World Fuel Services
| World Fuel Services Corporation
|
|
|---|---|
 |
|
| legal form | Corporation |
| ISIN | US9814751064 |
| founding | 1984 |
| Seat |
Miami , Florida , United States
|
| management | Michael J. Kasbar (Chairman and CEO ) |
| Number of employees | 5000 |
| sales | 33.7 billion US dollars |
| Branch | Logistics, fuels |
| Website | www.wfscorp.com |
| As of December 31, 2017 | |
World Fuel Services is a US provider of logistics services related to the fuel supply of vehicle fleets and industrial customers. World Fuel Services deals with the distribution of liquid fuels and lubricants to customer vehicle fleets or to stationary plants. Customers include logistics companies with truck fleets, airlines, shipping companies and operators of industrial plants. The company has offices at 3000 airports and 1200 seaports worldwide. World Fuel Services is one of the largest energy trading companies and was ranked 91st in 2018 on the Fortune 500 list, which includes the 500 top-selling companies in the United States.
history
In 1984 Paul Stebbins and Michael Kasbar founded Trans-Tec Services, a marine heavy oil trading company , in New York City . After 11 years, in 1995, Stebbins and Kasbar sold the company and the already listed International Recovery Corporation took over Trans-Tec. After this acquisition, the merged company was renamed World Fuel Services. The next two decades were marked by hostile takeovers that greatly increased World Fuel Services' market share in all of its businesses.
After the Lac-Mégantic railway accident in 2013, World Fuel Services, along with a number of other companies, became involved in legal disputes. A subsidiary World Fuels had sold the crude oil, which later caught fire. World Fuel Services agreed to pay $ 110 million to resolve the dispute.
Individual evidence
- ↑ World Fuel Services: Leadership , accessed February 19, 2019
- ↑ World Fuel Services: Annual Report 2017 , accessed February 19, 2019
- ↑ World Fuel Services: Aviation , accessed February 19, 2019
- ↑ World Fuel Services: Marine , accessed February 19, 2019
- ↑ Fortune: World Fuel Services , accessed February 19, 2019
- ↑ World Fuel Services: Our History , accessed February 19, 2019
- ↑ World Fuel Services: World Fuel Services Corporation Announces Lac-Mégantic Settlement , accessed February 19, 2019
- ↑ Reuters: World Fuel Services to pay $ 110 mln in Lac-Megantic settlement , accessed February 19, 2019