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 posts drop in Q4 gross profit, revenue

$77m loss from operations posted for the last quarter of 2017.



Calculator. Image credit: File image / Pixabay


Updated on 23 Feb 2018 14:33 GMT

World Fuel Services reported on Thursday that its marine division achieved a fourth-quarter (Q4) gross profit of $29.0 million, which was a year-on-year (YoY) decrease of $4.5 million, or 13.4 percent, on the $33.5 million achieved during the corresponding period in 2016.

In Q4, marine revenue also declined - falling $119.7 million, or 5.6 percent, to $2,025.3 million.

In terms of income from operations, which is essentially gross profit minus fixed operating expenses and depreciation, WFS posted a $77.7 million loss. During the corresponding period in 2016, WFS reported a loss of $2.5 million.

As previously reported, WFS posted a YoY and QoQ decline in Q4 marine sales at 6.1 million tonnes.

WFS also recorded a non-cash impairment charge of $91.9 million in Q4, which was said to be primarily related to the firm's marine segment as a result of growing weakness in the maritime industry along with a further decline in demand for price risk management products and its decision to exit certain marine markets.

During the fourth quarter, WFS appointed IT specialist Stephen J. Gold to its board of directors. Gold has more than 30 years of information systems management experience. The company also hired former IBM CIO Jeff Smith as its COO.






Related Links:

World Fuel Services sold 26.5m tonnes of marine fuel in 2017
World Fuel Services posts 2017 loss as marine gross profit falls 16%
World Fuel Services tops Aegean's list of approved debtors
Birns: WFS could see improved marine hedging activity and margins with rising prices
WFS marine: higher revenue, lower gross profit and sales volume
World Fuel Services Corp.
United States

Latest News:

EGCSA 10th anniversary workshop to be held in London
EGCSA member survey reveals scrubber system increase
Oil and fuel oil hedging market update
Many unresolved issues left for last PPR meeting before 2020: IBIA
Volatility and supply
IBIA calls for bunker sample verification guidelines before 2020
GP Global inks accord to produce and market Cepsa marine lubes in India
Oil and fuel oil hedging market update
North P&I launches guide on avoiding and defending bunker disputes
Build in stockpiles and record high U.S. oil production
IMO working group develops plan to help ships prepare for 2020
Oil and fuel oil hedging market update




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