World Fuel Services

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World Fuel Services Corporation
Public
Traded as NYSEINT
S&P 400 Component
Industry Energy, Transportation, Logistics
Founded 1984
Headquarters Miami, Florida, U.S.
Key people
Products
Services
  • Fuel Cards
  • Payment Processing
  • Ground Handling
  • Rail Logistics
  • Tanker Logistics
  • Rack Wholesale
  • Convenience Store Management
  • Convenience Store Branding
Revenue Increase US$33.696 billion (2017)[1]
Decrease US$45.6 million (2017)[1]
Decrease US$-170.2 million (2017)[1]
Total assets Increase US$5.588 billion (2017)[1]
Total equity Decrease US$1.722 billion (2017)[1]
Number of employees
~5,000 (February 2018)[1]
Subsidiaries Multiservice Corp, Carter Energy, Alta Fuels and Transportation, Avinode, U.S. Energy Services, Texor Petroleum, Western Petroleum, MH Aviation, Colt Aviation, AvCard, Tramp Oil, Nordic Camp, FBO One, Total FBO, myFBO, Norse Bunker, PetroAir, Ascent Aviation, MH Aviation, PAPCO, APP, Kinect Energy
Website www.wfscorp.com

World Fuel Services Corporation is a Fortune 500 company that is based in Miami, Florida. It provides marketing and financing of aviation, marine and ground transportation fuel products and related services to commercial and corporate aircraft, petroleum distributors and ships at more than 3,500 locations around the world.

History[edit]

In 1985, Paul Stebbins and Michael Kasbar founded Trans-Tec Services, Inc., a marine fuel brokerage company. It was headquartered in New York City. Over the next 10 years they grew the company and built a global network of offices. In 1995, Stebbins and Kasbar sold Trans-Tec to International Recovery Corporation.

International Recovery Corporation was founded in Miami in 1984 and went public on the New York Stock Exchange (NYSE:INT) in 1986. The company changed its name to World Fuel Services Corporation after acquiring Trans-Tec. Stebbins and Kasbar served as members of the board of directors and managed the marine business, prior to taking on the corporate positions they hold today.[2] Since 2008, the company has made a series of acquisitions in its principal field, and related fields such as the ground fuel market and energy management.[3][4]

In 2013, the company was named as a co-defendant in various lawsuits as owner of Bakken formation light crude oil aboard a Montreal, Maine and Atlantic Railway train which derailed in Lac-Mégantic, Quebec on July 6, 2013, killing an estimated forty-seven people and destroying much of the community's downtown.[5]

References[edit]

  1. ^ a b c d e f "World Fuel Services Corporation 2017 Annual Report (Form 10-K)". sec.gov. U.S. Securities and Exchange Commission. February 2018. 
  2. ^ "Company History". Forbes. January 26, 2017. 
  3. ^ "U.S. Energy Services purchased by World Fuel Services". Ethanol Producer Magazine. 16 August 2013. Retrieved 9 December 2015. 
  4. ^ "World Fuel Services new owner of Bergen Energi". 2 November 2015. Retrieved 9 December 2015. 
  5. ^ Sparks, Riley (2013-08-02). "Lac-Mégantic lawsuit targets 11 companies". Montreal Gazette. Retrieved 2013-08-02. 

External links[edit]