Fri 16 Sep 2011, 14:21 GMT

Stebbins enters into stock trading plan


World Fuel Services CEO to sell company stock over 12-month period.



World Fuel Services Corporation has announced that its chairman and chief executive officer, Paul H. Stebbins, has entered into a pre-arranged, non-discretionary stock trading plan.

Under the newly adopted plan, beginning on October 14, 2011 and ending on October 14, 2012, Stebbins may sell a maximum of 150,000 shares, which represents approximately 20 percent of his holdings.

The company said the sales are being made for diversification and tax planning purposes and will be publicly disclosed through Form 4 filings with the Securities and Exchange Commission. The plan was adopted in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, and World Fuel Services' policies regarding stock transactions.

Rule 10b5-1 permits individuals who are not in possession of material, non-public information at the time the plan is adopted to establish pre-arranged plans to buy or sell company stock. These plans allow individuals to achieve prudent and gradual asset diversification over time.

Stebbins, who is due to step down as CEO in January 2012 and continue as executive chairman, entered into a similar stock trading plan in 2009. He sold 50,000 company shares in August 2009 after selling a similar amount of shares towards the end of July 2009.

Between August 4-5 2009, Stebbins sold 2,880 shares at a weighted average sale price of $44.9113 and 47,120 shares at an average price of $44.9597.

The previous week, the WFS CEO also sold a total of 50,000 shares between July 28-30 with 20,500 shares selling at a weighted average sale price of $42.9204 and 29,500 shares at $43.4855.

Last year Stebbins entered into a stock trading plan for the sale of a maximum of 256,000 shares between January 15, 2010 and December 31, 2010.


Delivery ceremony of Maran Myrto vessel. New Times Shipbuilding cuts steel on two crude tankers and delivers LNG dual-fuel vessel  

Chinese yard marks a busy 4 June with steel-cutting ceremonies and a tanker delivery to Maran.

Christening ceremony of Mercedes Pinto vessel. Baleària Canarias christens €128m dual-fuel fast ferry Mercedes Pinto for inter-island routes  

The catamaran will connect Tenerife, Gran Canaria and Fuerteventura with six daily departures.

AiP award ceremony for LPG dual-fuel 1,400-teu container vessel design. DNV awards AiP to HHI for LPG dual-fuel container vessel design  

Approval in principle granted for ship design targeting the underserved smaller container segment.

Olivier Josse, Alberto Pérez Espinosa and Luke Shu. Seascale Energy partners with Lloyd’s Register Advisory to build decarbonisation expertise  

The bunker firm has launched a knowledge partnership covering low-carbon fuels and maritime regulations.

CSL Kuleana vessel. CSL takes delivery of methanol-ready Kamsarmax as fleet renewal programme advances  

MV CSL Kuleana departs on maiden voyage, equipped with Tier III engines.

Peter Keller, SEA-LNG. LNG orderbook share hits 90% as methane pathway investment holds firm  

LNG bunkering volumes surge and biomethane uptake grows six-fold, despite geopolitical headwinds.

Vessel at sea with Graphyte and NYK Line logos. NYK to offset ship emissions with CDR credits from Loblolly project  

Japanese shipping group turns to biomass-based carbon sequestration to address residual maritime emissions.

Close-up view of a KESS vessel. K Line orders four LNG dual-fuel car carriers for European short-sea operations  

Kawasaki Kisen Kaisha contracts quartet of 1,380-vehicle vessels at China Merchants Jinling Shipyard.

Bunge logo. Bunge seeks bunker purchaser for Rotterdam operation  

Agribusiness is looking for candidates with experience in marine fuel procurement.

Launching ceremony of a 38,000-dwt chemical tanker with hull no. XY169. First vessel in NYK Stolt Tankers’ newbuild series launched in China  

FKAB-designed 38,000 DWT chemical tanker launched at Nantong Xiangyu Shipyard, China.