Seascale Energy combines Cargill’s Pure Marine Fuels and Hafnia’s Bunker Alliance, consolidating an annual bunker purchasing volume of approximately 7.5 million metric tons. By leveraging economies of scale, the new entity aims to secure competitive pricing and favorable procurement terms for its customers.
According to Jan Dieleman, President of Cargill’s Ocean Transportation business, the venture merges Cargill’s trading expertise with Hafnia’s operational excellence. Seascale Energy is positioned to address key industry challenges such as fuel cost efficiency, quality assurance, transparency, and decarbonization.
A key differentiator for Seascale Energy is its commitment to transparency and benchmarking capabilities. By offering data-driven procurement solutions, the venture will help shipowners and charterers access more competitive fuel deals while streamlining their internal cost structures.
Mikael Skov, CEO of Hafnia, highlighted that the partnership aims to simplify the growing complexities of the bunker fuel market. With a shared commitment to improving efficiency, Seascale Energy is set to become a center of expertise for navigating evolving fuel regulations and alternative fuel technologies.
The joint venture will be led under a dual-CEO model, with Olivier Josse from Cargill and Peter Grünwaldt from Hafnia sharing leadership responsibilities. Seascale Energy will operate from key maritime hubs, including Singapore, Geneva, Copenhagen, and Houston, ensuring global market reach.
With a team of over 25 industry professionals, Seascale Energy plans to begin operations in Q2 2025, pending regulatory approvals. While the initial focus will be on leveraging its substantial existing volume, the venture has set ambitious goals for future expansion and market growth.
