Company Description

We are principally engaged in the trading of oil related products, which can be broadly categorized into (i) crude oil and (ii) oil-based products such as fuel oils, motor gasoline, additives, gas condensate, base oils, asphalt, petrochemicals and naphtha (heavy gasoline). We trade our products across multiple countries in Southeast Asia, East Asia and the Middle East, and we have established a presence in the oil trading markets in these countries. For the financial years ended December 31, 2023 and 2024, our total trading volume increased by 17.7% from 3,261 kBBLs (where 1 kBBL is equal to 1,000 barrels of oil) to 3,838 kBBLs, respectively. For the financial years ended December 31, 2023 and 2024, our total trading revenue increased by 8.9% from US$289,166,000 to US$314,916,000, respectively. Crude oil trading represents a core aspect of our business as it accounts for a significant portion of our revenue. For the financial years ended December 31, 2023 and 2024, trading in crude oil represented 87.2% and 53.8% of our total trading revenue, respectively. The trading in various oil-based products make up the rest of our total trading revenue and for the financial years ended December 31, 2023 and 2024, these make up 12.8% and 46.2% of our total trading revenue, respectively. We typically enter into back-to-back agreements with our suppliers after our customer has agreed on the terms of the purchase so as to reduce our exposure and trading risks. We may also enter into swap agreements or trade in oil and oil-based products derivatives to further hedge our positions. We leverage on our strong existing relationships with our customers and suppliers as well as our deep experience and understanding of the oil industry to provide certain value-added services to our customers. This includes recommending to our customers optimal trading strategies tailored to their specific needs, and providing shipping and logistical support where required. In addition, our financing capabilities allow us to extend credit terms to our customers while satisfying the immediate payment terms required by our suppliers. --- We were incorporated in the Cayman Islands as an exempted company on May 16, 2024. Our registered office in the Cayman Islands is at Cricket Square, Hutchins Drive, PO Box 2681, Grand Cayman, KY1-1111, Cayman Islands. Our principal executive office is at 883 North Bridge Road #04-01, Southbank, Singapore 198785. Our telephone number at this location is +65 6291 3184. Our principal website address is https://ir.delixy.com. Our agent for service of process in the United States is Cogency Global Inc., 122 E. 42nd Street, 18th Floor, New York, New York 10168.