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World Fuel Services
World Fuel Services Corporation (WFS, World Fuel) is an energy, commodities, and services company based in Doral, Florida. The company ranked No. 91 in the 2018 Fortune 500 list of the largest United States corporations. WFS focuses on the marketing, trading, and financing of aviation, marine, building, and ground transportation energy commodities and related services. As of 2013, WFS also operates in natural gas and power. The global leader in marine refueling, in 2018 WFS sold a record total of 21 billion gallons of fuel for $39.8 billion in revenue. History World Fuel operates an asset light business model, which competitors have attempted to mimic. In 1984, Paul Stebbins and Michael Kasbar founded Trans-Tec Services, Inc., a marine fuel brokerage company. It was headquartered in New York City. Over the next 10 years they grew the company and built a global network of offices. In 1995, Stebbins and Kasbar sold Trans-Tec to International Recovery Corporation, and the company ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Company
A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (listed company), which facilitates the trade of shares, or not (unlisted public company). In some jurisdictions, public companies over a certain size must be listed on an exchange. In most cases, public companies are ''private'' enterprises in the ''private'' sector, and "public" emphasizes their reporting and trading on the public markets. Public companies are formed within the legal systems of particular states, and therefore have associations and formal designations which are distinct and separate in the polity in which they reside. In the United States, for example, a public company is usually a type of corporation (though a corporation need not be a public company), in the United Kingdom it is usually a public limited company (plc), i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vehicle For Hire
A vehicle for hire is a vehicle providing private transport or shared transport for a fee, in which passengers are generally free to choose their points or approximate points of origin and destination, unlike public transport, and which they do not drive themselves, as in car rental and carsharing. They may be offered via a ridesharing company. Vehicles Vehicles for hire include taxicabs pulled rickshaws, cycle rickshaws, auto rickshaws, motorcycle taxis, Zémidjans, okadas, boda bodas, sedan services, limousines, party buses, carriages (including hackney carriages, fiacres, and caleches), pet taxis, water taxis, and air charters. Share taxis, paratransit, dollar vans, marshrutkas, dolmuş, nanny vans, demand responsive transport, public light buses, and airport buses operate along fixed routes, but offer some flexibility in the point of origin and/or destination. Notable companies Some of the largest vehicle for hire companies include Uber, Ola Cabs, Bolt, DiDi Didi ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Avinode Group
Avinode Group is a Swedish B2B technology company focused on business aviation. It is known for operating Avinode Marketplace, an online marketplace for private air charter. History Avinode was founded in 2002 by three graduates of Chalmers University of Technology Chalmers University of Technology ( sv, Chalmers tekniska högskola, often shortened to Chalmers) is a Swedish university located in Gothenburg that conducts research and education in technology and natural sciences at a high international leve ..., Niklas Berg, Per Marthinsson and Niclas Wennerholm. At this point in time, operators and brokers relied primarily on phone calls and fax to source and schedule aircraft. Berg, Marthinsson, and Wennerholm created an online marketplace, called the Avinode Marketplace, which quickly gained traction. In 2010, Avinode acquired its US marketplace competitor, CharterX. As of 2018, an average of 7,000 aviation professionals use the system daily, approximately 3,200 aircraft ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Flight Planning
Flight planning is the process of producing a flight plan to describe a proposed aircraft flight. It involves two safety-critical aspects: fuel calculation, to ensure that the aircraft can safely reach the destination, and compliance with air traffic control requirements, to minimise the risk of midair collision. In addition, flight planners normally wish to minimise flight cost through the appropriate choice of route, height, and speed, and by loading the minimum necessary fuel on board. Air Traffic Services (ATS) use the completed flight plan for separation of aircraft in air traffic management services, including tracking and finding lost aircraft, during search and rescue (SAR) missions. Flight planning requires accurate weather forecasts so that fuel consumption calculations can account for the fuel consumption effects of head or tail winds and air temperature. Safety regulations require aircraft to carry fuel beyond the minimum needed to fly from origin to destination, al ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Aircraft Ground Handling
In aviation, aircraft ground handling defines the servicing of an aircraft while it is on the ground and (usually) parked at a Gate (airport), terminal gate of an airport. Overview Many airlines subcontract ground handling to airports, handling agents or even to another airline. According to the International Air Transport Association (IATA), conservative estimates indicate airlines outsource more than 50 per cent of the ground handling that takes place at the world's airports. Ground handling addresses the many service requirements of an airliner between the time it arrives at a terminal gate and the time it departs on its next flight. Speed, efficiency, and accuracy are important in ground handling services in order to minimize the turnaround time (the time during which the aircraft must remain parked at the gate). Faster turnarounds for lower ground times are correlated to better profits. Airlines with less-frequent service or fewer resources at a particular l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Derivative (finance)
In finance, a derivative is a contract that ''derives'' its value from the performance of an underlying entity. This underlying entity can be an asset, index, or interest rate, and is often simply called the "underlying". Derivatives can be used for a number of purposes, including insuring against price movements ( hedging), increasing exposure to price movements for speculation, or getting access to otherwise hard-to-trade assets or markets. Some of the more common derivatives include forwards, futures, options, swaps, and variations of these such as synthetic collateralized debt obligations and credit default swaps. Most derivatives are traded over-the-counter (off-exchange) or on an exchange such as the Chicago Mercantile Exchange, while most insurance contracts have developed into a separate industry. In the United States, after the financial crisis of 2007–2009, there has been increased pressure to move derivatives to trade on exchanges. Derivatives are one of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fixed-base Operator
A fixed-base operator (FBO) is an organization granted the right by an airport to operate at the airport and provide aeronautical services such as fueling, hangaring, tie-down and parking, aircraft rental, aircraft maintenance, flight instruction, and similar services. In common practice, an FBO is the primary provider of support services to general aviation operators at a public-use airport and is on land leased from the airport, or, in rare cases, adjacent property as a "through the fence operation". In many smaller airports serving general aviation in remote or modest communities, the town itself may provide fuel services and operate a basic FBO facility. Most FBOs doing business at airports of high to moderate traffic volume are non-governmental organizations, either privately or publicly held companies. Though the term ''fixed-base operator'' originated in the United States, the term has become more common in the international aviation industry as business and corporate aviati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bunkering
Bunkering is the supplying of fuel for use by ships (such fuel is referred to as bunker), including the logistics of loading and distributing the fuel among available shipboard tanks. A person dealing in trade of bunker (fuel) is called a bunker trader. The term bunkering originated in the days of steamships, when coal was stored in bunkers. Nowadays, the term bunker is generally applied to the petroleum products stored in tanks, and bunkering to the practice and business of refueling ships. Bunkering operations take place at seaports and include the storage and provision of the bunker (ship fuels) to vessels. Singapore is currently the largest bunkering port in the world. Bunkering in maritime law In many maritime contracts, such as charterparties, contracts for carriage of goods by sea, and marine insurance policies, the ship-owner or ship operator is required to ensure that the ship is seaworthy. Seaworthiness requires not only that the ship be sound and properly crew ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fuel Card
A fuel card or fleet card is used as a payment card most commonly for gasoline, diesel, and other fuels at gas stations. Fleet cards can also be used to pay for vehicle maintenance and expenses at the discretion of the fleet owner or manager. Most fuel cards are charge cards. Fleet cards are unique due to the convenient and comprehensive reporting that accompanies their use. Fleet cards enable fleet owners/ managers to receive real time reports and set purchase controls with their cards helping them to stay informed of all business related expenses. Fleet cards can be provided not only by oil brands like Shell, Chevron, ExxonMobil, but also by companies that only specialize in providing fuel cards such as Edenred, WEX Inc., Comdata, FleetCards USA, Petrol Plus Region, Fuelman and others. Additionally, some rideshare companies have fleet cards for their drivers, which allow the drivers to have gas money deducted from their earnings. Origins United Kingdom In its infancy, fue ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Transloading
Transloading, also known as cross-docking, is the process of transferring a shipment from one mode of transportation to another. It is most commonly employed when one mode cannot be used for the entire trip, such as when goods must be shipped internationally from one inland point to another. Such a trip might require transport by truck to an airport, then by airplane overseas, and then by another truck to its destination; or it might involve bulk material (such as coal) loaded to rail at the mine and then transferred to a ship at a port. Transloading is also required at railroad break-of-gauge points, since the equipment can not pass from one track to another unless bogies are exchanged. Since transloading requires handling of the goods, it causes a higher risk of damage. Therefore, transloading facilities are designed with the intent of minimizing handling. Due to differing capacities of the different modes, the facilities typically require some storage facility, such as wareho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bakken Formation
The Bakken Formation () is a rock unit from the Late Devonian to Early Mississippian age occupying about of the subsurface of the Williston Basin, underlying parts of Montana, North Dakota, Saskatchewan and Manitoba. The formation was initially described by geologist J. W. Nordquist in 1953. The formation is entirely in the subsurface, and has no surface outcrop. It is named after Henry O. Bakken (1901–1982), a farmer in Tioga, North Dakota, who owned the land where the formation was initially discovered while drilling for oil. Besides the Bakken formation being a widespread prolific source rock for oil when thermally mature, significant producible oil reserves exist within the rock unit itself. Oil was first discovered within the Bakken in 1951, but past efforts to produce it have faced technical difficulties. In April 2008, a USGS report estimated the amount of recoverable oil using technology readily available at the end of 2007 within the Bakken Formation at 3.0 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mobile App
A mobile application or app is a computer program or software application designed to run on a mobile device such as a phone, tablet, or watch. Mobile applications often stand in contrast to desktop applications which are designed to run on desktop computers, and web applications which run in mobile web browsers rather than directly on the mobile device. Apps were originally intended for productivity assistance such as email, calendar, and contact databases, but the public demand for apps caused rapid expansion into other areas such as mobile games, factory automation, GPS and location-based services, order-tracking, and ticket purchases, so that there are now millions of apps available. Many apps require Internet access. Apps are generally downloaded from app stores, which are a type of digital distribution platforms. The term "app", short for " application", has since become very popular; in 2010, it was listed as "Word of the Year" by the American Dialect Society. Apps a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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