World News
World Fuel Services Sold 26.5 Million MT of Bunkers in 2017
Thursday February 22, 2018
World Fuel Services Corporation (WFS) [NYSE:INT] today, as part of its fourth quarter and full year 2017 earnings report, said it sold 26.5 million metric tonnes (mt) of bunkers in 2017, a 15.6% dip over last year's figure of 31.4 million mt.
The expected dip follows reduced quarterly volumes throughout the year that CFO Ira Birns had explained was a result of "a reduction in low margin, low return activity in Asia."
WFS said it had witnessed "growing weakness" in maritime markets over the last year, along with a further decline in demand for price risk management products.
As a result, the company's marine segment generated gross profit of $126 million, a decrease of 16% year-over-year.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 553.50 | 0.00 | 673.00 | 0.00 |
| Rotterdam | 514.50 | 0.00 | 651.00 | 0.00 |
| Houston | 545.00 | 0.00 | 671.00 | 0.00 |
| Fujairah | 543.00 | 0.00 | 747.00 | 0.00 |
| Global 20 Ports Average | 574.00 | 0.00 | 748.00 | 0.00 |
| Global 4 Ports Average | 539.00 | 0.00 | 685.50 | 0.00 |
| Global Average Bunker Price | 627.00 | 0.50 | 799.50 | 1.00 |
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