TFG Marine taps eBDNs for USD300 million working capital facility from DBS

Global marine fuel supply and procurement firm TFG Marine on Wednesday (6 May) said it has signed a working capital financing facility of up to USD300 million with DBS Bank (DBS). 

The facility will contribute to funding TFG Marine’s working capital requirements, further strengthening the company’s liquidity position and underpinning its operations as one of the world’s leading physical suppliers of marine fuels.

Supported by TFG Marine’s collaboration with both ZeroNorth and Singapore Trade Data Exchange Services Pte. Ltd. (SGTraDex), electronic bunker delivery notices (eBDNs) will be provided to support efficient and reliable audit and verification of transactions financed by the facility.

The use of eBDNs, facilitated through the ZeroNorth and SGTraDex platforms, provides a verifiable, real-time digital record of bunker deliveries and builds on TFG Marine’s existing collaboration with ZeroNorth in the deployment of this technology. The two companies have worked together to roll out digital bunker delivery solutions across multiple regions, including the first deployment of an eBDN solution in the Middle East at the Port of Sohar, Oman.

Bennett Pekkattil, Chief Financial Officer of TFG Marine, said: “We are grateful for DBS’ support and encouraged by their recognition of the greater need for digital transparency in the marine fuels industry. We hope that more financial institutions will follow their lead, and we look forward to continuing to develop our digital capabilities in support of more efficient and resilient supply chains. By deploying electronic bunker delivery notices through our collaboration with ZeroNorth and SGTraDex, we continue to advance our transparency and data integrity objectives.”

Terence Yong, Global Head of Sales, Global Transaction Services at DBS Bank, said: “Through this deal with TFG Marine, we are proud to have championed a further benchmark in digital trade financing, now for the marine fuel industry. This digital financing solution provides expanded trade capacity, improves transparency and operational efficiency, reduces trade risk and eliminates friction. 

“This is especially relevant to Singapore as the world’s leading bunkering hub. We are grateful to have once again advanced business impact through innovation, underscoring a success factor of the longstanding strategic relationship between DBS and TFG Marine.”

Nicolas Queru, Chief Growth Officer at ZeroNorth, said: “This transaction is a great example of the growing financial value of trusted data. Greater transparency can strengthen confidence across the transaction chain and improve access to capital. We are proud to support TFG Marine in demonstrating the tangible financial value digital infrastructure can create.”

Jefferson Wong, CEO of SGTraDex Services and COO of DEX, said: “We congratulate TFG Marine and DBS on this landmark facility. As early participants of the data exchange utility, both organisations have been instrumental in digitalising the marine fuels sector. 

“This collaboration marks a shift from on-request use of eBDNs to a model where banks can access eBDNs on-demand, paving the way for the digital document to become integral to marine fuel financing. SGTraDex and DEX remain focused on providing the neutral, secure data infrastructure necessary to scale such initiatives and invite more players to onboard this interoperable ecosystem.”

Related: TFG Marine to launch of ZeroNorth e-BDNs at Port of Sohar after Singapore success

Photo credit: TFG Marine
Published: 7 May, 2026