Its marine segment generated gross profit of $32.0 million, a decrease of 40% year-over-year, principally attributable, WFS said, “to lower volume and profitability due to a decline in demand as a consequence of the pandemic and lower average fuel prices”.

Commenting on the effect of Covid-19, WFS said in statement: “Beginning in the first quarter of 2020, the aviation, marine and land transportation industries, along with global economic conditions generally, have been significantly impacted by the coronavirus pandemic.