You are using an outdated browser For a better experience using this site, please upgrade to a modern web browser. Subscribe Get Daily Email Subscribe --> Contact Us Sign in Home News & Features Compliance Costs Bunker Prices Bunker Intelligence World News Latest Features World Americas EMEA Asia/Pacific Home News & Features World INTERVIEW: Monjasa CFO Discusses Growth and Financial Strength as Middle East Conflict Reshapes Bunker Demand INTERVIEW: Monjasa CFO Discusses Growth and Financial Strength as Middle East Conflict Reshapes Bunker Demand by Martyn Lasek, Managing Director, & Jack Jordan, Editorial Lead - Insights Tuesday May 12, 2026 Tweet Follow @shipandbunker Rasmus Ravnholdt Knudsen, CFO, Monjasa. Image Credit: Monjasa Middle East crisis driving strong demand growth in West Africa and Panama as Fujairah disruption redirects volumes 64.7% equity ratio described as competitive advantage in high oil price environments 80% of headcount growth tied to expanded in-house crew management via Montec Tokyo office part of long-term organic push into Japan and surrounding region Alternative fuel demand still falling short of expectations despite infrastructure investment With 6.8 million tonnes of marine fuel supplied across 111 countries in 2026, Monjasa sits comfortably as a regular in Ship & Bunker’s list of Top Ten of global bunker companies . “ there is definitely growth potential in the sector Rasmus Ravnholdt Knudsen, CFO, Monjasa Yet its Group CFO, Rasmus Ravnholdt Knudsen , is quick to put that in perspective. The total bunker market is estimated at around 250 million tonnes , he notes, which means Monjasa serves less than three percent of that demand. That context shapes how the Danish company approaches growth: carefully, organically, and an emphasis on being close to the customer rather than chasing scale for its own sake. With the company expecting to see its profits more than treble this year on improving margins, forecasting a net prof