World Fuel Services notes big slide in earnings

Earnings at the world's largest bunkering group, World Fuel Services, took a major dive in the second quarter, due to factors including the low oil price.

Photo: Andreas Vallbracgt-Prachtvoll/Jyllands-Posten

Listed World Fuel Services, the world's largest bunkering group and a company to which now-collapsed OW Bunker was often compared, has published a second quarter interim showing a significant decline in earnings.

"While we posted record volumes in all segments, seasonality in Watson Fuels (oil for industry, construction, etc) and low prices coupled with reduced volatility in marine, significantly impacted profitability," says CEO Michael J. Kasbar in relation to the interim report.

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