Cargill and Maersk Tankers team on bunkering with eye on biofuels

February 23, 2021 |

In Switzerland, Cargill and Maersk Tankers are embarking on a strategic partnership to combine their bunker volumes, offering a new bunker procurement service to tramp shipping companies and trading houses. The initial goal is to procure bunker fuel for Cargill and Maersk Tankers’ combined fleet, while aiming to attract additional customers in the coming months. The service will leverage Cargill’s in-house bunker expertise and Maersk Tankers’ commercial and operational capabilities and will launch on April 1, 2021.

Cargill currently charters a fleet of around 700 vessels and procures 2.5 million tons of marine fuel per year. Maersk Tankers will add the volume stemming from its commercially managed fleet of more than 220 product tankers, increasing the joint annual bunker volume to 3.5 million tons. The increased scale and one voice approach will give access to better prices and services, leveraging relationships with key suppliers in the world’s busiest bunkering hubs to ensure optimal service and bunker premiums.

As the maritime industry transitions towards carbon-neutral to meet the IMO’s target to reduce GHG by 50% by 2050, the bunker market will go through a radical transformation. Cargill and Maersk Tankers are united in their firm commitment to accelerate decarbonization and are building expertise in the use of new fuels and technologies. The new bunker service will provide unique access to future marine fuels, including Cargill’s growing internal biodiesel business.

Category: Fuels

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