January 17, 2025 (Globalinvestorideas.com Breaking Stock Market News and Commentary) Oman and Singapore – Oman Oil Marketing Company (OOMCO) and TFG Marine, the leading international marine fuel joint venture founded by Trafigura, Frontline and Golden Ocean, have established a bunker fuel joint venture to supply vessels visiting Oman’s ports of Duqm, Muscat and Sohar.
TFG-OOMCO LLC, incorporated in Oman, will combine the local knowledge of OOMCO with the international footprint, sourcing of all grades of marine fuels, infrastructure and logistics capability of TFG Marine, to offer customers a reliable and transparent bunkering provider in the Arabian Gulf.
As stated by Mr. Tarik Al Junaidi, the CEO OF Oman Oil Marketing Company: “This partnership aligns with Oman Oil Marketing Company’s efforts to develop the maritime transport and shipping infrastructure in Oman, which is in alignment with the objectives Oman Vision 2040. It underscores our commitment to meeting the increasing demand of compliant, high-quality marine grades of fuel while adhering to the highest international health, safety, and environmental standards. Through our partnership with TFG Marine, the adoption of cutting-edge technologies and the implementation of global best practices in fuel bunkering, we strive to lead towards excellence and sustainability in the bunker fuel business in the Sultanate’s ports.”
Mr. Mark Russell, Chief Commercial Officer, TFG Marine added: “This is TFG Marine’s first venture in the Middle East and we look forward to serving our customers in this region. Oman has a rich history as a maritime nation and is well located close to the main shipping routes connecting the Arabian Gulf and the Indian subcontinent with the rest of the world.”
Today’s announcement follows the signing of an MOU agreement between SOHAR Port and Freezone and TFG Marine, to establish an international bunker fuel supply operation. TFG Marine’s has already deployed bunker vessel the Margherita Cosulich to the region to supply vessels at SOHAR’s deep-sea port. The vessel is fitted with a Mass Flow Meter (MFM), calibrated to the ISO 22192 international standard as required by SOHAR Port. TFG Marine has long been an advocate of the global adoption of calibrated MFMs to bring much-needed transparency to bunkering and encouraging digitalisation in the long-term interests of the bunker industry and helping to further the decarbonisation goals of the shipping industry.
For further information, please contact:
TFG Marine Press Office: Tel +41 (0) 22 592 4528 or Email: media.tfg@tfgmarine.com
About Oman Oil Marketing Company
Oman Oil Marketing Company (OOMCO) operates one of the largest networks of service stations in the Sultanate, along with a host of complementary services that go far beyond fuelling your vehicle. With 100 percent Omani ownership, OOMCO stands out in the fuel sector, as 49 percent of its shares are owned by OQ, Oman’s government-owned integrated energy group, while the remaining shares are held by government authorities, pension funds, shareholders, and individuals. Oman Oil Marketing Company (OOMCO) is continuing to expand its global footprint with operations in Saudi Arabia and Tanzania embarking on a journey to achieve strategic growth. OOMCO is a market leader with a market share of over 40 percent in Oman’s domestic fuel business. OOMCO’s operations involve: Retail fuels (B2C), Commercial fuels: direct sales (B2B); Lubricants, Shop and food services, Aviation fuels, Storage and distribution, Marine fuels. Visit https://www.oomco.com/
About TFG Marine
TFG Marine is a leading international marine fuel supply and procurement joint venture between physical commodity trading company Trafigura Group Pte and shipowning companies Frontline Ltd and Golden Ocean Group Ltd. Formed in 2020, the company provides modern, simplified and transparent services that bridge every stage of the bunkering process for its customers, supplying over 10 million metric tonnes of marine fuels per annum across 35 strategic bunkering hub locations globally.
A recent whitepaper sponsored by TFG and other key stakeholders recognises the success of Singapore’s MFM-based bunker licensing system and proposes this as a template for regulators in other regions across the world, promoting transparency and encouraging digitalisation in the long-term interests of the bunker industry and helping to further the decarbonisation goals of the shipping industry.
Visit: www.tfgmarine.com
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