Ship refueling at Fujairah, a key bunkering hub in the United Arab Emirates near the Strait of Hormuz, has slowed after a fire due to a drone interception.
According to Reuters, while Fujairah’s terminals remain operational, oil storage firms Vopak and VTTI have temporarily suspended vessel loading operations. Some suppliers and shippers have paused deliveries, awaiting more clarity, while others continue refuelling amid a spike in marine fuel prices.
Low-sulphur fuel premiums jumped to over $30 per metric ton above Singapore quotes, up from $10–$15 last week, reflecting concerns about prolonged supply disruption, Reuters reports. Marine fuel sales at Fujairah were largely stalled after offers surged, though some bunkering continues.
As a result of slowing consumption in Fujairah, demand is expected to shift to other major bunkering hubs across Asia, Rotterdam, the Mediterranean, Colombo, and India if tankers avoid the Middle East or remain stranded in the Gulf.
Singapore, the world’s largest bunkering port, has already seen brisk spot demand as shipowners try to secure fuel before prices rise further.
Analysts warn that extended disruptions could curtail supply in Singapore and push fuel premiums higher if the conflict persists.