Baghdadi Capital launches Green Bunkers with EUR 5 million initial investment

Independent family office Baghdadi Capital recently announced the launch of Green Bunkers, the first platform in Spain to connect shipowners and charterers with fuel suppliers. 

The platform will provide price and emissions traceability, CO₂ offsetting solutions and access to financing. 

Green Bunkers begins operations with an initial investment of EUR 5 million in technology development and the opening of its first offices in Spain, which will serve as the strategic base for its global expansion.

The project will be led by Fernando Tirado, who joins as CEO with the mission of consolidating Green Bunkers’ presence in Spain while driving the rollout of green corridors across Europe, the Middle East and Southeast Asia.

In this context, the launch comes at a pivotal moment for the maritime and energy sectors. According to recent data, the bunkering industry is worth more than EUR 100 billion annually on a global scale, with global consumption exceeding 200 million tonnes of marine fuels every year (IEA/IMO). 

Spain plays a strategic role in fuel supply for vessels: the Port of Algeciras is regarded as the country’s main bunkering hub, with an estimated volume of around 3 million tonnes per year. Moreover, with the inclusion of maritime transport in the EU ETS, regulatory costs could reach between EUR 3.1 billion in 2024 and EUR 8.4 billion in 2025, according to industry impact estimates.

“Spain is already a natural hub for marine fuel supply and has a unique geostrategic position. From here, we want to lead the transition towards a more transparent, efficient and sustainable bunkering industry, driving the creation of green corridors worldwide,” said Baihas Baghdadi, Founder and Executive Chairman of Baghdadi Capital.

According to Fernando Tirado, CEO of Green Bunkers, “Green Bunkers was created to bring transparency and efficiency to a traditionally opaque sector.”

The platform will connect shipowners and charterers with fuel suppliers, enabling them to make decisions based on price, availability, emissions and regulatory compliance. It will also place up to EUR 50 million in financing, available to the market for bunkering operations, ensuring liquidity for shipowners and secure payments for suppliers.

“Our goal is to provide transparency and confidence to the industry, facilitating the transition towards cleaner fuels. The vision is that a shipowner can find in every port not only conventional fuel, but also alternatives such as hydrogen, methanol or certified biofuels, with the ability to offset their emissions in a simple and traceable way,” explained Tirado.

Among its distinguishing features are green corridors — strategic routes that will allow ships to access low-emission fuels at several consecutive ports of call — integrated carbon credit management within the EU ETS framework, and supply chain digitalisation, with full traceability of fuel origin, fleet and port monitoring, as well as carbon footprint certification.

Green Bunkers is signing agreements with port authorities to promote the supply of zero-emission fuels, manage carbon capture during transit, and deploy cold ironing solutions, which will allow ships to turn off their engines during port calls, avoiding harmful emissions and noise pollution in urban areas.

The company’s roadmap foresees an initial rollout in Spain and Europe during 2025 and 2026, with a focus on Mediterranean and Northern European ports. 

By late 2026, Green Bunkers will expand to the Middle East and Southeast Asia, extending its green corridors to key markets. A year later, in 2027, the company plans to begin operations in the Americas, with the goal of providing global coverage to shipowners and consolidating its position as a reference player in sustainable bunkering.

Photo credit: Baghdadi Capital
Published: 5 September, 2025