TFG Marine signs up for methanol newbuilds

TFG Marine, Trafigura’s marine fuel supply joint venture with John Fredriksen’s Frontline and Golden Ocean Group, has inked a long-term time charter deal with Singapore’s Consort Bunkers for four newbuild bunker tankers capable of carrying methanol.

The 6,500-dwt IMO type 2 units are currently under construction at China Merchant Jinling Shipyard and will be operated by Consort Bunkers for TFG Marine.

Deliveries will start in late 2024 and continue into 2025. The vessels will carry 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, the company said.

The newbuild charters expand on TFG Marine’s initial investment in low-carbon fuel bunkering infrastructure. In January 2024, the company struck a deal with Italian owner Fratelli Cosulich for a methanol dual-fuel bunker barge to be delivered in late 2025 and deployed in Singapore.

Consort was one of the first to answer Singapore’s call to get the infrastructure in place for shipping’s future fuel mix, where methanol will play a significant role. Earlier this year, the company also signed a contract with COSCO Shipping Heavy Industries (Guangdong) for a series of four 7,999 dwt methanol bunker tankers for delivery in 2026.