Fujairah’s bunkering market has reached a historic turning point, with very low fuel oil availability pushing prices to levels never seen before at the port — surpassing even the peaks recorded during Russia’s invasion of Ukraine in 2022.
According to Ship & Bunker, VLSFO at Fujairah surged by $137.50 per metric ton on Wednesday alone, following a $60/mt rise the day before, to reach $1,201/mt. That figure eclipses the previous 2026 peak of $1,104/mt recorded on March 19, itself a high point tied to the outbreak of the current Middle East conflict. Prices eased slightly on Thursday, pulling back $18/mt to $1,183/mt, but the market remains at extraordinary levels.
To put the scale of the move in perspective, Fujairah VLSFO was trading at $519.50/mt as recently as February 27 — meaning prices have risen more than 56% since the conflict in Iran began.
Supply, Not Headlines, Driving the Surge
A local market source told Ship & Bunker that this week’s price movement has not been triggered by any single news event, but rather by a steady erosion of available supply.
“The prices are driven by extremely low avails of VLSFO; there’s no big new flows in sight yet,” the source said, adding that elevated insurance premiums would continue to keep the market under pressure.
A Port Under Siege
Fujairah, under normal conditions the world’s third-largest bunkering hub after Singapore and Rotterdam, has been hit harder than any other major port by the ongoing conflict. Ship & Bunker reports that the hub is dealing with a convergence of challenges: reduced fuel supply from Gulf refineries, a dramatic fall in vessel transits through the Strait of Hormuz, and direct security risks from Iranian attacks on the port and vessels operating nearby.
Those conditions were reflected in April’s bunkering volumes, which Ship & Bunker reports fell to just 126,253 metric tons — a record low, down 20.3% from March and a dramatic 81.1% below the same month a year earlier.
Does This Matter to You?
The situation at Fujairah carries significant weight across the maritime supply chain. As one of the world’s most strategically located bunkering hubs — serving vessels transiting between Asia, the Middle East, and Europe — a prolonged supply squeeze and record-high pricing at Fujairah creates pressure on voyage economics, fuel procurement strategies, and scheduling decisions across a wide range of routes.
Insurance premiums adding a structural floor to prices means this is not simply a short-term spike. For anyone managing fuel costs or routing decisions tied to the region, the combination of record pricing, record-low volumes, and ongoing security concerns makes Fujairah a market to watch very closely.
According to Ship & Bunker, there are no major new supply flows in sight, suggesting the current conditions could persist for as long as the conflict continues.
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
