World News
World Fuel Services Renews Share Buybacks
World Fuel Services Corporation [NYSE:INT] (WFS) has renewed its share buyback program, the company announced this week.
The company's last round of buybacks was authorized last May.
WFS said that it had been authorized by its board of directors to buy back up to $100 million worth of its shares.
There will be no minimum purchase and no expiration date unless the company chooses to set one in the future.
The purchases can also be made on the open market or through privately negotiated transactions.
"This expansion of our share repurchase program, combined with our recent dividend increase, demonstrates our commitment to delivering increased value to our shareholders," said CEO and Chairman Michael J. Kasbar.
"These actions complement our ongoing value-creating initiatives, including the use of capital to invest in strategic growth opportunities, both organically and through acquisitions."
Last month, WFS reported "solid" first quarter earnings, with its marine segment having reported that gross profit had increased 3 percent year-over-year.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 625.00 | 9.00 | 732.00 | 15.00 |
| Rotterdam | 577.50 | 3.50 | 739.50 | 1.00 |
| Houston | 595.00 | 0.50 | 767.00 | 4.50 |
| Fujairah | 628.50 | 4.00 | 878.50 | 11.00 |
| Global 20 Ports Average | 645.50 | 0.50 | 827.00 | 5.00 |
| Global 4 Ports Average | 606.50 | 0.50 | 779.50 | 0.50 |
| Global Average Bunker Price | 703.50 | 4.00 | 886.00 | 6.00 |
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