World Kinect Q2 Marine Fuel Volumes Fall on Middle East Conflict
Image Credit: Ship & Bunker / Data Credit: World FuelMarine income: $22. 2 million (vs. $25. 6 million loss YoY)Marine volumes: 3. 46 million mt (-10. 4% YoY)Bunker sales margin: $6. 41/mt (vs. -$6. 62/mt. . .
Image Credit: Ship & Bunker / Data Credit: World FuelMarine income: $22. 2 million (vs. $25. 6 million loss YoY)Marine volumes: 3. 46 million mt (-10. 4% YoY)Bunker sales margin: $6. 41/mt (vs. -$6. 62/mt YoY)Marine segment gross profit: $79. 7 million (vs. $27 million YoY)Q3 outlook: Marine gross profit expected to rise YoYWorld Kinect– one of the world's largest bunker suppliers, also known asWorld Fuel– said weaker demand associated with theMiddle Eastconflict weighed on marine fuel volumes inQ2. The firm saw income from marine operations of$22. 2 millioninQ2, it said in an earnings release on Thursday. The result compared with a loss of$25. 6 millioninQ2 2025, but was down from income of$33 millionin thefirst quarter of 2026. Gross profit from the marine segment was$79. 7 millioninQ2, up from$27 milliona year earlier. The firm sold3. 46 millionmt of marine fuels inQ2, down by10. 4% on the year and10. 5%from previous quarter. That left a Q2 profit margin on its bunker sales of$6. 41/mt, up from loss of$6. 62/mta year ago but down from$8. 53/mtprofit inQ1 2026. Last year, the company sold15. 76 million mtof bunker fuel, down4. 9%from16. 57 million mtin2024. Analyst CallThe company said the marine business delivered one of its strongest quarters on record, with higher bunker fuel prices and market volatility boosting margins despite lower sales volumes. "Aviation and marine each delivered record quarterly gross profit, supported by favourable market conditions, including continued volatility associated with the conflict in the Middle East,"Ira Birns, CEO of World Kinect Corporation, said. "During periods of disruption, customers place an even greater premium on certainty of supply, operational execution and trusted relationships. "Chief Financial OfficerMike Tejadasaid marine volumes fell to 3. 5 million mt, down about 10% from a year earlier, primarily because of weaker demand linked to the Middle East conflict. “Despite the lower volume, marine gross profit increased almost three times the prior year level to $80 million, the highest quarterly gross profit in the history of the segment,” Mike said. “Looking to the third quarter and considering our July activity to date, we expect marine gross profit to be up year-over-year, reflecting continued momentum in the business. ”Ship & Bunker News TeamTo contact the editor responsible for this story email us at[email protected]