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World Fuel Services Corporation (NYSE: INT) has selected Triple Point’s flagship commodity management platform to support trading, scheduling, counterparty credit risk, and regulatory risk for its global fuel marketing operations.
Headquartered in Miami, Florida, World Fuel Services is a global fuel logistics company, principally engaged in the marketing, sale, and distribution of marine, aviation, and land fuel products and related services. World Fuel Services sells fuel and delivers services to its clients in 200 countries and at over 6,000 locations, including airports, seaports, tanker truck loading terminals, and other customer storage locations.
“Price volatility is driving the rapid adoption of sophisticated, enterprise risk platforms by energy and commodity companies,” said Peter F. Armstrong, president and CEO, Triple Point. “Triple Point has become the solution of choice amongst fuel marketers, and we look forward to supporting World Fuel Services now and in the future.”
World Fuel Services licensed Commodity XL™ for Oil, Gas, Emissions, Credit Risk, Hedge Accounting, and Fair Value Disclosure. The company also purchased Triple Point’s interactive business intelligence module, Commodity XL Management Dashboard™ and Commodity XL PhysOps ‘Visual Cockpit’™ to help schedulers plan, conduct, and optimize shipments in real time.