World Fuel Services revealed a drop in profit for the first quarter amid lower-than-expected bunkers volumes.
The Miami fuel supplier reported an overall profit of $31.3m for the period, a 39.6% dip from the same period of last year.
The decline was expected, and adjusted earnings per share of $0.50 was in-line with analyst estimates.
And it represented a rebound from a fourth quarter that Stifel shipping analyst Benjamin Nolan described as "disastrous".
