Asia/Pacific News
TFG Marine to Join Singapore Bunker Market at Start of May
Global bunker supplier TFG Marine plans to join the Singapore bunker market at the start of May, after being awarded its licence to operate in the world's largest bunkering hub this week.
The company will start to supply high sulfur fuel oil, very low sulfur fuel oil and marine gasoil in Singapore from the beginning of May, it said in an emailed statement Tuesday.
"TFG Marine adds value by providing an end-to-end service, integrating its expertise in commodity trading with marine fuels supply infrastructure and logistics," Anders Grønborg, CEO of TFG Marine, said in the statement.
"As a very strong counterparty in the marine market we look forward to serving the thousands of vessels visiting the Port of Singapore each year efficiently, reliably and responsibly."
On Monday Singapore's Maritime and Port Authority (MPA) said it had granted bunker supplier licences to Minerva Bunkering and TFG Marine.
The addition of the two companies takes Singapore's number of accredited suppliers to 45, the MPA said.
TFG Marine is a new bunker supplier launched jointly by Trafigura, Frontline and Golden Ocean last year.
In a map on its website setting out the geographical areas where it plans to launch operations, the company lists Singapore, Mauritius, the Amsterdam-Rotterdam-Antwerp hub, the US Gulf, Panama and Ecuador as its targets.
The company plans to announce "further developments" in its physical supply footprint in Asia, Europe and the Americas, it said in Tuesday's statement.
