Endeavour Invest in the media

Led by Endeavour’s ownership of global marine fuels supplier, Monjasa, the company realised the second-best financial performance ever, which contributed to an all-time high consolidated equity of USD 437m. An important contributor to Monjasa’s solid financial performance, was the ability to navigate the high market volatility and determination to continue strengthening the fleet. Overall, the Monjasa fleet of owned tankers increased from 12 to 14 during 2023, while the total number of tankers and barges deployed worldwide remained steady at 30. Looking at the overall financial performance, Endeavour Invest concluded 2023 with revenue of USD 4.4bn (USD 5.5bn) and a net result of USD 113m (2022: USD 170m), which led to a significantly improved consolidated equity of USD 437m (2022: USD 327m).  Selling RelateIT to twoday Main developments in 2023 also included a farewell to a treasured Endeavour member, IT business unit, RelateIT. During August, we finalised the sale of all shares in RelateIT to Nordic IT Group, twoday. Under our ownership, RelateIT has grown to become a major player in Denmark within ERP solutions, with close to 200 colleagues working across six locations. Offshore developments Looking to the offshore wind industry, CBED, performed above expectations and demonstrated a strong...

Read More Endeavour Invest equity exceeds $400m following second-best financial year

CBED expands fleet with two new SOVs: Wind Evolution and Wind Creation The Danish shipowning company, CBED, an Endeavour Invest ApS company specialised in tailor-made offshore accommodation solutions for the offshore energy sector, acquires two new vessels.  The two new SOVs, Wind Evolution and Wind Creation, are expected to be delivered end of Q1 2024 and join the CBED fleet which since 2008 have worked on 31 individual offshore wind projects in Northern Europe.   Following delivery from seller, Dutch-based shipping company Vroon, both Wind Evolution (formerly Vos Start) and Wind Creation (formerly Vos Stone) will be dry-docked for refurbishing, name change and painting according to the CBED fleet design. They will be ready to take on new walk-to-work, IRM and subsea projects starting Q2 2024. The parties have chosen not to disclose the sales amount.    Surge in demand for SOVs Looking to the future, the coming decade is likely to bring unprecedented demand for vessels to service projects in the offshore sector. According to Clarkson’s latest market report, the offshore wind sector alone is expecting 30,000 turbines and foundations are to be installed by 2030, and the yearly installation rate is set to double from 700-1,000 per year to more...

Read More Continuous Investment in Offshore Wind Logistics 

AHA Creations and Fredericia Musical Theatre enter a new strategic collaboration with the aim of producing top-level musicals with a strong financial foundation. Fredericia Musical Theatre announces a strategic collaboration with production company, AHA Creations, which aims to create unique musical experiences in Fredericia. Together, they intend to build and develop a world-class musical ecosystem, building upon the theatre's successful musical heritage.AHA Creations, an Endeavour company, is a modern production company at the forefront of innovative, story-led musicals on the international stage.Setting the scene for world class musicals  The Theatre Director at Fredericia Musical Theatre, Thomas Bay, and Artistic Director, Martin Palme Skriver at AHA Creations both see the collaboration as a decisive step forward: "The theatre is now ready to take a big step towards becoming one of Denmark's leading music producers. The theatre is already running well with strong artistic successes, and we are of course sticking to the new line we have laid out for Fredericia Musical Theatre with experimental musicals as well as musicals for children and young people. Through the collaboration with AHA Creations, the Theatre now gets the extra financial safety net it needs to go up a higher gear," says Thomas Bay. AHA...

Read More AHA Creations in New Musical Partnership

The Danish IT industry marks an important moment with twoday’s acquisition of Endeavour Invest portfolio company RelateIT. The acquisition marks a strategic expansion of twoday, enhancing its capabilities in delivering digital transformation solutions across Europe.  RelateIT, known for its expertise in Microsoft Business Central, brings to the table an impressive portfolio of enterprise resource planning (ERP) services. This move positions twoday as a formidable entity in the IT sector, offering comprehensive services across the Microsoft tech stack. Commenting on the transaction, Anders Østergaard, Endeavour Invest CEO, noted that the sale of RelateIT was a "significant milestone in Endeavour's M&A activities and a strong testament to the Group's capabilities in developing new business entities." Enhancing Capabilities and Reach The synergy between twoday and RelateIT promises to extend the range of services offered to twoday’s clients. With over 1000 employees in Denmark and a total of 2700 across the Nordics and Lithuania, twoday's workforce has experienced a significant increase, with the transaction bringing a further 180 employees to the Nordic IT group. RelateIT's addition enhances twoday's ability to provide holistic IT solutions, covering every aspect of the IT landscape. This integration not only augments twoday's technical capabilities but also expands its reach...

Read More twoday’s Strategic Acquisition of RelateIT

Monjasa Holding A/S, an Endeavour Invest ApS company, has achieved its strongest year to date, with a combination of historically strong shipping markets, high volatility and disrupted global trade flows contributing to a dynamic marine fuels market. The marine fuels supply chain was put to the test in ports around the world. However, through an effective combination of organisation and maritime operations, Monjasa was able to support customers and suppliers during critical moments. For Monjasa, this meant gaining market share at higher margins, reflecting the increased volatility and imbalance in supply and demand. Sustaining a Global Top 10 Position The year concluded with a record-high activity level and a total volume of 6.4m tonnes (2021: 5.7m mts) of marine fuels supplied to shipowners and operators worldwide, total revenue of USD 5.5bn (2021: USD 3.2bn) and a net result of USD 171m (2021: USD 22m). In fact, from supplying 3.5m tonnes in 2017, Monjasa has increased total volume by 83% in five years and sustained a solid position among the world’s top 10 largest marine fuel suppliers. Endeavour CEO, Anders Østergaard shares “We are very satisfied with the achieved results and to record a 12% volume increase during a year of...

Read More Monjasa Reports Strongest Year Ever – Annual Report 2022

The bunker industry, integral to global maritime operations, has remained a dynamic and competitive arena. In 2023, the landscape of top bunker companies reflected a blend of established giants and emerging players, reflecting the industry's evolving nature. Ship and Bunker compiled a list of the top 10 bunker companies, with Monjasa standing out for its continuous developments, coming in at #7 globally. Co-founded in 2002 by Endeavour Founder & CEO, Anders Østergaard, Monjasa has shown remarkable growth, catapulting itself into the top ranks of the industry. With a sales volume of 6.4 million metric tons, Monjasa's rise is not just a story of numbers but a commitment to quality and personal service. Its operations, spanning multiple global offices and an expanding fleet, underline its dedication to meeting the diverse needs of its clientele. As the industry continues to face challenges ranging from market volatility to environmental regulations, the 2023 landscape of top bunker companies tells a story of resilience, innovation and adaptability, while serving as a reminder of the dynamic nature of the bunker industry. With each company bringing its unique strategy and vision, the industry is poised for continued growth and green transformation, setting the course for a new...

Read More Monjasa Listed Among Top 10 Bunker Companies of 2023