Fuel oil, is the residue from distilling crude oil 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. We are an established fuel oil trader, with storage facilities – both owned and leased – in strategic locations including Rotterdam, Fujairah (UAE), Singapore and the Caribbean. Every month we ship approximately 3.8 million tonnes of product, around half of which is used by refineries as feedstock. We are increasingly serving the marine fuel bunkering market through long-term partnerships with fleet owners, distributors and bunkering companies, as well as our investment in Marine Oil, one of the world’s largest resellers of bunker fuel.
We add value for our fuel oil customers in numerous ways, such as deploying in-house blending capabilities to ensure we meet the requirements of fleet owners and refiners. We also use our expertise and market reach to help sellers optimise the value of their streams.