We sit at the heart of global energy flows, moving energy and bulk materials from source to customer as quickly, responsibly and cost-effectively as possible. Our business is founded on the long-term relationships we’ve built with our customers, on our expertise, market understanding and reputation for reliably delivering the required products, on time and on specification.
Coal, a sedimentary rock composed mainly of carbon, is used to produce electricity or heat through combustion. It currently meets nearly a third of the world’s energy needs and produces approximately 40% of global electricity. We trade, are involved in production and have long-term supply contracts with mining companies world-wide. Our logistics network uses a dedicated fleet of dry bulk vessels operated on time charter. We are investing in the development of port and loading facilities serving the key coal trading routes. In addition, we have long-term capacity rights in several other port or terminal facilities.
Crude oil is a natural fossil fuel which, once refined, is used to create most of the energy sources used industrially and domestically, from gasoline and diesel to power vehicles, to jet fuel for aircraft and fuel for ships. In 2016, we trade or ship around 90 million barrels of crude oil. Our crude trading business has long-standing relationships with producers and refiners world-wide. We help the former to effectively market and distribute their daily production, and the latter to secure a reliable and consistent supply of the right quality crude at the right time.