Monjasa posted a net profit of $39m for 2025, while consolidated group equity rose to a record $472m.

The Denmark-headquartered marine fuels supplier sold 6.8 million tonnes during the year, matching its 2024 volume despite muted demand and a weaker tanker market, according to its annual report.

Revenue came in at $4bn, down from $4.5bn a year earlier, while earnings fell from $65m. Even so, the group’s equity ratio improved to 64.7% from 55.6%.

Group CEO Anders Østergaard said: “We are satisfied with our financial performance in a year where global trade grew modestly and where momentum weakened as the year progressed. For Monjasa, this meant an overall muted global marine fuels demand. In such a year, we are pleased to keep evolving our global team of colleagues on land and at sea, strengthen our balance sheet and position ourselves well for future opportunities.”

Across 2025, Monjasa completed 16,741 supply operations in 877 ports, up from 15,870 the year before.

Its tanker fleet stood at 28 by year-end, compared with 33 in 2024, with the business maintaining a mix of owned and chartered tonnage to respond to market conditions.

During the year, the group opened its 15th international office in Japan and also decided to bring crew management fully into its core activities through its technical ship management arm, Montec.

Headcount, meanwhile, increased to 745 from 678.

Looking ahead, Monjasa expects a 2026 net result of $120m-$150m, citing disrupted trade flows, firm tanker markets and supply-demand imbalances following the Middle East crisis that erupted in late February.

Monjasa is a Denmark-headquartered physical bunker supplier and marine fuel trader with offices across Europe, the Middle East, Africa, Asia and the Americas.

Monjasa’s full 2025 annual report is available here.