BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry



« News Home
:: Monthly Archive

News Topics
:: Air Pollution
:: Agreements & M&A's
:: Alternative Fuels
:: BunkerBlog
:: Cargoes & Storage
:: Company News
:: Efficiency, Costs & Charges
:: Environment
:: Events
:: Financial
:: Fuel Quality & Testing
:: Lubes & Additives
:: Oil Spills
:: People
:: Port News
:: Projects
:: Regulation, Legal
:: Services, Products,Technology
:: Statistics & Research
:: Vessels

Regional Archive
:: Americas
:: Asia/Oceania
:: Europe
:: M.East/Africa


BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
Home » News





WFS marine: higher revenue, lower gross profit and sales volume

27 Oct 2017 09:53 GMT

Marine segment saw quarterly and nine-month sales volume fall 12.8% and 13.9% respectively.



World Fuel Services reported on Thursday that its marine division recorded a third-quarter gross profit of $30.5 million, which was a year-on-year (YoY) decrease of $6.7 million, or 18 percent, on the $37.2 million achieved during the corresponding period in 2016.

For the first nine months of 2017, marine gross profit declined by $19 million, or 16.4 percent, to $97.0 million, down from $116.0 million a year ago.

The drop in gross profit for both periods was posted despite increases in revenue. In the third quarter, marine revenue rose by $146 million, or 7.6 percent, to $2,066.7 million, whilst between January and September, revenue was up YoY by $1,136.4 million, or 22.6 percent, to $6,173.9 million.

In terms of sales volume, third-quarter sales were down 1 million tonnes, or 12.8 percent, to 6.8 million tonnes YoY.

For the first nine months of the year, WFS marine volume declined by 3.3 million tonnes, or 13.9 percent, to 20.4 million tonnes.

An analysis of rolling 12-month sales over the last two years shows that volumes fell to their lowest level, 28.0 million tonnes, between October 2016 and September 2017.

Rolling nine-month sales of 20.4 million tonnes (January to September) and six-month sales of 13.6 million tonnes (April to September) were also at the bottom end of the curve.


Image: World Fuel Services Corporation illustration. Image credit: World Fuel Services




Related Links:

World Fuel Services posts third-quarter results
World Fuel Services appoints former IBM CIO Jeff Smith as COO
World Fuel Services' 12-month bunker sales drop below 30m tonnes for first time in two years
IT specialist Stephen Gold joins World Fuel Services' board of directors

Latest News:

Ceremonies held for MSC Cruises ships with scrubbers
VLCC with '20%' bunker savings delivered to K Line
Vermont Bunkering and staff charged over fraudulent transactions in Singapore
Oil market seems to be struggling to find direction
Oil and fuel oil hedging market update
Aegean expects to launch 'at least one' new bunker supply service in H1 2018
Peninsula signs storage agreement in Houston with HOFTI
Another day in bearish territory?
Oil and fuel oil hedging market update
Aegean posts net loss and 23.2% drop in gross profit
Wartsila launches gas-fuelled version of world's most efficient four-stroke engine
Singapore updates restrictions on selling bunkers to North Korean ships




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
Cape Town
Fujairah
Houston
Istanbul
Kaohsiung
Las Palmas
Maracaibo
New Orleans
Piraeus
Rio
Rotterdam
Santos
Singapore
News
Latest News
Blogs
Archive
Americas
Asia
Europe
Middle East
News
Air Pollution
Agreements & M&A's
Alternative Fuels
Cargoes & Storage
Efficiency, Costs & Charges
Environment
Events
Financial
Fuel Quality
Lubes & Additives
Oil Spills
People
Port News
Projects
Regulation/Legal
Services, Products, Technology
Statistics & Research
Vessels
Contact & Terms
Contact Us
Advertise
Terms & Conditions
Privacy Policy
Events
Upcoming Events