The global bunker fuel market, centred in Singapore, is experiencing significant disruptions as tensions in the Red Sea prompt ships to reroute, causing increased demand for low-sulphur fuel. This surge in demand is leading to longer waiting times and higher prices, impacting the industry.
Increased Demand Spurs Supply ChallengesShippers and trading firms are encountering delays and rising costs for low-sulphur fuel in Singapore, the world’s primary bunker hub. Vessels diverge from the Red Sea,...