World Fuel Services' fuel sales declined in 2020

Fuel sales and earnings declined in 2020 at US-based World Fuel Services. The company explains its decline with an economic slowdown on the heels of the pandemic as well as lower fuel prices.

Photo: PR / WFS

US-based World Fuel Services' fuel sales took a dive in 2020, in which the bunker market was put under significant pressure due to both the coronavirus pandemic and large oil price drops.

In 2020, World Fuel Services delivered 17.5 million tonnes of marine fuel against 20.9 million tonnes in 2019. As a result, the revenue in World Fuel Services dropped to USD 5.5 billion from USD 8 billion the year prior.

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