TFG Marine signs USD300 million working capital facility with DBS
Singapore, 06 May 2026 – TFG Marine Pte. Ltd. (“TFG Marine”), a leading global marine fuel supplier, has signed a working capital financing facility of up to USD300 million with DBS Bank Ltd. (“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, a pioneer in maritime digital transformation, 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."
ENDS
For further information please contact:
TFG Marine’s Press Office: +41 (0) 22 592 4528 or media.tfg@tfgmarine.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 ship-owning companies Frontline Ltd and CMB.TECH. 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.
Visit: www.tfgmarine.com
About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 17 consecutive years from 2009 to 2025.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.
DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by uplifting lives and livelihoods of those in need. It provides essential needs to the underprivileged, and fosters inclusion by equipping the underserved with financial and digital literacy skills. It also nurtures innovative social enterprises that create positive impact.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com
About SGTradex
Launched on 1 June 2022, SGTraDex is a digital utility facilitating secure data sharing across supply chain ecosystems via a common data highway. A public-private partnership founded by IMDA and industry leaders, it addresses supply chain pain points like efficiency, transparency, and interoperabilty. By streamlining information flows, SGTraDex increases productivity and builds supply chain resilience. It unlocks new efficiencies and opportunities by enabling partners to collaborate through shared, end-to-end visibility of the entire supply chain.
Visit: www.sgtradex.com
About ZeroNorth
ZeroNorth is a technology company committed to accelerating the energy transition in global shipping. Its end-to-end optimisation platform helps vessel owners, charterers and bunker suppliers improve commercial performance, reduce fuel consumption and emissions, and strengthen decision-making across the maritime value chain.
The platform analyses billions of data points at scale, combining advanced technology with maritime expertise to deliver actionable insights that support live operations. Each year, ZeroNorth generates millions of optimised routes for live vessel voyages, delivering voyage recommendations within seconds. In 2025, the use of the platform contributed to a reduction of almost 2 million metric tonnes of CO₂ emissions for customers. Founded in 2020, ZeroNorth has grown from a team of six to more than 500 employees across nine global locations.
Visit: www.zeronorth.com
