World Fuel Services posts flat bunker sales in H1, marine earnings dip

World Fuel Services (WFS) has announced flat bunker fuel sales in the first half ended 30 June 2016 compared to year-ago levels, while earnings for its marine business fell.

The global supplier and broker of fuel products posted bunker sales of 1.17m metric tonnes in the first six months, flat from the 1.18m metric tonnes recorded in the same period of last year.

The marine segment of WFS saw earnings fell with revenue dipping to $3.12bn in the first half compared to $5.13bn in the previous corresponding period.

Gross profit for the marine segment decreased by 17.7% year-on-year to $78.8m.

Ira M Birns, executive vice president and cfo of WFS, pointed out that the group’s consistent cash flow generation and prudent balance sheet management has enabled it to aggregate $1.2bn og operating cash flow over the past four years.

WFS is also involved in the distribution of fuel and related services in the aviation and land transportation industries.

Posted 28 July 2016

© Copyright 2019 Seatrade (UBM (UK) Ltd). Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Seatrade.

Lee Hong Liang

Asia Correspondent

Read more stories like this...

Sign up to the Seatrade Maritime Newsletter and get stories like this delivered to your inbox.

Subscribe Now >

ShipTech Storybox

Seatrade ShipTech Middle East

23 – 24 September 2019 | Madinat Jumeirah, Dubai

The knowledge hub of technological advancements for the shipping sector. Learn, discover and experience new technologies and optimise operational efficiencies.

View 2019 programme >