Danish bunker and tanker group Monjasa has strengthened its corporate governance by promoting Rasmus Ravnholdt Knudsen to the role of group chief financial officer.

He steps up from group vice president after joining the company in 2013.

Monjasa said the new finance chief will play a "further important role in ensuring continuous robust corporate governance" across oil, shipping, offshore logistics and IT consultancy operations.

"Since his accession to the top management in 2019, Rasmus has contributed significantly to the strategic and financial development of Monjasa becoming a global top 10 marine fuels supplier."

The role as group CFO requires a deep understanding of the business, as well as industry complexities arising from global maritime operations, the company argues.

Knudsen will oversee financial reporting, trade finance and business intelligence.

"In addition, considering Rasmus' background in law, he will continue to hold responsibility [for] Monjasa's legal department," Monjasa said.

Legal background

The new role forms part of the executive management team with chief executive Anders Ostergaard and chief operating officer Svend Stenberg Molholt.

Knudsen began his working life as an assistant attorney-at-law in 2012, but decided to pursue a career in oil and shipping with Monjasa the year after.

He started as legal counsel and became vice president in 2020.

In November, Monjasa brought in two of its experienced traders from Cyprus to set up an office in Athens.

Trading director Christos Doulaveris and senior trader Minas Tsokopoulos have established the base to meet increasing demand across the Mediterranean.

Doulaveris has been with Monjasa since 2016, after running fleet operations for Star Bulk Carriers, Product Shipping & Trading and Fairdeal Marine Services.

Tsokopoulos joined in 2017 after an internship at Azora Marine Co.

Monjasa opened its base in Limassol, Cyprus, in 2016.