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