Verde Marine Energy and Eleven Energy forge strategic marine fuels alliance

Marine energy and lubricants physical supplier and trader Verde Marine Energy and Saudi-based bunkering firm Eleven Energy on Wednesday (8 July) announced a strategic collaboration that brings the two companies into a closer working relationship, creating new opportunities for growth by combining their complementary strengths and expertise across the global marine energy sector. 

The collaboration brings together Verde Marine Energy’s physical supply capabilities with Eleven Energy’s rapidly expanding international trading platform and commercial network. By leveraging each other’s expertise, resources and market reach, both companies aim to enhance the value they deliver to customers, suppliers and strategic partners while accelerating growth in existing and emerging markets. 

Both businesses will remain fully independent, maintaining their own ownership, operations, commercial strategies and business models. 

“This is a strategic alliance, not a merger or acquisition, but a partnership built on leveraging each other’s strengths while preserving the identity and independence of each company,” the companies said.   

Eleven Energy, backed by Prince Abdulaziz bin Turki Al Saud, has expanded its international presence, most recently announcing its strategic collaboration with Sunoco in the United States, further strengthening its global network. 

Part of the Vertom Group, Verde Marine Energy is a physical supplier and manages marine fuel procurement for the Vertom fleet. Backed by one of Europe’s most established maritime groups, Verde continues to expand its physical supply footprint while maintaining its reputation for reliability and customer service. 

Having already worked successfully together through periods of market volatility, the companies have demonstrated how their capabilities complement one another. This collaboration formalises that relationship and provides a stronger platform to unlock efficiencies, create new opportunities and deliver greater value across the marine energy supply chain. 

As part of this renewed collaboration, Eleven Energy CEO Chris Todd will assume a role with Verde Marine, while Verde Marine Energy Director/Head of Trading Joe Tierney will take on a role with Eleven Energy. 

In these cross-company positions, they will work closely with both organisations to oversee the strategic partnership, strengthen collaboration, and help drive its long-term success while each remaining fully committed to their respective businesses. 

Both Verde Marine Energy and Eleven Energy see this collaboration as the beginning of a long-term relationship, with further developments to be announced after the summer.

Related: Eleven Energy and Sunoco’s Marine Division form bunkering pact for Americas
Related: Saudi-based global bunkering company Eleven Energy launched

Photo credit: Eleven Energy
Published: 9 July, 2026