World News
World Kinect Reverts to Using World Fuel Brand Name
US-listed fuel supplier World Kinect is reverting to using its previous name, World Fuel, under almost all circumstances.
From now on World Kinect will only be used as the company's legal name, the firm said in a results statement late on Thursday.
World Fuel will be the company's unified brand 'for substantially all internal and external purposes', it said.
"This is a return to our roots and what we do best, and is the logical next step in our transformation," CEO Ira Birns said in the statement.
"World Fuel is the name by which our customers and suppliers know us – as a leading provider of transportation fuels and highly complementary service offerings throughout the world.
"The actions we have taken as an organization to simplify the business, prioritize higher-return activities, and strengthen our core businesses position us to deliver more consistent, scalable returns and drive long-term shareholder value."
The firm had changed its name to World Kinect, from World Fuel Services previously, in June 2023.
"This change is intended to better reflect the company's ongoing transformation into a more resilient, diversified energy and solutions provider," the company had said at the time.
"As the energy transition unfolds, this name change reflects our commitment to continue evolving alongside our customers."
The company is one of the world's largest suppliers of bunker fuel.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 889.50 | 18.50 | 1281.00 | 10.50 |
| Rotterdam | 715.00 | 13.00 | 1374.00 | 42.50 |
| Houston | 763.00 | 3.00 | 1419.50 | 4.50 |
| Fujairah | 967.50 | 20.50 | 1694.50 | 21.50 |
| Global 20 Ports Average | 895.50 | 1.50 | 1548.50 | 6.50 |
| Global 4 Ports Average | 833.50 | 12.50 | 1442.50 | 17.50 |
| Global Average Bunker Price | 959.50 | 13.50 | 1592.50 | 0.00 |
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