Marine fuel trading firm FLEX Commodities has launched its first physical supply operation, setting up a joint venture in Walvis Bay.
The firm has launched a partnership with GAC Investment CC to supply VLSFO and LSMGO at the Namibian port from November 24, Rakesh Sharma, FLEX’s managing partner, said in an interview with Ship & Bunker. GAC will manage local port engagement and ensure full regulatory compliance.
Sharma, the former chief operating officer of Oilmar, set up FLEX Commodities in September 2024.
“Walvis Bay offers a strong combination of growing demand, efficient port infrastructure, and clear regulatory processes, supported by experienced local partners and authorities,” Sharma said.
“This makes it an ideal, strategically located hub to anchor our West Africa physical supply ambitions while delivering reliable service to vessels routing via the Cape.”
The firm will use the SIRE-approved barge Splendour Opal, with CAP Rating 1, for deliveries of ISO 8217:2010/2017-compliant VLSFO and LSMGO at Walvis Bay.
“The Splendour Opal can carry around 14,300 mtof product, and for the Walvis Bay startup we are loading approximately 13,000 mt of VLSFO and 1,200 mt of LSMGO to ensure robust availability from day one,” Sharma said.
The company will be able to deliver both at anchorage and offshore, with offshore deliveries requiring 48 hours’ notice and a bunkering permit from the Directorate of Maritime Affairs.
Biofuel Plans
FLEX Commodities is also considering adding biofuel blends and other grades to its Walvis Bay offering in future, though it does not yet see demand emerging in the short term.
“Today the focus is on conventional grades, as this is where immediate demand lies in West Africa,” Sharma said.
“However, the Splendour Opal and our operating model are designed to handle a wider range of blends in future, and we will introduce lower‑carbon options once demand and regulatory signals justify sustained supply.”
Return to Suez
African bunkering locations like Walvis Bay have benefited in recent years from ships avoiding the Suez Canal because of Houthi attacks of Yemen, taking longer voyages around Africa instead.
This short-term boost to local bunker demand may ease off over the course of next year, with major container lines including AP Moller-Maersk and CMA CGM now reportedly planning a return to the use of Suez.
But FLEX Commodities expects Walvis Bay to retain strong demand despite this.
“A full normalisation of Suez routes would certainly rebalance some global bunker flows, and Africa would feel part of that shift,” Sharma said.
“That said, Walvis Bay and the wider Namibian corridor now have a strong intrinsic demand base and a clear role as a Cape refuelling hub, giving this operation a long-term foundation and room to scale as regional trade grows.”