WFS sold 7.8m metric tonnes of marine fuels in the three-month period, compared sales of 8.6m metric tonnes in the same period of 2015.
The group’s marine segment posted gross profit of $37.2m for the quarter, down 23.5% from $48.6m in the year-ago period. Revenue for the marine segment also fell by 19.7% year-on-year to $1.92bn.
WFS is also involved in the distribution of fuel and related services in the aviation and land transportation industries.
Meanwhile, WFS has secured amendments to its credit facility, increasing the size of the facility by approximately $500m to $2.1bn. The facility includes a revolving credit facility and term loan. WFS also extended the term of the credit facility to October 2021.
“Execution of this amendment to our credit facility, including more favorable terms, will further enhance our liquidity profile for the next five years, providing even greater flexibility to invest in strategic growth initiatives,” said Ira Birns, executive vice president and chief financial officer of WFS.
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited. Add Seatrade Maritime News to your Google News feed.
