FUEL OIL, which is distilled from crude oil and often left as residue during the refining process, refers to a range of the least volatile and heaviest of the commercially used fuels. Some 10% of fuel oil produced is used to power large ships. A further 15% is used for heating and the remainder is used by refineries as feedstock for further upgrading.
Today, the bulk of world demand, up to 40%, is for bunkers. We serve the main fuel centers in Singapore, Dubai and Rotterdam. We also supply bunker fuel on trade routes to the emerging market of Africa and South America.
Because fuel oil generally trades at a discount to crude, refiners want to reduce the amount they produce in favor of refined products.
We have built up long-term commercial relationships in the market-place. Our customers include oil majors, national oil companies and independent wholesalers and retailers.
We work closely with refineries in Latin America, Europe, the former Soviet Union and other territories.
We supple wholesale and retail providers in the US, Asia and Africa.
We have built up a global physical business by focusing on customer requirements. We ensure on-time supply to our customers, wherever they are located.
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