TFG Marine, a global marine fuel joint venture formed by Trafigura, Frontline, and Golden Ocean, has signed a long-term time charter agreement with Singapore’s Consort Bunkers for four new methanol-ready bunker tankers.
These 6,500-dwt IMO type 2 tankers are being built by Merchants Jinling shipyard in Nanjing, China, and will be operated by Consort Bunkers for TFG Marine. Deliveries are expected to start in late 2024 and continue into 2025.
The vessels will be able to carry TFG Marine’s 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 deal is part of TFG Marine’s ongoing efforts to update our fleet with modern bunker barges that can transport low-carbon fuels to support decarbonization in shipping,” stated TFG Marine’s Global Head of Bunkering, Kenneth Dam.
S.K. Yeo, Director and General Manager of Consort Bunkers, added: “With the Maritime and Port Authority of Singapore planning to launch a methanol bunkering licensing framework soon, we are backing TFG Marine’s aim to lead in supplying low-carbon fuels to shipping companies in this global bunkering hub.”
In January 2024, the company announced a partnership with Fratelli Cosulich Group for a methanol dual-fuel bunker barge due to arrive in late 2025, set for operation in the Port of Singapore.
