TFG Marine to Charter Four Methanol Bunker Tankers

TFG Marine, the international marine fuel joint venture founded by Trafigura, Frontline and Golden Ocean, has announced the signing of a long-term time charter agreement with Singapore-headquartered Consort Bunkers for four newbuild methanol carriage-ready bunker tankers.

The 6,500-dwt IMO type 2 tankers are being constructed by Merchants Jinling shipyard in Nanjing, China, and will be operated by Consort Bunkers for TFG Marine. Deliveries will commence in late 2024 and continue into 2025.

The vessels will be capable of carrying TFG Marine's current range of marine fuels, including HSFO, VLSFO, MGO and biofuels up to B100, as well as any grade of liquid methanol in the future.

"This agreement is part of TFG Marine's ongoing efforts to renew our fleet with modern, mass flow meter-equipped bunker barges that are ready to carry the low-carbon fuels that will help shipping decarbonize," said TFG Marine's Global Head of Bunkering, Kenneth Dam.

S.K. Yeo, Director and General Manager of Consort Bunkers, said: "With the Maritime and Port Authority of Singapore set to introduce a methanol bunkering licensing framework in the near future, we are supporting TFG Marine’s goal to take a leading role in providing low-carbon fuels to international shipping companies in this global bunkering hub.”

In January 2024, the company announced an agreement with Fratelli Cosulich Group for a methanol dual-fuel bunker barge to be delivered in late 2025 and deployed in the Port of Singapore.