Cargill Ocean Transportation is partnering with top tanker shipping company Hafnia to create Seascale Energy – a new joint venture that merges Cargill’s existing bunker business, Pure Marine Fuels, with Hafnia’s Bunker Alliance. As a global leader in the industry, Seascale Energy strives to revolutionize the procurement of marine fuels by providing significant cost reductions, enhanced and updated information, along with innovative strategies to make the use of green fuels a reality.
Such new initiatives that consolidate volumes of bunker purchases will develop more attractive commercial offers for customers while addressing their different procurement needs. Also, the scope of ports available to clients will be greatly expanded, ensuring uninterrupted access to quality fuels around the world.
As stated by the President of Cargill‘s Ocean Transportation business, “Cargill and Hafnia’s trading scope and operational efficiency are complemented by their maritime capabilities which offers a distinctive solution to bunkering.” He further commented, “While working together we are redefining the future of fuel procurement as more sustainable and value-driven in the context of industry energy transition as well as transparency, quality and decarbonization.”
Now, shipowners and charterers are able to take advantage of competitively priced integrations with ease to compare and evaluate cost. Such tailored systems will internalize these costs, enabling the customers to focus on core business functions.
“Mikael Skov, CEO of Hafnia, commented on the new company by saying, ‘Seascale Energy includes what we all strive to accomplish; make new yet simple solutions to existing problems within the bunkering industry.’ The new company will absorb the operational productivity of a large portion of fuel consumed in the system thereby contributing towards an improvement in productivity for the maritime industry.’”
The new joint venture compliments existing business activities by making data driven insights available for advanced decision automation and serves as a competence center for the ever-changing fuel legislations and technologies. Seascale Energy’s initial scale estimates are at 7.5 million metric tons worth of bunkering volume which will be further increased with the company’s growth ambitions.
Hafnia and Cargill have agreed to establish Seascale Energy as a joint venture equally controlled by the two firms and managed through dual CEO structure. Operationalization is expected for Q2 2025 after sufficient purchase authorizations have been acquired. The company’s co-CEOs will be Olivier Josse from Cargill and Peter Grunwaldt from Hafnia.
In total, Cargill and Hafnia are relocating over 25 employees to Seascale Energy’s headquarters, which are located in Singapore, Geneva, Copenhagen, and Houston.
