TGF Marine Vilma Oil Med signing

Pictured left to right) Rafael Fernandez Maquieira, CEO, Vilma Oil with Kenneth Dam, Global Head of Bunkering, TFG Marine. (Back row left to right): Andrea Cattaneo, Co-Head of Fuel Oil, Trafigura; Clara Perez, Chief Financial Officer, Vilma Oil and Ernesto Fernandez-Maquieira, Head of Marine Fuels, Vilma Oil Med.

Singapore based TFG Marine and Spanish based Vilma Oil, has announced that TFG Marine has agreed to acquire the majority ownership of Spanish bunkering company Vilma Oil Med for an undisclosed sum, with the acquisition being 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 84,000 cbm storage terminal and a bunkering barge, supplying over 1,500 vessels each year.

TGF Marine was formed in 2020 as an alliance between Trafigura, a global commodities trader, and two of the foremost shipping companies in the world, Frontline and Golden Ocean.

Kenneth Dam, TFG Marine’s Global Head of Bunkering, says that “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,” and he adds that “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., says that “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.”

Source: TGF Marine