Fratelli Cosulich Group orders its first methanol dual-fuelled bunker tanker backed by a long-term time-charter to TFG Marine

Trieste and Singapore, 15 January 2024 - Fratelli Cosulich Group is proud to announce that on December 15, the Company placed an order for its first methanol dual-fuelled chemical bunker tanker. The 7,990 dwt IMO Type II chemical vessel will be built at Taizhou Maple Leaf Shipbuilding Co., Ltd in China. With a capacity of over 8,000 m3, its cargo tanks will be coated to enable carrying both green methanol and biofuels.

The vessel will be delivered in the last quarter of 2025 and will be located at the Port of Singapore under a fixed-rate time charter contract with global commodities trader Trafigura. It will be deployed to deliver marine fuels for TFG Marine, Trafigura’s international marine fuel supply and procurement joint venture with shipowning companies Frontline Ltd and Golden Ocean Group Ltd. Fratelli Cosulich Bunkers Singapore will oversee the technical management and operations of the vessel for TFG Marine.

Green methanol has recently been gaining prominence as a future, viable marine fuel, as the global order book for methanol-fuelled ships has been gaining ground and many shipping companies have included methanol in their decarbonisation strategy.

The Port of Singapore is also undertaking necessary planning to ensure a steady supply of methanol from 2025 onwards in order to meet these future bunkering needs.

“We believe in a multi-fuel future and this is an additional important step by our Group in that direction, after having built two LNG bunker vessels. With this important investment the Group wants to reaffirm its commitment to decarbonisation. We are also proud of strengthening our relationship with the Trafigura Group, a market leader in the global commodities industry,” states Guido Cardullo, Head of Business Development of Fratelli Cosulich Group.

“The vessel has been designed to our technical specifications, including stringent safety considerations, so that it can be continually powered by methanol. Delivery of the vessel in the last quarter of 2025 should coincide with growing demand for methanol as a bunker fuel from shipowners,” said Kenneth Dam, TFG Marine’s Global Head of Bunkering. “Deploying a vessel powered by a renewable fuel such as green methanol also helps TFG Marine to meet its licence requirement with and TFG’s commitment to the Maritime & Port Authority of Singapore.”

The vessel will have twin fixed pitch propellers, each driven by an electrical motor via gear box, and three dual-fuelled generator sets supplied by MAN Energy Solutions. An onboard battery storage system will optimise the use of the dual-fuelled generators.

ENDS

For further information, please contact:
Fratelli Cosulich Press Office: Tel + 39 010 2715238 or Email: marketing@cosulich.it
TFG Marine Press Office: Tel +41 (0) 22 592 4528 or Email: media.tfg@tfgmarine.com

About Fratelli Cosulich Group

Fratelli Cosulich Group is a global shipping and logistics player with a rich history from 1857. It is still owned by the Cosulich family in its seventh generation, counting 14 business units, 133 companies, and spanning 27 countries from Asia, Europe, and the Americas. Since 1969, the Group has been a leading player in the marine fuel industry, operating as a bunker trader, and owning a fleet of bunker tanker vessels and two LNG small scale bunker vessels in the Bay of Singapore.

For further information visit www.linkedin.com/showcase/marine-energy-fratelli-cosulich/

About TFG Marine

TFG Marine is a leading international marine fuel supply and procurement joint venture between physical commodity trading company Trafigura Group Pte and shipowning 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.

Visit: www.tfgmarine.com