CMB.TECH will increase its stake in TFG Marine from 10% to 15% and commit to sourcing bunker fuel requirements for its fleet and affiliates through the joint venture from June 1, 2026.
The revised shareholder structure will leave commodity trader Trafigura with a 70% stake in TFG Marine, while tanker owner Frontline and CMB.TECH will each hold 15%.
CMB.TECH said the expanded partnership follows its acquisition of a 10% stake in TFG Marine through the takeover of dry bulk shipowner Golden Ocean last year.
The company said routing all bunker procurement through TFG Marine would give it access to the supplier’s global network spanning more than 35 bunkering hubs worldwide.
“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,” Kenneth Dam, executive director of TFG Marine, said.
Alexander Saverys, CEO of CMB.TECH, said the company had decided to centralise its bunkering requirements through TFG Marine after seeing the quality of service provided following the Golden Ocean acquisition.
TFG Marine said the deal supports its strategy of expanding through closer partnerships with major shipping groups.
