Join our crew and become one of the 107,047 members that receive our newsletter.

A 2019 view of vessels in the Singapore Strait April 3, 2019. Picture taken on April 3, 2019. REUTERS/Henning Gloystein/File Photo

A 2019 view of vessels in the Singapore Strait April 3, 2019. Picture taken on April 3, 2019. REUTERS/Henning Gloystein/File Photo

Singapore Bunker Fuel Sales Surge as Ships Bypass the Red Sea

Mike Schuler
Total Views: 1136
June 5, 2024

Bunker fuel sales in Singapore have reached record highs as ships take longer routes around the southern tip of Africa to avoid the Red Sea, the U.S. Energy Information Administration said on Wednesday.

The reroutings come in direct response to attacks from Yemen-based Houthi militia that began in November 2023.

The new routes, which often involve rounding Africa’s Cape of Good Hope, add thousands of miles and weeks of travel time.

Consequently, the number of ships transiting the Suez Canal has decreased by about half compared to a year ago. Data from the International Monetary Fund’s Portwatch tool show a decrease from around 75 vessels to about 35 compared with the same time period a year ago.

According to the Maritime and Port Authority of Singapore, bunker fuel sales in Singapore, the world’s largest bunkering port, have increased year over year from December 2023 through the first quarter of 2024. The surge reached an all-time high in December 2023, with more fuel being sold in Singapore than in any other port worldwide.

Unlock Exclusive Insights Today!

Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.

Sign Up
Back to Main
polygon icon polygon icon

Why Join the gCaptain Club?

Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.

Sign Up
close

JOIN OUR CREW

Maritime and offshore news trusted by our 107,047 members delivered daily straight to your inbox.

gCaptain’s full coverage of the maritime shipping industry, including containerships, tankers, dry bulk, LNG, breakbulk and more.