Cargill’s Ocean Transportation business and tanker shipping company Hafnia have joined forces to launch Seascale Energy, a joint venture, combining Cargill’s existing bunker business Pure Marine Fuels and Hafnia’s Bunker Alliance.
By combining the strengths of two global players, Seascale Energy aims to set a new standard for marine fuel procurement by delivering considerable cost efficiencies, transparency, and access to sustainable marine fuel innovations.
By consolidating bunker purchasing volumes, the venture is hoped to secure more competitive pricing and terms while providing tailored procurement solutions to meet its customers’ diverse needs. It will offer an expanded global port network, aiming to give customers a consistent, high-quality fuel supply worldwide.
Jan Dieleman, Cargill Ocean Transportation president, said: “Cargill and Hafnia’s global reach and trading strength, coupled with maritime operational excellence, create a first-class solution for bunker management. Our vision is to lead the energy transition in shipping, unlocking value for our stakeholders while addressing industry challenges around transparency, quality, and decarbonisation. Together, we are shaping a more sustainable future for marine fuel procurement.”
The joint venture is expected to offer shipowners and charterers improved transparency and scale, enabling competitive deals and benchmark performance. Tailored procurement services could reduce internal costs, freeing resources for customers to focus on their core operations.
Hafnia CEO Mikael Skov said: “Seascale Energy represents our shared vision to simplify and innovate the increasing complexities in the bunkering segment. As one of the largest services of its kind, led by two large-scale fuel users, we are committed to improving efficiency and addressing industry challenges to benefit our stakeholders across the maritime sector.”
The joint venture will rely on data-driven insights for optimised decision-making and serve as a centre of expertise for navigating evolving fuel regulations and technologies. Seascale Energy will initially represent close to 7.5m tons in bunkering volume, with further growth aspirations. Seascale Energy will be owned jointly and equally by Cargill and Hafnia.
The new entity will be jointly governed and will operate under a dual-CEO structure (Olivier Josse, Cargill and Peter Grünwaldt, Hafnia). Business operations will commence in the second quarter of 2025 subject to pending regulatory approval. Over 25 team members from Cargill and Hafnia will operate under Seascale Energy from Singapore, Geneva, Copenhagen, and Houston.
Image: Seascale Energy combines Hafnia and Cargill’s bunkering operations (source: Hafnia)
