Sign up
Log in Sign up
Thu 31 Jul 2014, 11:15 GMT

World Fuel Services completes Colt International acquisition


Houston-based firm is a provider of contract fuel and international trip planning services for the aviation industry.

World Fuel Services Corporation has announced that it has completed the previously announced acquisition of Colt International, LLC.

"We are pleased to welcome the Colt team to the World Fuel Services organization," said Michael J. Kasbar, chairman and chief executive officer of World Fuel Services Corporation. "The Colt transaction, combined with the existing World Fuel business, will provide customers with the largest contract fueling network in the general aviation industry and deliver a premier global platform for international trip planning services."

Colt, headquartered in Houston, Texas, with 150 employees and 2013 revenue of approximately $400 million, is a leading provider of contract fuel and trip planning services at more than 3,000 locations worldwide.

The transaction is expected to be $0.06 to $0.09 accretive to earnings on a GAAP basis in the first twelve months. Non-GAAP accretion, which excludes amortization of acquired intangible assets of approximately $0.02 per share, is expected to be $0.08 to $0.11 in the first twelve months.

David Ortiz, trading manager at Sonan Energy Panama. Sonan Energy Panama appoints David Ortiz as trading manager  

Former US Marine brings nearly a decade of bunker trading experience to Panama role.
The M/T Jutlandia Swan, operated by Uni-Tankers. Project CLEANSHIP begins collecting operational data from wingsail-equipped tanker  

M/T Jutlandia Swan serves as floating laboratory to measure wind-assisted propulsion performance.
Bernhard Schulte Shipmanagement's (BSM) second methanol dual-fuel bulk carrier. BSM adds second methanol dual-fuel bulk carrier to managed fleet  

Ship manager now operates two methanol-capable vessels as alternative fuel adoption continues in the bulk sector.
Petrobras logo. Petrobras suspends MGO export sales following Brazilian government’s 50% export tax  

State oil company halts distillate fuel exports while assessing impact of new levy.
The LNG bunkering vessel Alisios LNG. Scale Green Energy launches 12,500-cbm LNG bunkering vessel in Spain  

Alisios LNG will supply marine fuel from the Huelva plant, chartered by Axpo Iberia.
The pure car and truck carrier Tourmaline Ace. Piraeus port signs LNG-fuelled car carrier deal with MOL  

Mitsui O.S.K. Lines' LNG-powered vessel made inaugural call at Greek port on 10 March.
Hydrogen ship render. DNV study recommends design-based safety approach for hydrogen-fuelled vessels  

Study for EMSA calls for secondary enclosures across all hydrogen components, including open deck.
The pure car and truck carrier Grande Seoul. Grimaldi takes delivery of ammonia-ready car carrier Grande Seoul  

Ninth vessel in series joins fleet for Asia-Europe service with 50% lower emissions.
Photograph of Oğuz Yazici, Country Manager at Oilmar DMCC. Oilmar appoints Turkey country manager as part of regional expansion  

Dubai-based bunker and cargo trader promotes from within to lead Turkish operations.
Photograph of the GNV Aurora ferry's first LNG bunkering in Genoa, in March 2026, with delivery tanker Green Zeebrugge alongside. GNV Aurora completes first LNG bunkering in Genoa  

GNV's second LNG-powered ferry receives fuel in Italian port, with a shore power trial scheduled.




 Recommended