CMB.Tech has increased its shareholding in marine fuel supplier TFG Marine Pte Ltd from 10% to 15% and committed to channelling all bunker fuel procurement for its fleet of approximately 250 ocean-going vessels through the joint venture, effective 1 June 2026.

The stake increase is being executed through an issuance of new shares under revised shareholder arrangements. Following completion, TFG Marine’s shareholding structure will comprise Trafigura at 70%, Frontline Plc at 15%, and CMB.Tech at 15%.

CMB.Tech originally acquired its 10% stake in TFG Marine through its acquisition of Golden Ocean, a previous shareholder in the joint venture. The decision to increase its holding and consolidate bunker procurement through TFG Marine extends the existing marine fuel supply agreement to cover all bunker demands of CMB.Tech and its affiliates.

TFG Marine operates across more than 35 bunkering hub locations worldwide.

Kenneth Dam, Executive Director of TFG Marine, said: “CMB.Tech’s decision to increase its stake and consolidate its bunker procurement through TFG Marine is a strong endorsement of what we have built together. This transaction deepens our commercial relationship and reinforces TFG Marine’s position as the marine fuel supplier of choice for leading shipping groups.”

Alexander Saverys, CEO of CMB.Tech, commented: “We inherited the shareholding in TFG Marine through our acquisition of Golden Ocean. Through this integration, we were able to witness the high quality of service TFG provides to the market and have decided to centralise our bunkering requirements through their platform. TFG has established an excellent track record and this transaction supports our long-term bunkering strategy.”

Lars H. Barstad, CEO of Frontline, remarked: “Frontline has been part of TFG Marine since day one, and our confidence in the venture has only grown. TFG Marine was built to serve the bunker operations of its shareholder fleets, and it does exactly that — allowing us to focus on our core business with the assurance that our fuel supply is in expert hands. We look forward to the next chapter.”

Andrea Olivi, Global Head of Shipping at Trafigura, stated: “As the founding and majority shareholder, Trafigura is proud of the business TFG Marine has become. TFG’s position as one of the leading marine fuel suppliers in the world is built on a foundation of operational excellence, underpinned by digitalisation, modernisation and transparency. With the support of its shareholders, TFG Marine has the platform and the ambition to continue its trajectory of growth.”