World Fuel Services has splashed out $83m to acquire Tramp Holdings, the parent company of one of the largest independent marine bunker suppliers in the world.

Tramp Holdings is the London-based holding company of the Tramp Oil Group, which in the last fiscal year reported net profits of $5.5m on revenues of $1bn.

“The Tramp companies will operate as a business unit within the World Fuel Services marine business group,” the US-listed marine and aviation bunker supplier said.