Image Credit: TFG Marine

Singapore-based TFG Marine is a bunkering joint venture launched by Trafigura and John Fredriksen-controlled shipping firms Frontline Ltd and CMB.TECH (then known as Golden Ocean Group Ltd) in 2020.

Trafigura, the majority owner, is one of the world's largest commodity trading houses, with $2.7 billion in profits in 2024-25.

TFG is managed by Geneva-based Kenneth Dam.

In 2025 the company had bunker sales of about 10 million mt, compared to about 9.7 million mt the previous year and about 10.6 million mt in 2023. Sales to the owned and chartered fleet of its shareholders - taking in more than 700 vessels - represent a significant portion of these volumes.

Widespread Operations

The firm has offices in Singapore, Geneva, Athens, Copenhagen, Oslo and Montevideo, and supplies bunkers at ports across every region of the world.

Its main operations are focused on Singapore, Mauritius, West Africa, Argentina, Uruguay, Brazil, Trinidad and Tobago, Panama, the US Gulf, Ceuta, the English Channel, ARA, Malta and Oman.

The firm was one of Singapore's top ten suppliers by volume in 2025.

At the end of 2024 TFG announced its acquisition of a majority stake in Spanish bunkering company Vilma Oil Med, with a significant presence in the Strait of Gibraltar and Western Mediterranean, an 84,000 m3 storage terminal and a bunker barge. At the start of 2026 the firm said it had expanded this storage to about 120,000 m3, enhanced ex-pipe delivery capabilities and added a new IMO II chemical tanker capable of supplying biofuel blends up to B100.

At the start of 2025 TFG launched a bunkering joint venture with the Oman Oil Marketing Company, TFG-OOMCO LLC, to supply bunkers at the ports of Duqm, Muscat and Sohar.

TFG's operations in Panama include multiple barges and access to storage capacity at Balboa and Cristobal through Trafigura.

The firm relaunched Trinidad and Tobago physical supply at the end of 2025, supplying VLSFO and LSMGO using the 13,100 DWT tanker Valley Oak.

TFG has been a vocal supporter of the use of mass flow meters in bunkering to increase transparency. In late 2025 TFG participated as a founding member of the Bunkering Services Initiative at the ARA hub, in which a range of marine fuel stakeholders came together in a group committing to higher standards through a fully transparent, digital and MFM-backed marine fuel service.