Founded in 2020, TFG Marine is a bunker fuel supply and procurement joint venture between Trafigura and two of the world’s largest shipowners, Frontline and Golden Ocean.
The partnership brings together three companies that are market leaders in their respective fields, each with complementary strengths.
The combined demand from Trafigura Marine Logistics, Frontline and Golden Ocean, which collectively boast a fleet of more than 700 owned and chartered vehicles, has laid the foundation for TFG Marine to become a top-three supplier of bunker fuel in just two years. We are now operational in 35 key hubs along the world’s major shipping routes.
Benefitting from Trafigura’s financial backing and risk management expertise, TFG Marine was able to successfully navigate highly volatile market conditions in 2022 and meet the needs of its growing customer base as many of its rivals struggled in a market defined by unprecedented volatility. As a result, the joint venture recorded stronger-than-expected profit over the financial year to September.
Decarbonisation and digitisation will be two key areas of focus for the business going forward. TFG Marine will continue to promote the need for mass flow meters, a digital technology that accurately measures marine fuel deliveries, to shift the industry away from outdated operational practices and to bring greater transparency. To this end, over a third of our barges are already equipped with this technology, with more to be added over the next two years, against an industry average of just one percent.
We also see the ability to manage the supply chain through our alignment with Trafigura as a key competitive advantage for the joint venture given to provide greater certainty.
TFG Marine is also continuing to work on the development of a digital portal that can provide customers with information including quotes and certificates of quality. Combined with the data gathered by our mass flow meters, this has the potential to provide a live view of the entire bunkering process and further differentiate TFG Marine from its competitors.
As the shipping industry transitions from carbon intensive fuels to low-carbon alternatives such as green ammonia and methanol, TFG Marine plans to work with its shareholders and customers to ensure that they can reach their decarbonisation goals and access the fuels of the future.
