TFG Marine signs agreement with Consort Bunkers for four newbuild methanol carriage bunker tankers

TFG Marine (“TFG”), the leading international marine fuel joint venture founded by Trafigura, Frontline and Golden Ocean, today announced the signing of a long-term time charter agreement with Singapore-headquartered Consort Bunkers for four newbuild methanol carriage-ready bunker tankers. This marks TFG's latest move to prepare its logistics capabilities for the future demand for low-carbon marine fuels, according to the company's release.
 
The 6,500-dwt IMO type 2 tankers are being constructed by Merchants Jinling shipyard in Nanjing, China and will be operated by Consort Bunkers for TFG Marine. Deliveries will commence in late 2024 and continue into 2025. The vessels will be capable of carrying TFG Marine's current range of marine fuels, including HSFO, VLSFO, MGO and biofuels up to B100, as well as any grade of liquid methanol in the future.
 
The new tankers will be fitted with Mass Flow Meters, as required by the MPA. TFG Marine has long advocated for the global adoption of MFMs to increase transparency in the bunkering process. A recent whitepaper sponsored by TFG Marine proposed Singapore's MFM-based licensing system as a model for other port regulators to follow.
 
This newbuild order expands on TFG Marine's initial investment in low-carbon fuel bunkering infrastructure. In January 2024, the company announced an agreement with Fratelli Cosulich Group for a methanol dual-fuel bunker barge to be delivered in late 2025 and deployed in the Port of Singapore.
 
TFG Marine is a leading international marine fuel supply and procurement joint venture between physical commodity trading company Trafigura Group Pte and ship owning companies Frontline Ltd and Golden Ocean Group Ltd. Formed in 2020, the company provides modern, simplified and transparent services that bridge every stage of the bunkering process for its customers, supplying over 10 million metric tonnes of marine fuels per annum across 35 strategic bunkering hub locations globally.