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World Fuel Services SWOT & PESTLE Analysis

ID : 52948253| May 2021| 21 pages

COMPANY PROFILE -World Fuel Services

Business Sector :Energy

Operating Geography :United States, North America, Global

About World Fuel Services :

World Fuel Services offers commercial and industrial customers in the aviation, marine, and land transportation sectors energy procurement consulting services, supply fulfilment, and transaction and payment processing solutions. The company is headquartered in Doral, Florida. In 1984, Paul Stebbins and Michael Kasbar founded Trans-Tec Services, Inc., a marine fuel brokerage firm and later in 1995, Stebbins and Kasbar sold Trans-Tec to International Recovery Corporation, which renamed the firm World Fuel Services. World Fuel has 185 branches worldwide, with the majority of them based in the United States, the United Kingdom, Singapore, the Netherlands, Sweden, and Costa Rica. It operates out of 150 offices in 190 countries. Petroleum wholesalers and dealers, wind turbine operators, manufacturing, commercial, residential, and government customers are among World Fuel's land-based customers. The marine segment provides bunkering for global maritime fleets, as well as lubricants and related products and services across 1,200 major seaports. Commercial airlines, passenger carriers, airports, fixed-based operators, corporate aircraft fleets, corporate helicopter fleets, government and military aircraft, fractional operators, and private general aviation aircraft are all served by the aviation segment. In April 2021, the company's board of directors approved a 20 per cent rise in its quarterly cash dividend to $0.12 per share which will be paid to shareholders of record on March 26, 2021.
World Fuel Services' unique selling point or USP lies in being the global energy industry's leader, with a Fortune 500 ranking of 91. World Fuel Services' mission statement reads, "Create value for our business partners by delivering innovative solutions and logistics through a global team of local professionals".

World Fuel Services Revenue :


Euro 17107.56 million - FY ending 31st December 2020 (y-o-y growth -7.37%)
Euro 30940.33 million - FY ending 31st December 2019

Competitive Analysis of World Fuel Services

SWOT
PESTLE

The SWOT analysis for World Fuel Services is presented below in a matrix followed by the detailed analysis report

StrengthsWeaknesses

1. The vast geographical presence enables it to access potential markets globally
2. A wide range of service offerings attracts more customers with varied needs
3. Strong online presence and highly developed technology make it easier to reach customers
4. A very strong financial position benefits the company greatly
5. High Product innovation and service quality gives an edge over the competitors
1. A very high risk is associated with transportation which can lead to huge losses
2. A shortage of cash or current assets may negatively affect the liquidity and hampers overall business performance
3. Due to seasonal variability there maybe a fluctuation in operations
OpportunitiesThreats
1. Increase in population increases demand for fuel services at lower cost, opening new growth opportunities
2. The reformed tax policies enable a better market operation throughout the world
3. Trends in e-commerce and social media marketing will enhance significant market expansion
1. Changes in policies and regulatory frameworks can be big threat to World Fuel Services.
2. Due to the adverse effect on environment, the sustainability acts can pose a threat and tarnish the brand image
3. Stronger competitors in the market with price advantages can hamper the customer base
SWOT & PESTLE (combined)
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Detailed SWOT Analysis of World Fuel Services

Strength

1. The vast geographical presence enables it to access potential markets globally: World Fuel Services was established in 1984 in USA, today has a global reach. It has 71 office locations over 33 countries, doing business all over the world. It operates in over 200 countries like China, India, Denmark, Argentina, Finland, Hungary, Germany, Indonesia, Japan , Brazil, Costa Rica, Norway, Singapore, the United Kingdom and many others. It dominates the three sectors of aviation, marine and land for transportation. This is of great advantage as it can have a huge market and can tap into resources from all over the world. Having a vast geographical presence opens up channels for expansion. With more customers all over the world, World fuel services has built a very strong distribution network. It has thus emerged as the leading global energy company in the world.

2. A wide range of service offerings attracts more customers with varied needs: World Fuel Services provides all types of energy solutions, logistics, risk marketing and technological solutions to aviation, marine, and land customers and suppliers around the world. It helps in oil and energy procurement of various types of oils, take part in logistics and distribution, fleet equipment, inventory and storage. It provides operational support, financial solutions and consulting services also. The Aviation related services that are offered include, 24/7 global dispatch services fuel management, ground handling, price risk management and international trip planning services, weather reports and including flight plans etc. In addition to various other services, it offers transaction management services, which include card payment solutions, government payment systems for procurement of global fuel, merchant processing services and commercial payment programs. This wide variety of goods and services brings in a larger number of customers with various needs. This improves brand image and customer loyalty also.

The remaining section under "Strength"is available only in the 'Complete Report' on purchase.

Weakness

This section is available only in the 'Complete Report' on purchase.

Opportunity

This section is available only in the 'Complete Report' on purchase.

Threats

This section is available only in the 'Complete Report' on purchase.

Major Competitors :

  • Valvoline
  • HollyFrontier
  • Phillips 66
  • Sun Course Resources
  • Marathon Oil
  • Valero
  • Devon Energy
  • Occidental
  • Apache
  • Noble Energy
  • Andeavor
  • PBF Energy
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TABLE OF CONTENTS
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References used in World Fuel Services SWOT & PESTLE Analysis Report

1. Energy, logistics, and transaction management solutions - https://www.wfscorp.com/en/Solutions#distribution-storage
2. World Fuel Services Selects Aryaka for Digital Transformation, Network Simplification and Managed Services - https://www.businesswire.com/news/home/20191210005108/en/World-Fuel-Services-Selects-Aryaka-for-Digital-Transformation-Network-Simplification-and-Managed-Service
3. Annual Reports Archive - https://ir.wfscorp.com/annual-reports-archive
4. World Fuel Services Corporation Reports Third Quarter 2020 Results - http://www.bunkerportsnews.com//News.aspx?ElementID=dc112e37-3923-4890-b246-73459c186bd3
5. Bunker Carbon offsetting to Yatch owners - https://shipandbunker.com/news/world/350210-world-fuel-services-offers-bunker-carbon-offsetting-to-yacht-owners?utm_campaign=Feed%3A%2Bshipandbunker%2B%28Ship%2B%26%2BBunker%29&utm_medium=feed&utm_source=feedburner
The detailed complete set of references are available on request in the 'Complete report' on purchase.

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SWOT & PESTLE.com (2021). World Fuel Services SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/world-fuel-services/ [Accessed 13 Jun, 2021].

In-text: (SWOT & PESTLE.com, 2021)

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World Fuel Services SWOT and PESTLE analysis has been conducted by Gargi Nayak and reviewed by senior analysts from Barakaat Consulting.

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