Reuters reports that the recent attacks around the Strait of Hormuz and the Gulf of Oman have increased insurance costs resulting to the decrease of purchases of marine fuels in the UAE Fujairah oil hub, as shippers are trying to mitigate their time in the Middle East.
Amid escalating tension in the Gulf of Oman, bunkers are firstly opting for Singapore, the world’s top refuelling hub, to purchase marine fuels, while their second choices are India and Sri Lanka.
Reuters’ sources added that...
https://safety4sea.com/attacks-in-gulf-of-oman-boost-singapores-fuel-sales-uae-loses-ground/