TFG Marine and Vilma Oil announced today the acquisition deal, marking a strategic shift in the bunkering industry. TFG Marine, a prominent player in international marine fuel supply, has agreed to acquire a majority stake in the Spanish bunkering company Vilma Oil Med, located in the Port of Ceuta in the Strait of Gibraltar.
The acquisition, subject to customary closing conditions and regulatory approvals, signifies TFG Marine’s commitment to strengthening its foothold in the West Mediterranean region. Vilma Oil Med, with a remarkable eighteen-year legacy, has carved a niche for itself in delivering top-notch bunkering services, boasting an 84k cbm storage terminal and a bunkering barge catering to over 1,500 vessels annually.
Kenneth Dam, TFG Marine’s Global Head of Bunkering, expressed enthusiasm about the acquisition, stating, “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.” He also highlighted TFG Marine’s dedication to transparency and sustainability by fitting the bunkering vessel with a mass flow meter calibrated to the ISO 22192 international standard.
Ernesto Fernández-Maquieira, Head of Marine Fuels at Vilma Oil Med, echoed Dam’s sentiments, expressing excitement about joining forces with TFG Marine. “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,” he remarked.
TFG Marine, formed in 2020 as a joint venture between Trafigura Group Pte, Frontline Ltd, and Golden Ocean Group Ltd, has been at the forefront of advocating for transparency and digitalization in the bunkering industry. With a global presence across 35 strategic bunkering hub locations, TFG Marine supplies over 10 million metric tonnes of marine fuels annually.
The company’s advocacy for calibrated Mass Flow Meters (MFMs) as a means to enhance transparency and promote digitalization has been reinforced through recent initiatives. TFG Marine sponsored a whitepaper, alongside key stakeholders, advocating for the adoption of Singapore’s Mass Flow Meter-based bunker licensing system as a global template. This initiative aligns with the long-term interests of the bunker industry and supports the decarbonization goals of the shipping industry.
The acquisition of Vilma Oil Med underscores TFG Marine’s commitment to innovation, transparency, and sustainable growth, positioning the company as a key player in the evolving bunkering landscape.
Source TFG Marine