News

PLAZA MARINE, INC. and affiliated companies continue profitable 2020 with strong third quarter

October 5 2020

Third quarter 2020 company highlights

• Year over year margin increase
• Sequential period increased gross profit
• Maintains its quarterly tonnage sold
• Embarks upon expanded services to customers in its core business
• Risk mitigation process proves effective

Plaza Marine, Inc. and its affiliated companies announced today the successful completion of the third quarter of 2020. Plaza Marine maintained its quarterly tonnage sold in 2020 while increasing its gross profit for the period. Notably, the Company saw an increase margin when compared to the same prior year period. Further, the Company’s risk mitigation process effectively protected it against market price and credit fluctuations. Looking forward, the Company expects to expand its service offerings to customers in its core business in the fourth quarter of 2020.

Plaza Marine, Inc. President, William G. Gotimer, Jr. said “While continuing to abide by coronavirus restrictions and precautions our team of professionals has continued to provide exceptional service to customers and timely payments to our suppliers and vendors. Our robust risk mitigation program has proven successful in insulating the company from recent market fluctuations and credit uncertainty in the industry. Based upon our continuing strong 2020 performance we expect to increase our customer service offerings in our core business and extend key vendor relationships during the fourth quarter of 2020. We take great pride in the service provided to customers by our vendors, employees and investors.”

For additional information about Plaza Marine, Inc. and its services please call William G. Gotimer, Jr. at (914) 299‑3949.

The Plaza Marine Group offers comprehensive marine fuel and management services through its operations along the United States’ Eastern Seaboard, the Gulf Coast, the Great Lakes and Panama.