TFG Marine to lease 4 new methanol bunker barges from Consort Bunkers
July 29 (Reuters) -TFG Marine, a marine fuel supplier majority owned by commodities trader Trafigura TRAFG.UL, said on Monday it signed a long-term agreement with Consort Bunkers to charter four new barges that can deliver various low-carbon fuels to ships.
The shipping sector is striving to meet decarbonisation targets by using low-carbon fuels ranging from biofuels to methanol and ammonia to reduce emissions.
TFG Marine is one of the top three bunker fuel suppliers in Singapore, the world's top refuelling port. It will take delivery of the four 6,500-deadweight ton IMO type 2 tankers in late 2024 and into 2025, it said in a statement.
These barges will form part of TFG Marine's ongoing efforts to renew its fleet to carry low-carbon fuels that will help shipping to decarbonise, said Kenneth Dam, TFG Marine's global head of bunkering.
"We see a multi-fuel future for our industry, with methanol, biofuels, ammonia, and more all playing a role alongside traditional marine fuels in meeting the goals of the Paris Agreement," he said.
The vessels will be capable of carrying conventional marine fuels and biofuels up to B100, as well as any grade of liquid methanol in the future, TFG Marine said.
These tankers will be equipped with Mass Flow Meters (MFM) to accurately measure bunker flows for transparency, it added.
In January, TFG Marine agreed to lease a methanol dual-fuel bunker barge being built by the Fratelli Cosulich Group to be delivered in late 2025 for marine fuel sales at the Singapore port.
Other partners in TFG Marine include shipowners Frontline FRO.OL and Golden Ocean GOGL.O.
Reporting by Haridas; Editing by Florence Tan and Susan Fenton
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