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World Fuel Services Corporation News

17 Jul 2023

World Fuel Services Completes First LNG Bunkering in China for Hapag-Lloyd

(Photo: World Fuel Services Corporation)

World Fuel Services Corporation has completed a milestone liquefied natural gas (LNG) bunkering operation for the refueling of a carrier at a Chinese port, with the new Hapag-Lloyd ship Berlin Express becoming only the second carrier to be refueled with bonded LNG in the port.With the support of both the Ningbo-Zhoushan Port authority and local supplier CNOOC, the dual-fuel Berlin Express took delivery of 6,000 cubic meters of bonded LNG fuel in an operation that lasted around 20 hours.

30 Nov 2015

Bunker Fuel Market Poised 460 million tons by 2020

Transparency Market Research launched its latest study on the global bunker fuel market, in terms of revenue and volume. The report predicts that the global bunker fuel market is likely to reach an estimated volume of 460 million tons by 2020. The market, therefore, is poised to exhibit a moderate 3.1% CAGR during 2014-2020, expanding from 372.30 million tons in 2013. Bunker fuel is a fractionally distilled liquid fuel derived from crude oil. Also known as fuel oil, the substance can be classified on the basis of its chemical composition, intended purpose, and boiling point. Unlike other petroleum products, bunker fuel is more polluting and highly unrefined. Apart from fuel oil, there are other middle distillate fuels, which are also used as bunker fuels.

31 Jul 2013

World Fuel Services' Solid Marine Bunker Q2 2013 Results

World Fuel Services Corporation (NYSE:INT), a global fuel logistics company, principally engaged in the marketing, sale and distribution of aviation, marine and land fuel products and related services, continues to  generate positive operating cash flow. The company report second quarter net income of $51.0 million or $0.71 diluted earnings per share compared to $48.6 million or $0.68 diluted earnings per share in the second quarter of 2012. “Our second quarter results once again demonstrate the resilience and diversity of our business model. We are pleased with our overall performance especially in our marine segment,” said Michael J. Kasbar, President and Chief Executive Officer of World Fuel Services Corporation.