World News
Cargill and Hafnia Joint Venture Seascale Energy Launches
Seascale Energy, the marine fuels joint venture set up by commodities firm Cargill and tanker company Hafnia, has been officially launched.
The new company is now 'officially open for business', co-CEO Peter Grünwaldt said in a LinkedIn post on Monday.
The two partners in the joint venture told Ship & Bunker in February that they were joining forces to set up Seascale Energy, with expected combined volumes of about 7.5 million mt/year.
Grünwaldt and Olivier Josse of Cargill will jointly serve as CEO.
"Since announcing the JV back in February, the market response has been overwhelmingly positive," Grünwaldt said.
"Now it's time to get started and hit the ground running - kicking off a new chapter with a combined alliance of like-minded customers focused on efficiency and transparency in bunker procurement.
"A huge thanks to the teams on both sides who got us here - and especially to Olivier Josse for his partnership throughout."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 523.50 | 6.50 | 613.00 | 6.00 |
| Rotterdam | 472.50 | 2.50 | 630.50 | 4.50 |
| Houston | 468.00 | 2.50 | 619.50 | 4.50 |
| Fujairah | 520.00 | 13.00 | 724.00 | 10.50 |
| Global 20 Ports Average | 539.00 | 1.00 | 720.00 | 3.00 |
| Global 4 Ports Average | 496.00 | 3.00 | 647.00 | 1.50 |
| Global Average Bunker Price | 572.50 | 2.00 | 765.00 | 3.00 |
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May 13The firm will no longer take on new business after more than 45 years in bunkering. -
May 19The new company is now 'officially open for business', co-CEO Peter Grünwaldt said. -
May 19Kasper Soerensen has joined the company as head of marine fuels sourcing for the east as of this month.