February 21, 2025 [Rigzone]- Cargill Inc. has joined forces with shipping company Hafnia to launch a joint venture named Seascale Energy, which initially represents 7.5 million metric tons in bunkering volume. According to a joint media release, the two companies will combine Cargill’s existing bunker business Pure Marine Fuels and Hafnia’s Bunker Alliance.
The joint venture will combine the strengths of two global players to provide enhanced cost efficiencies, transparency, and access to sustainable fuel innovations, the two companies said. By consolidating bunker purchasing, it ensures competitive pricing and tailored solutions, backed by a global port network for consistent, high-quality fuel supply, they said.
“Cargill and Hafnia’s global reach and trading strength, coupled with maritime operational excellence, create a first-class solution for bunker management”, Jan Dieleman, President of Cargill’s Ocean Transportation business, said. “Our vision is to lead the energy transition in shipping, unlocking value for our stakeholders while addressing industry challenges around transparency, quality, and decarbonization. Together, we are shaping a more sustainable future for marine fuel procurement”.
The companies said the collaboration provides shipowners and charterers enhanced visibility and scale, allowing them to obtain favorable agreements and assess performance. Customized procurement services will lower internal expenses, allowing clients to redirect resources toward their primary operations, they said.
“Seascale Energy represents our shared vision to simplify and innovate the increasing complexities in the bunkering segment”, Hafnia CEO Mikael Skov said. “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”.
Seascale Energy will leverage data-driven insights for optimized decision-making and expertise in evolving fuel regulations, the companies said.
It will have two CEOs in Olivier Josse and Peter Grünwaldt. Business operations are set to begin in the second quarter of 2025, pending regulatory approval. Over 25 team members from both companies will be based in Singapore, Geneva, Copenhagen, and Houston, the partners said.
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