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World's biggest bunker company earns more but sells less

US-based World Fuel Services increases its earnings in the marine segment to the highest level since 2015. The increase comes despite a significant drop in bunker sales.

Photo: Foto: World Fuel Services

In a year marked by increasing oil prices, the world's biggest bunker company increased its profit in the marine segment by more than 40 percent in the third quarter this year compared to the same period last year.

Even though World Fuel Services (WFS) has sold 6 million tons oil less than in the same period last year, the US bunker group still managed a profit of USD 43 million in the marine segment in this year's third quarter, and that is the best result in the segment since 2015, according to the company's most recent quarterly report.

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