CMB.TECH will increase its stake in TFG Marine from 10% to 15% and consolidate all bunker fuel procurement for CMB.TECH and its affiliates through the marine fuel joint venture from 1 June 2026, according to TFG Marine.
The transaction will leave Trafigura with 70% of TFG Marine, while Frontline Plc and CMB.TECH will each hold 15%.
CMB.TECH acquired its original 10% stake in TFG Marine through its takeover of Golden Ocean, the previous shareholder in the venture.
TFG Marine said CMB.TECH and its affiliates represent a fleet of about 250 ocean-going vessels. The bunker supplier operates across more than 35 strategic bunkering hubs worldwide.
Kenneth Dam, executive director of TFG Marine, called the move “a strong endorsement” of the venture.
CMB.TECH chief executive Alexander Saverys said the company had “decided to centralise our bunkering requirements through their platform”. Frontline chief executive Lars H. Barstad said Frontline had been part of TFG Marine “since day one”.
CMB.TECH is a Belgian maritime group headquartered in Antwerp with activities across shipping and marine technology.
TFG Marine is a marine fuel supply and procurement joint venture backed by Trafigura, Frontline and CMB.TECH.
Trafigura is a global commodities group active in trading, logistics and infrastructure.
Frontline Plc is a tanker shipping company.