Cargill’s Ocean Transportation business and Hafnia have established Seascale Energy, a joint venture combining Cargill’s Pure Marine Fuels and Hafnia’s Bunker Alliance, according to Cargill's release.
The venture aims to provide global marine fuel procurement services, focusing on cost efficiency and transparency.
“Cargill and Hafnia’s global reach and trading strength, coupled with maritime operational excellence, create a first-class solution for bunker management,” said Jan Dieleman, President of Cargill’s Ocean Transportation business. “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.”
Seascale Energy intends to consolidate bunker purchasing volumes to achieve competitive pricing and offer tailored procurement solutions. The venture will operate a global port network.
“Seascale Energy represents our shared vision to simplify and innovate the increasing complexities in the bunkering segment,” said Hafnia CEO Mikael Skov. “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 utilize data-driven insights for decision-making and address evolving fuel regulations. Seascale Energy will initially manage approximately 7.5 million metric tons of bunkering volume. The entity will be jointly owned and governed by Cargill and Hafnia, with a dual-CEO structure. Operational commencement is scheduled for the second quarter of 2025, subject to regulatory approvals. Over 25 personnel from both companies will operate from Singapore, Geneva, Copenhagen, and Houston.
Cargill is a privately held global food corporation that operates in various sectors, including agriculture, food processing, and risk management, with a wide range of products and services.
Hafnia is a tanker company specializing in the transportation of oil and chemical products, operating a large fleet of modern vessels and providing integrated shipping solutions.