World Fuel Service lost 20 percent of revenues in third quarter

Word Fuel Services hit by low oil prices and fewer sold volumes in the third quarter, according to the interim report from the world's largest bunker company.

Photo: Modelfoto/Colourbox

US-based World Fuel Services, the world's largest bunker company, lost nearly 20 percent of its revenues in the third quarter compared to the same period last year. The decline is attributed to a combination of a lower oil price and fewer sold volumes, according to the group's interim report

The average oil price dropped by 12.1 percent for every ton of oil sold, to USD 244.8 million in the third quarter of 2016 compared with USD 278.5 million in the third quarter of 2015.

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