Following the new issuance, Trafigura will own 70% of the company, Frontline Plc 15% and CMB.TECH 15%. Image Credit: TFG Marine

Shipping firm CMB.TECH is set to raise its stake in TFG Marine, one of the world's top bunker suppliers and trading firms.

The company will raise its stake in TFG from 10% to 15% as of June 1 through an issuance of new shares, TFG said in an emailed statement on Wednesday.

Following the new issuance, Trafigura will own 70% of the company, Frontline Plc 15% and CMB.TECH 15%.

Trafigura, Frontline and Golden Ocean launched TFG Marine in January 2020. CMB.TECH inherited Golden Ocean's stake when it acquired Golden Ocean last year.

As part of Wednesday's announcement, from now on TFG will now cover 100% of CMB.TECH's bunker requirements. The company has a fleet of about 250 vessels including bulkers, tankers, container ships and offshore energy vessels.

“CMB.TECH's decision to increase its stake and consolidate its bunker procurement through TFG Marine is a strong endorsement of what we have built together,” Kenneth Dam, executive director of TFG Marine, said in the statement.

"This transaction deepens our commercial relationship and reinforces TFG Marine's position as the marine fuel supplier of choice for leading shipping groups."

Alexander Saverys, CEO of CMB.TECH, said the decision to increase its stake reflected confidence in TFG's service.

“We were able to witness the high quality of service TFG provides to the market, and have decided to centralise our bunkering requirements through their platform," he said.

"TFG has established an excellent track-record and this transaction supports our long-term bunkering strategy.”

TFG Marine sold about 10 million mt of bunker fuels worldwide last year, according to Ship & Bunker's Top Ten Bunker Companies for 2026 report.