Fuel Oil

What we do

LET is one of the most long established and active independent physical traders in the global fuel oil market. Every month, we ship more than 3m tonnes of fuel oil and are one of the world’s largest suppliers of feedstocks to refiners.

We have a large and increasing share of the bunker market, driven by the establishment of strong long term relationships with fleet owners. We have also built an extensive and expanding network of storage terminals – both owned and leased – in key strategic locations.

Where we do it

LET trades fuel oil globally. We have extensive storage facilities including Rotterdam, Fujairah, the Caribbean and Singapore. We source high sulphur fuel oil from markets such as Mexico, the Middle East and the former Soviet Union, to ship to Asia and take low sulphur fuel oil from the USA and Europe, often to Asia. Feedstocks are frequently sourced from Europe, North and West Africa and shipped to refiners in the US Gulf Coast. To facilitate these movements we charter over 450 vessels per annum.

How we do it

We have the flexibility, speed and logistics expertise that our customers need and expect. Our longevity and success stems from our ability to add value beyond simply moving physical product. LET is resolutely customer focused, providing physical fuel oil solutions, and stocks all over the world. We also have the experience and in-house blending expertise to meet refiners’ widely varying demands for different blends of feedstock.

We are able to optimise the value of a seller’s stream and to meet and exceed the demands of refinery, bunker and vessel owners. We succeed by being consistently dynamic, innovative and well-informed.