Doros Mitsingas: “We are ready to seize new market opportunities when the timing is right”

Doros Mitsingas, General Manager, Mediterranean at Monjasa, a global shipping partner and one of the 10 largest marine fuels suppliers in the world, talks about the company’s decision to invest in the island’s rich shipping cluster and the close ties it has forged with the local shipping community.

What strategic considerations led to the decision to set up operations in Cyprus in 2017?

Cyprus’ commitment to growing the shipping and energy sectors led by generally pro-business governments and the ability to source qualified local and European talent were key factors in our decision to set up our activities here. We felt then – and continue to do so today – that our Cyprus office can grow into an operation that covers all our Mediterranean activities across the maritime supply chain.

Has the fact that Cyprus is one of the main ship management hubs in the EU benefited your business in the marine fuels and refuelling solutions industry?

Being close to the local shipping community has allowed us to learn more, engage more closely with stakeholders and understand where Monjasa can be of value. It has allowed us to be inspired and to inspire others on how we can challenge the status quo and bring new and original ideas to the table. This close proximity to the market has also benefited us in understanding more about how the shipping industry expects to tackle important matters like decarbonisation and how we can facilitate the changes ahead.

How would you describe Monjasa’s impact on the local economy?

Local talent recruitment and talent development are true investments in our joint future. Giving young people an A-Z shipping and bunkering education, international perspectives and a career path under the usual growth patterns or the Monjasa Oil & Shipping Trainee (MOST) programme is something that we can all collectively be proud of. We go beyond our Monjasa world and are outward-looking in our vision for talent development with other key partners and stakeholders, like Youngship Cyprus, the Cyprus Shipping Chamber and the Cyprus University of Technology. We feel that the presence of international companies like Monjasa in Cyprus will encourage other companies to commence operations here and join us in helping grow local industries.

Looking ahead, what are Monjasa’s plans for expanding its services and operations in Cyprus and the broader Mediterranean region? Are there specific projects or strategic goals you are working towards to enhance your market presence and service offerings?

Marine fuel is a global commodity and we are very well aware that our working culture is a real differentiator. The DNA from our private ownership must always be present and Monjasa has evolved from having just two to employing 600 colleagues, solely through organic growth. Therefore, developing the business steadily while keeping the culture thriving is our recipe. With the strong support of the financially robust Monjasa Group, we are ready to seize new market opportunities when the timing is right.

Congratulations on recently winning an Invest Cyprus International Investment Award. What does this recognition mean for you?

Thank you very much! This acknowledgment gives us more motivation and makes us proud. It shows that we are on the right course, guided by our corporate purpose which is all about making our business personal so that Monjasa benefits the communities we operate in. So, this award comes as a recognition of just that.

This interview first appeared in the July edition of GOLD magazine. Click here to view it.