MONTEMAR S.A. COMMERCIAL Y MARITIMA.
image by Jorge Candeias, 7 January 1998; 6 February 1999
The blue shades differ between sources. The company website showed a single dark blue, also used in Candeias’s 1999 FOTW version. Nüsse’s table flag has a definitely brighter royal-blue letter; Stewart instead shows a black letter. Two 1998 FOTW versions have light-blue bands, one with a light-blue M and the other with a dark-blue M. Rosanoski considers a single-colour version most likely but does not dismiss the observed table-flag difference.