TFG Marine to acquire majority ownership of Spanish bunkering firm Vilma Oil Med

TFG Marine, the global marine fuel supply and procurement joint venture between Trafigura Group Pte (Trafigura) and shipping firms Frontline and Golden Ocean, on Tuesday (16 April) announced that it has agreed to acquire majority ownership of Spanish bunkering company Vilma Oil Med for an undisclosed sum. 

The acquisition is subject to customary closing conditions and regulatory approvals.

Over the last eighteen years Vilma Oil Med has developed a first-class bunkering service from the Port of Ceuta in the Strait of Gibraltar in the European West Mediterranean Sea. 

Operations are run from Madrid and include a 84k cbm storage terminal and a bunkering barge, supplying over 1,500 vessels each year.

Kenneth Dam, TFG Marine’s Global Head of Bunkering, said: “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.”

“The Company’s bunkering vessel is currently being fitted with a mass flow meter, calibrated to the ISO 22192 international standard, further demonstrating our mission to bring transparency and encourage digitalisation and further decarbonisation by the bunker industry.”

Ernesto Fernández-Maquieira, Head of Marine Fuels at Vilma Oil Med, said: “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.”

Photo credit: TFG Marine
Published: 17 April 2024