Monjasa Holding notes setback from dire shipping market

Difficult market conditions for customers and a low oil price took a toll on Monjasa Holding as revenue declined in 2015. The result remained at the same level as in 2014 and overall the company is pleased with the year, Kenneth Henriks, Monjasa Group CFO, tells ShippingWatch.

The dark clouds in shipping are now casting a shadow on Denmark's Monjasa Holding which covers several companies and is mainly known for its bunker business.

In 2015 the company's revenue declined to USD 1.6 billion down from USD 2.5 billion in 2014. The net result, however, increased from USD 22.3 million in 2014 to USD 23.7 million last year. According to Kenneth Henriks, Group CFO at Monjasa, the company is overall pleased with the annual report for 2015, he says in a comment in ShippingWatch.

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