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

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



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


Updated on 27 Oct 2017 09:53 GMT

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.






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
World Fuel Services Corp.
United States

Latest News:

Singapore's record H1 was lowest six-month sales period since May-November
2020: Papering over the cracks
Nine-month high: Singapore sees rise in bunker calls as percentage of ship arrivals
Oil and fuel oil hedging market update
Pegasus has bunker craft operator licence revoked in Singapore
Singapore Q2 bunker sales lower than in 2016
Oil rises a second consecutive day but ends the week much lower
Singapore H1 bunker sales surpass 25m tonnes for first time
Brightoil explains how new exchange rules could affect its listing status
Oil and fuel oil hedging market update
Wartsila inks EUR 170m deal to retrofit scrubbers
Singapore bunker sales up YoY... but second-lowest in 16 months




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 de Janeiro
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