Global trading giant Cargill and leading tanker shipping company Hafnia have announced the formation of Seascale Energy, a strategic joint venture aimed at transforming marine fuel procurement. This initiative merges Cargill’s existing bunker business, Pure Marine Fuels, and Hafnia’s Bunker Alliance, creating a global platform that delivers cost efficiencies, transparency, and access to sustainable fuel innovations.
Seascale Energy: A New Force in Bunker Procurement
By consolidating bunker purchasing volumes, Seascale Energy aims to secure more competitive pricing and terms, ensuring a reliable and high-quality fuel supply for shipowners and charterers worldwide. The joint venture will combine Cargill’s extensive reach in commodities trading and shipping with Hafnia’s expertise in tanker operations, creating an advanced procurement model that enhances efficiency and cost management.
Seascale Energy will provide:
- Optimized fuel procurement through economies of scale.
- A global network of ports, ensuring consistent access to quality fuel.
- Tailored fuel procurement services, allowing shipowners to focus on their core operations.
- Greater transparency and benchmarking, enabling better decision-making.
- Data-driven insights, ensuring compliance with evolving fuel regulations and sustainability standards.
Jan Dieleman, President of Cargill’s Ocean Transportation business, emphasized the venture’s transformative potential: “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 decarbonization. Together, we are shaping a more sustainable future for marine fuel procurement.”
Driving Innovation and Efficiency in Marine Fuel Supply
Hafnia CEO Mikael Skov highlighted the growing complexity in marine fuel markets and the need for innovation. “Seascale Energy represents our shared vision to simplify and innovate within 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.”
Seascale Energy will serve as a center of expertise to help shipowners navigate evolving regulations and alternative fuel adoption, reinforcing its commitment to sustainability and operational excellence.
Leadership and Operational Strategy
Seascale Energy will initially represent 7.5 million metric tons in bunkering volume, with aspirations to expand further. It will be owned equally by Cargill and Hafnia, operating under a joint governance model with a dual-CEO structure:
- Olivier Josse, Head of Bunkers at Cargill, will co-lead the venture.
- Peter Grünwaldt, Head of Bunkers at Hafnia, will serve as co-CEO.
The business will commence operations in Q2 2025, subject to regulatory approval. Seascale Energy’s operations will be headquartered across Singapore, Geneva, Copenhagen, and Houston, with over 25 team members from Cargill and Hafnia integrated into the organization.
About Cargill
Cargill is a global leader in food, agriculture, and industrial products, committed to sustainable and responsible business practices. With 160,000 employees worldwide, Cargill drives innovation across industries, ensuring essential supply chain solutions that support businesses, communities, and consumers.
About Hafnia
Hafnia is one of the world’s largest tanker companies, specializing in the transportation of oil and chemical products. With a fleet of over 200 vessels, Hafnia delivers safe, efficient, and sustainable shipping solutions. The company integrates technical management, commercial chartering, pool management, and bunker operations, serving a diverse range of global customers.
A Milestone in Marine Fuel Procurement
The launch of Seascale Energy marks a significant milestone in marine fuel procurement, delivering a next-generation approach to fuel sourcing that prioritizes efficiency, transparency, and sustainability. With strong leadership, data-driven insights, and an expansive global network, Seascale Energy is poised to reshape the marine fuel landscape for years to come.
Source Hafnia | Cargill