What TFG Marine does

TFG Marine Pte. Ltd. is a Singapore-incorporated marine fuel supply (bunkering) joint venture founded in 2020, owned 70% by Trafigura, 15% by Frontline, and 15% by CMB.TECH (post May 2026 restructuring). It supplies conventional marine fuels (HSFO, VLSFO, LSGO), biofuels (FAME B20 and B30), and is positioning for future fuels (methanol and low-carbon ammonia) to commercial shipping customers worldwide. The company serves a captive base of approximately 700+ vessels from its shareholders and a growing book of third-party shipowners across more than 35 strategic bunkering hub locations spanning the Americas, Europe, Africa, the Middle East, and Asia.

The operating model combines physical bunkering infrastructure — owned and time-chartered barges, over 300,000 mt of onshore storage at ARA alone, and 546,000 cbm of fuel oil storage in Singapore — with technology-enabled transparency tools. These include ISO 22192-compliant mass flow meters (Coriolis-effect measurement by Endress+Hauser) that eliminate volume-based quantity disputes, and an Electronic Bunker Delivery Notice (eBDN) platform co-developed with ZeroNorth, integrated with Singapore's SGTraDex trade data exchange and deployed across Singapore, Port of Sohar, and Port Louis. The group operates through core subsidiaries and JVs including Vilma Oil Med (Spain, Strait of Gibraltar — majority-owned), TFG-GRM (Mauritius — with Groupe Roland Maurel), TFG-OOMCO (Oman — with Oman Oil Marketing Company), and Heron Marine (South Africa).

TFG Marine generates revenue via transaction-based physical fuel supply to vessels, with pricing conducted through direct sales negotiations and no publicly disclosed pricing model. Distribution is entirely direct sales, organized regionally across Europe, the USA, Africa, Panama, and Singapore. Working capital — critical given commodity inventory and prepayment cycles — is supported by a USD 300 million facility from DBS Bank (signed May 2026). The company is led by CEO Anders Grønborg (joined April 2020) and Global Head of Bunkering Kenneth Dam, and has been recognized by Singapore's Maritime and Port Authority with an Excellence in Bunker Safety award (2026).

Name

TFG Marine

Legal name

TFG Marine Pte. Ltd.

Website

https://tfgmarine.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

TFG Marine is a Singapore-based marine fuel supply joint venture (Trafigura 70%, Frontline 15%, CMB.TECH 15%) that provides physical bunkering and fuel blends to commercial vessels across 35+ global hubs, serving both shareholder fleets of ~700 vessels and third-party shipowners.

Ownership category

akta.pro rank

Product category

Marine Bunkering Services

NAICS

Support Activities for Water Transportation (4883), Other Support Activities for Water Transportation (48839)

SIC

Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

Conventional Marine Fuel Bunkering (HFO/VLSFO/MGO/ULSFO) (TLAHAKAA)

akta.pro secondary industries

Marine Bunkering & Port Fuel Supply (EUALAIAG), Bunkering Equipment, Systems & Maintenance (Hoses, Couplings, Metering, Vapour Return) (TLAHAKAK)

Keywords

• Marine bunkering services
• Marine fuel supply
• Vessel refueling
• Marine biofuel blends
• Ship fuel procurement

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices19 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Marine Fuel Supply and Bunkering: TFG Marine generates revenue through the physical supply of marine fuels (HSFO, VLSFO, LSGO, biofuels) to vessels globally. The company sources and delivers grades and blends globally in line with shippers' requirements, operating its own fleet of barges and time-chartered vessels.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

TFG Marine is a marine fuel supply joint venture that sources and delivers marine fuels (HSFO, VLSFO, LSGO, and biofuels) to commercial vessels worldwide through an integrated bunkering service combining commodity trading expertise with physical supply, infrastructure, and logistics. The company operates an owned and time-chartered fleet of barges and vessels across 35+ strategic bunkering hub locations in the Americas, Europe, Africa, and Asia, supplying over 10 million metric tonnes of marine fuel per annum.

Product overview

TFG Marine operates as a leading international marine fuel supply and procurement joint venture formed in 2020, providing end-to-end bunkering services that integrate commodity trading expertise with marine fuel supply, infrastructure and logistics. The company's core offering includes physical marine fuel supply across 35 strategic bunkering hub locations globally, supported by technology-enabled services such as Mass Flow Meters (MFMs) for accurate fuel measurement and Electronic Bunker Delivery Notices (eBDN) for digital transaction management. TFG Marine offers sustainable fuel options including FAME B20 and B30 biofuels, and operates several regional joint ventures including Vilma Oil Med (Spain/Strait of Gibraltar), TFG-GRM (Mauritius), and TFG-OOMCO (Oman). The group comprises TFG Marine BV, TFG Marine Inc., Heron Marine, and Vilma Oil Med.

Differentiator

Problem solved

Functional benefit

Brands

• Vilma Oil Med: Bunkering company located in the Port of Ceuta, Spain, strategically positioned in the Strait of Gibraltar, offering marine fuel supply services with 84,000 cbm storage terminal capacity.
• TFG-GRM
• TFG-OOMCO

Products and services

• Marine Fuel Supply and Bunkering Services End-to-end bunkering service integrating commodity trading expertise with physical marine fuel supply, infrastructure, and logistics. Sources and delivers grades and blends globally in line with shippers' requirements at port and offshore locations.
• Biofuels (FAME B20 and B30) Lower-carbon marine biofuel blends supplied at ports including Amsterdam, Rotterdam, and Flushing. B20 contains 20% biodiesel and 80% VLSFO; B30 contains 30% waste oil feedstock and 70% VLSFO. Offered to shipowners seeking lower-carbon alternatives to standard marine fuels.

Quantifiable outcome

• Direct mass flow measurement eliminates discrepancies caused by physical properties of fluids unlike volume-based measurement
• +2 more outcomes

Named customers4 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

Nine partnerships are on record, tiered core.

• CF IndustriescoreStrategic or Co-development Partner · 15 January 2026CF Industries, Trafigura, and TFG Marine signed MoU to facilitate adoption of low-carbon ammonia as a marine fuel. CF Industries provides low-carbon ammonia production and export capabilities at its Donaldsonville, Louisiana complex. Initial focus on US Gulf Coast and Northwest Europe to develop supply chain and logistics infrastructure for ammonia bunkering.
• Vilma Oil MedcoreStrategic or Co-development PartnerTFG Marine is the majority owner of joint venture Vilma Oil Med, a bunkering company located in the Port of Ceuta, Spain. Operations include 84,000cbm storage terminal and bunkering barge, supplying over 1,500 vessels each year. Located in the Strait of Gibraltar with over 100,000 vessels transiting annually.
• Groupe Roland MaurelcoreStrategic or Co-development PartnerJoint venture TFG-GRM established in Mauritius for marine fuel supply. TFG Marine has been supplying marine fuel in Mauritius for over two years via this partnership.
• OOMCO (Oman Oil Marketing Company)coreStrategic or Co-development PartnerTFG-OOMCO joint venture established for bunker fuel supply operations in Oman. Operations include eBDN trial at Port of Sohar, first deployment in the Middle East.
• ZeroNorthcoreTechnology or IntegrationPartnership with ZeroNorth to develop and deploy electronic bunker delivery notice (eBDN) solution. First deployed in Singapore, then expanded to Port of Sohar in Oman and Port Louis, Mauritius. Digital solution streamlines bunker delivery process and enhances transparency.
• Consort BunkerscoreStrategic or Co-development PartnerTFG Marine signed agreement with Consort Bunkers for four newbuild methanol carriage bunker tankers.
• Fratelli Cosulich GroupcoreStrategic or Co-development PartnerFratelli Cosulich Group ordered its first methanol dual-fuelled bunker tanker backed by a long-term time charter to TFG Marine. Maya Cosulich vessel launched for operations in Singapore.
• Heron MarinecoreStrategic or Co-development PartnerHeron Marine is part of TFG Marine Group and operates in South Africa (Algoa Bay) providing marine fuel deliveries for all vessel types and sizes including VLCCs and Capesize.
• Endress+Hauser GroupcoreTechnology or IntegrationMass flow meter manufacturer providing technology for TFG Marine's fuel measurement systems. First MFM installed on UniBarge MTS Sydney at Port of Rotterdam.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• World Fuel Services: Global fuel and marine energy services provider offering bunker fuels, lubricants, and voyage optimization. Comparable scale and breadth across marine fuel supply, with a similarly distributed global hub model.
• Minerva Bunkering (formerly Aegean Marine Petroleum Network): Global physical marine fuel supplier operating across 60+ ports with a focus on transparency and mass flow metering. Closely comparable to TFG Marine in operating model, hub footprint, and digital bunkering strategy.
• Peninsula Petroleum: One of the world's largest independent marine fuel suppliers, headquartered in Singapore with operations across major bunkering hubs. Direct competitor to TFG Marine in physical bunker supply, third-party shipowner sales, and biofuel offerings.
• Monjasa: Denmark-based independent bunker and oil supplier with strong presence in EMEA and West Africa. Directly competes with TFG Marine in physical supply, lightering operations, and emerging biofuel offerings.
• Vitol (V-Bunkers): World's largest independent energy trader with a significant marine fuels division. Operates physical supply at key hubs and integrates commodity trading with bunkering, mirroring TFG Marine's Trafigura-backed model.
• KPI OceanConnect (Bunker Holding): Global bunker trading and physical supplier operating across 30+ ports. Directly comparable in customer segmentation (third-party shipowners), product portfolio, and digital bunker offerings.

Broad incumbents

• TotalEnergies Marine Fuels: Marine fuels arm of integrated oil major TotalEnergies, supplying conventional and LNG bunker fuels globally. Larger balance sheet and integrated supply chain make it a formidable incumbent competitor at the world's largest hubs.
• Shell Marine Products: Marine fuels division of Shell, one of the world's largest bunker suppliers with deep integrated supply, brand trust, and proprietary digital platforms. Sets pricing benchmarks that affect TFG Marine's realized margins.
• BP Marine: BP's global marine fuels business offering conventional and alternative fuels at major hubs. Direct competitor at scale with integrated upstream-to-bunker economics that enable competitive pricing.

Regional players

• GAC Bunker Fuels: Bunker trading and supply arm of GAC Group with strong Middle East, Mediterranean, and Asia presence. Comparable regional supplier competing with TFG Marine at several of its hub locations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/tfgmarine
• Xx.com/tfg_marine

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about TFG Marine