Shipowners and bunker traders are no longer worried about securing marine fuel at major hubs, even as disruption linked to the conflict around the Strait of Hormuz continues, according to a Reuters report on industry comments made at the Asia Pacific Petroleum Conference (APPEC).
Supply Concerns Fade From Peak Levels
Speaking on an APPEC panel, Rishi Nyati, managing director of Emarat Maritime, said the acute shortages seen earlier this year have not returned. “We do not see any problems with sourcing bunkers today and putting them on board,” Nyati said, as quoted by Reuters. He noted that major shipping hubs are no longer experiencing the kind of fuel scarcity recorded in March and April, even though bunker prices remain elevated compared to the start of the year.
According to Ship & Bunker’s own pricing data, Singapore VLSFO prices have climbed from $433.50/mt on January 1 to $878.50/mt as of Friday, an increase of more than 100%. Prices swung sharply after the US and Israel struck Iran in late February, rising through March before pulling back from their highs.
Blending Stocks, Not Volume, Now the Bigger Challenge
Max Tay, Asia heavy product trading manager at Repsol, told the same panel that while disruption tied to the strait persists, alternative supply sources remain accessible. Tay said the more pressing issue now is sourcing enough of the correct blending components to produce marine fuel meeting specific buyer and market specifications, according to Reuters. He estimated that the Fujairah bunkering hub in the UAE is currently operating at around 40% of its pre-war activity levels.
Reuters noted that industry views on the severity of the disruption have shifted over the year. In April, IBIA’s outgoing and incoming chairmen cautioned that price reactions to the conflict could be overstated, with outgoing chairman Constantinos Capetanakis describing elevated pricing as “serious profiteering” rather than a reflection of genuine supply tightness. By June, however, Mercuria had warned that regional stock-outs and hub outages remained possible within months, Reuters reported.
Despite the volatility, Singapore’s bunker sales for the first seven months of 2026 are up more than 3% year-on-year, reaching 32.58 million mt, based on figures cited in the Reuters report. Nyati added that oil continues to move through the strait, with 10 to 15 cargo vessel transits daily in both directions through the Omani corridor on the southern side. “Hormuz is not closed,” he said. “There’s oil flowing.”
Does This Matter To You?
For those monitoring bunker availability and pricing at hubs such as Singapore and Fujairah, these panel comments offer a read on how the market has adjusted since the acute shortages of March and April. Reuters reports that supply access has stabilized even as prices remain well above January levels, which is relevant for anyone tracking fuel procurement costs or planning transits through the Strait of Hormuz region. The persistence of blending-stock constraints at hubs like Fujairah, as noted by Repsol’s Max Tay, may also be a factor worth watching for parties sourcing fuel meeting specific grade requirements in that area.
Gulf Bunkering does not provide operational or security guidance. This article is for informational purposes only. Operators should consult flag state authorities, P&I clubs, and relevant advisories for decisions relating to transit planning.
Sources: Ship & Bunker (via Reuters)
