TFG Marine Pte Ltd, a leading global marine fuel supplier, has announced that CMB.TECH has increased its shareholding in the company and committed to sourcing the bunker fuel requirements of both CMB.TECH and its affiliates through TFG Marine.
Under revised shareholder arrangements effective from 1st June 2026, CMB.TECH will increase its equity stake in TFG Marine from 10 percent to 15 percent through the issuance of new shares. The agreement also expands the existing marine fuel supply arrangement to include all bunker fuel requirements across CMB.TECH and its affiliated fleet operations.
CMB.TECH and its affiliates currently operate a future-focused fleet of approximately 250 ocean-going vessels. Following completion of the transaction, TFG Marine’s shareholding structure will consist of 70 percent Trafigura, 15 percent Frontline Plc and 15 percent CMB.TECH.
CMB.TECH initially acquired a 10 percent stake in TFG Marine through its acquisition of Golden Ocean, a previous shareholder in the business. The decision to increase its shareholding reflects growing confidence in TFG Marine’s ability to provide reliable, efficient and transparent marine fuel supply services on a global scale.
By consolidating its bunker procurement through TFG Marine, CMB.TECH is expected to benefit from the company’s international supply network, operational expertise and presence across more than 35 strategic bunkering hub locations worldwide.
The development also aligns with TFG Marine’s broader strategy of strengthening its shareholder base through partnerships with major industry participants as the business continues to expand its global footprint.
Kenneth Dam, executive director of TFG Marine, said the increased investment and procurement commitment demonstrated confidence in the company’s long-term strategy and operational capabilities. He noted that the agreement further strengthens the commercial relationship between the companies while reinforcing TFG Marine’s position within the global marine fuel market.
Alexander Saverys, CEO of CMB.TECH, commented that the company had experienced the quality of TFG Marine’s services following the integration of Golden Ocean and subsequently decided to centralise its bunkering requirements through the platform as part of its long-term fuel supply strategy.
Frontline CEO Lars H. Barstad stated that the company’s confidence in the joint venture had continued to grow since becoming a founding shareholder, highlighting TFG Marine’s ability to efficiently manage marine fuel operations on behalf of shareholder fleets.
Andrea Olivi, global head of shipping at Trafigura, said TFG Marine’s growth had been built on operational excellence, supported by digitalisation, modernisation and transparency. He added that the company remained well-positioned for continued expansion with the support of its shareholders.
For more information visit www.trafigura.com
28th May 2026
