Tue 16 Dec 2008, 09:40 GMT

Kasbar to sell company stock in 2009


World Fuel Services President enters into stock trading plan.



World Fuel Services Corporation has announced that its President and Chief Operating Officer, Michael J. Kasbar, has entered into a pre-arranged, non-discretionary stock trading plan.

Sales under this plan will cover approximately 15 percent of Mr. Kasbar's holdings and are being made for diversification and tax planning purposes.

Transactions are expected to occur at predetermined times from January 15th 2009 through February 27th 2009 and will be publicly disclosed through Form 4 filings with the Securities and Exchange Commission.

The plan was adopted in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, and World Fuel Services' policies regarding stock transactions.

Rule 10b5-1 permits individuals who are not in possession of material, non-public information at the time the plan is adopted to establish pre-arranged plans to buy or sell company stock. These plans allow individuals to achieve prudent and gradual asset diversification over time.

Last week World Fuel Services announced that its Chairman and Chief Executive Officer, Paul H. Stebbins, had also entered into a pre-arranged stock trading plan. Sales under the plan will cover approximately 20 percent of Mr. Stebbins' holdings.


AuctionConnect and Asyad Shipping logos. Asyad Shipping adopts AuctionConnect digital bunker platform under three-year deal  

Middle East shipping company to implement auction-based procurement system across fleet operations.

Fuel for thought: LNG for Cruise report cover. LNG remains the most deployable decarbonisation option for cruise shipping, Lloyd’s Register report finds  

Classification society’s latest research examines the fuel’s role in the sector’s energy transition and pathway to net zero.

Dr. Ibrahim Muritala, ABS. ABS engineer to discuss performance-based hydrogen framework at SPE symposium  

Dr Ibrahim Muritala to join panel examining shift from colour-based hydrogen labelling to carbon intensity metrics.

Cosco Shipping Peony vessel. Cosco Shipping completes methanol dual-fuel retrofits on four ultra-large container vessels  

Chinese shipping line retrofits 20,000-teu and 13,800-teu vessels with methanol propulsion systems.

Launching ceremony of Maran Myrto vessel. Chinese yard launches LNG dual-fuel Suezmax  

Crude carrier with LNG propulsion launched in Jiangsu province.

Keel-laying ceremony of a vessel with builder's hull no. 0315846. Keel laid for LNG dual-fuel crude oil tanker  

Chinese yard begins construction on 155,500-dwt vessel with Lloyd’s Register classification.

BW Lesmes alongside Levante LNG vessel. BW LNG vessel completes first gassing-up operation with bunker barge  

BW Lesmes transitions from drydock to cargo readiness using an LNG bunker barge.

Mark Bell, SGMF. LNG marine fuel shows up to 29% emissions reduction in new SGMF study  

Latest life cycle assessment shows improved methane slip control, with well-to-wake reductions of up to 25%.

Michelle McDade, Global Fuel Supply. Blue Energy Partners appoints Michelle McDade as head of operations  

McDade brings more than eight years of bunkering experience to the Oslo-based role.

Person signing a document. Venture Energy signs green methanol supply deal with Shenji Energy  

Hong Kong-based firm to purchase ISCC EU-certified biomass-derived methanol for shipping clients.