The International Bunker Industry Association (IBIA) is considering taking an active role in countering exaggerated fears about fuel supply disruptions tied to the ongoing Middle East conflict, according to Ship & Bunker. Both the association’s outgoing and incoming chairmen indicated that dispelling market misinformation and discouraging panic-driven purchasing could become key priorities for the body in the weeks ahead.
Fujairah Operations at Near-Standstill
According to Ship & Bunker, bunkering operations at Fujairah — the world’s third-largest bunker port by volume — have ground to what the publication describes as a near-standstill amid the conflict. Broader concerns have also surfaced about whether ports across the globe can maintain adequate fuel availability if Asian refineries are cut off from Middle Eastern crude supplies in a prolonged conflict scenario.
To address the rapidly shifting situation, IBIA has already organised an online member meeting. Adrian Tolson of 2050 Marine Energy, who assumed the IBIA chairmanship on April 1, told Ship & Bunker that the association is prepared to create further opportunities for members to share their challenges as the crisis evolves.
“It’s such a fast-moving and evolving situation,” Tolson said. “If we start to see real strain in the supply structure, I think we’ll have to try and see what we can do, and maybe that’s just simply providing a forum for people to share what’s going on and the challenges they’re facing.”
Fuel Remains Available — But at a Steep Cost
Constantinos Capetanakis of Star Bulk, who handed over the IBIA chairmanship to Tolson on April 1, drew a firm line between price escalation and a genuine supply shortfall. While acknowledging that costs have climbed sharply, he stressed to Ship & Bunker that physical availability is not yet the core issue.
“There is no real problem yet, retail-wise,” Capetanakis said. “It’s much more expensive — we’re talking about serious profiteering here — but there is no supply tightness in the sense that one cannot get it if you have the money to buy it.”
Panic Buying and the Herd Mentality
Both IBIA leaders pointed to buyer behaviour as a significant driver of unnecessary market stress. Capetanakis criticised what he described as a herd mentality, widespread profiteering, and a lack of strategic planning among many bunker buyers.
“The situation shows the complete lack of strategy on the part of many bunker buyers,” he told Ship & Bunker. “Because you cannot implement any type of strategy with this crisis, it hits you in the face with huge premiums.”
Tolson agreed that near-term tightness may be partly self-inflicted through rushed purchasing, rather than a reflection of true supply constraints. “There may be a shortage in the short term, because everybody’s been buying bunkers quickly to cover ships,” he said. “But the reality is I think there’s enough fuel to go around at the moment.”
He added that IBIA intends to serve as a stabilising voice in the market: “As an association, one of the things we can do is to try and warn people of the consequences of panic buying and damp down the excitement.”
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
