Cargill and Hafnia Join Forces to Create Seascale Energy

Cargill Ocean Transportation, in collaboration with Singapore-based tanker shipping company Hafnia, has announced the formation of Seascale Energy, with the goal of revolutionizing marine fuel procurement services.

Seascale Energy, a merger of Cargill’s Pure Marine Fuels and Hafnia’s Bunker Alliance, will initially manage a bunkering volume of approximately 7.5 million metric tons.

“Seascale Energy embodies our shared vision to streamline and innovate the complexities of the bunkering sector,” stated Mikael Skov, CEO of Hafnia.

“As a major player in this field, driven by two significant fuel consumers, we are dedicated to enhancing efficiency and tackling industry challenges for the benefit of stakeholders within the maritime industry.”

The joint venture aims to provide reliable access to high-quality marine fuel at competitive prices, with a focus on delivering cost efficiencies, transparency, and sustainable fuel solutions.

By consolidating bunker purchasing volumes, Seascale Energy plans to secure competitive pricing and terms for shipowners and charterers, offering tailored procurement solutions and a global port network for consistent fuel supply.

“Our objective is to lead the shipping industry’s energy transition, creating value for stakeholders while addressing issues such as transparency, quality, and decarbonization. Together, we are shaping a sustainable future for marine fuel procurement,” commented Jan Dieleman, President of Cargill’s Ocean Transportation business.

The joint venture will leverage data-driven insights for optimized decision-making and serve as an expert resource for navigating evolving fuel regulations and technologies.

Seascale Energy will be jointly owned and equally operated by Cargill and Hafnia, under a dual-CEO structure led by Olivier Josse and Peter Grünwaldt. Business operations are expected to commence in the second quarter of 2025 pending regulatory approval.

Originally a partnership between Cargill and Maersk Tankers, Pure Marine Fuels offered marine fuel procurement services to tramp shipping companies and trading houses. Following Maersk Tankers’ acquisition of Penfield Marine in 2024, the partnership was dissolved.