Singapore is receiving more ship calls as the Iran–US conflict disrupts shipping routes, but fewer vessels are refuelling heavily while in port, industry sources say.
Data from the Maritime & Port Authority of Singapore (MPA) show 10,873 ship arrivals in April, a 3% year‑on‑year increase and continuing an upward trend after March’s 11,591 calls (up 8.7% year‑on‑year). However, only 3,438 of April’s arrivals cited bunkering as their primary purpose, slightly below last year’s 3,504. Bunker sales also dipped: fuel sales fell 1.2% year‑on‑year to 4.35 million tonnes in April.
Experts attribute the divergence to extreme fuel-price volatility caused by the Middle East conflict. Shipowners are adopting more conservative fuel strategies—bunkering only enough to reach the next port, delaying non‑essential refuelling, and slow steaming (reducing sailing speed) to conserve fuel. These behaviours reduce per‑vessel fuel uptake even as overall traffic rises.
Supply‑side caution is also a factor. Suppliers may be scaling back large forward purchases because holding big fuel stocks amid sharp price swings is risky and costly. “The war has simultaneously driven vessels toward Singapore while making each of those vessels buy less,” said Siti Zaini, regional manager for Asia at the International Bunker Industry Association. She expects volatility and fluctuating bunker sales to persist for the next three to six months while the conflict remains unresolved.
Analysts note related shifts in trade patterns: Coface’s Bernard Aw reported a 1.2% fall in cargo volumes carried by vessels that called Singapore in April, and attributed part of the weaker bunker demand to slower container speeds. CMC Markets’ Oriano Lizza added that when fuel costs spike, operators prioritise margin protection over refuelling, sometimes lifting fuel at cheaper ports instead.
Despite softer bunker demand, Singapore’s status as the world’s largest bunkering hub remains intact, though market outcomes will depend on the interplay of price moves, routing changes, and fleet behaviour in the coming months.
Singapore’s bunker advantage
Despite that, Singapore remains by far the world’s top bunkering port, supplying about 57 million tonnes of marine fuel in 2025.
With shipping lines rerouting away from the Middle East, where another major bunkering hub in Fujairah has been affected by the closing of the Strait of Hormuz, the Republic is a natural bunkering stop for vessels travelling between Asia, Europe, the Middle East, and Africa.
Singapore is also located along the Strait of Malacca, one of the world’s busiest shipping lanes.
“This gives vessels an efficient point to take on fuel without significant deviation from major trade routes,” said Ms Siti.
She added that Singapore also has extensive port infrastructure, large fuel storage capacity, efficient vessel turnaround times, and a deep network of suppliers and traders to support ships and their crew.
“In addition, Singapore is known for regulatory reliability, fuel quality standards, transparent pricing, and the ability to source fuel from diversified suppliers. This gives shipowners confidence in supply security and operational certainty.”
She noted that Fujairah is the Middle East’s main bunkering hub and a key refuelling stop for vessels transiting the Strait of Hormuz and the Indian Ocean.