Cargill and Hafnia launch Seascale Energy

(Posted on 01/03/25)

Cargill’s Ocean Transportation business and leading 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 fuel innovations.

By consolidating bunker purchasing volumes, the venture will secure even more competitive pricing and terms while providing tailored procurement solutions to meet its customers' diverse needs. It will also offer an expanded global port network, giving customers a consistent, high-quality fuel supply worldwide.

“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.”?

The joint venture offers shipowners and charterers improved transparency and scale, enabling them to secure competitive deals and benchmark performance. Tailored procurement services will reduce internal costs, freeing resources for customers to focus on their core operations.

“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 rely on data-driven insights for optimized decision-making and serve as a center of expertise for navigating evolving fuel regulations and technologies. Seascale Energy will initially represent close to 7.5 million metric tons in bunkering volume and will further its strong growth aspirations to increase scale.

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.

Latest News

Bunge closes agreement to acquire NWT grain elevator assets

Bunge has successfully closed its purchase agreement for the grain elevator assets of North West Terminal... Read more

NGFA applauds Senate committee for advancing Grain Standards Act reauthorisation

The National Grain and Feed Association (NGFA) in the USA has applauded the Senate Agriculture Committee... Read more

Rio Tinto announces board changes.

As Rio Tinto previously reported, the size of its Board peaked at 14 Directors during a transitional... Read more

ADM advances quality capabilities with new central milling laboratory

ADM , a global leader in human and animal nutrition, has celebrated the opening of its new Central Milling... Read more

Bunge announces reporting segment changes and recast outlook

Bunge Global SA has announced that it has changed its segment and volume reporting to align with the... Read more

Open Trade Coalition calls for bold and open EU trade policy

As the European Parliament prepares for the confirmation hearings of the new Commissioners, the Open... Read more

Rio Tinto Q3 results show strong production across the portfolio

Multinational mining company, Rio Tinto, has releases its third quarter 2025 production results showing... Read more

Robe River JV to invest $733m to extend Western Australia iron ore mine

Rio Tinto, Mitsui and Nippon Steel will invest $733 million1 (Rio Tinto share $389 million) to develop... Read more

Cargill deploys AI robot dog 'Spot' to enhance safety, reliability and innovation

Cargill has introduced Boston Dynamics’ four-legged robot, Spot, at its Amsterdam Multiseed crush... Read more

Holcim strengthens West Australia presence with BGC acquisition

Holcim Australia has announced that Cement Australia (CA) - its joint venture with Heidelberg Materials... Read more