Fuel availability has not been eliminated, but it has become increasingly uneven, more expensive, and operationally constrained, particularly for VLSFO, blending components, and marine gasoil.
This is according to marine fuel solutions provider Seascale Energy, a joint venture equally owned by Cargill’s Ocean Transportation business and tanker shipping company, Hafnia.
The conflict in the Middle East is materially reshaping global shipping patterns and fuel markets, the company said.
The partial closure of the Strait of Hormuz has driven immediate and significant disruption across bunker supply chains in the Middle East and Indian Subcontinent, triggering global price volatility and logistical knock-on effects.
In this environment, bunker markets have shifted rapidly towards heightened uncertainty, increased price volatility, execution risk, and a greater reliance on timely information and active procurement management from shipowners and charterers.
Seascale Energy said bunker procurement – in the current market – is core to the commercial function for many ship operators, with access, timing, pricing, and execution having a direct impact on voyage economics.
Looking ahead, the company said the gap between well and poorly managed procurement is widening. As a result, bunker procurement has become an even more critical commercial lever in shipping, directly influencing margins and operational performance during a more volatile time.
During the first quarter, the company said it worked proactively with customers to address these challenges.
“Throughout the quarter, Seascale Energy has utilized aggregated demand and established supplier relationships to maintain consistent access to fuel across key ports, despite tightening conditions,” the statement of Seascale Energy reads.
It added that it closed the quarter with its board meeting in Singapore followed by a customer event, providing an opportunity for dialogue on market developments and operational challenges.
