TFG Marine to acquire majority ownership of Spanish bunkering company Vilma Oil Med

Singapore, 16 April 2024 – TFG Marine and Vilma Oil, today announce that TFG Marine has agreed to acquire majority ownership of Spanish bunkering company Vilma Oil Med for an undisclosed sum. The acquisition is subject to customary closing conditions and regulatory approvals. 

Over the last eighteen years Vilma Oil Med has developed a first-class bunkering service from the Port of Ceuta in the Strait of Gibraltar in the European West Mediterranean Sea. Operations are run from Madrid and include a 84k cbm storage terminal and a bunkering barge, supplying over 1,500 vessels each year. 

“Today’s announcement enables TFG Marine to supply vessels with a complete range of high-quality bunker fuel in the West Mediterranean Sea which has long been our goal,” said Kenneth Dam, TFG Marine’s Global Head of Bunkering.  “The Company’s bunkering vessel is currently being fitted with a mass flow meter, calibrated to the ISO 22192 international standard, further demonstrating our mission to bring transparency and encourage digitalisation and further decarbonisation by the bunker industry.” 

“We’re thrilled about onboarding with TFG Marine as it propels us into an exciting era of modernization and growth, promising opportunities for innovation and success,” said Ernesto Fernández-Maquieira, Head of Marine Fuels at Vilma Oil Med. 

ENDS 

For further information, please contact: 

TFG Marine Press Office: Tel +41 (0) 22 592 4528 or Email: media.tfg@tfgmarine.com  

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. 

TFG Marine has long been an advocate of the global adoption of calibrated MFMs to bring much-needed transparency to bunkering and encouraging digitalisation in the long-term interests of the bunker industry and helping to further the decarbonisation goals of the shipping industry.  A recent whitepaper sponsored by TFG and other key stakeholders recognises the success of Singapore’s Mass Flow Meter-based bunker licensing system and proposes this as a template for regulators in other regions across the world, promoting transparency and encouraging digitalisation in the long-term interests of the bunker industry and helping to further the decarbonisation goals of the shipping industry. 

Visit: www.tfgmarine.com