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Integr8 Fuels: Can bunkering outside hubs yield better pricing?

Current low bunker price environment and high tanker rates are temporary and once the situation normalises, more attention will go to increasing voyage earnings.
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[vc_row][vc_column][vc_column_text]Integr8 Fuels, the bunker trading and brokerage arm of Navig8, on Tuesday (28 April) published an analysis on factors to consider when selecting a bunker port to optimise voyage savings; it was written by Senior Research Analyst, Anton Shamray: 

The short answer is yes, but not always. Continuous price monitoring is key to identifying price dislocations between different ports.

Overview

The world is currently going through a very turbulent time with oil prices recently falling to the multi-decade lows. Bunker fuel expenses, once being the dominant part of the voyage costs, have for now become somewhat less important, particularly in the tanker market, where freight rates skyrocketed and avoiding delays has taken priority.

However, this low bunker price environment and/or high tanker rates are temporary and once the situation goes back to ‘normal’, more attention will again be paid to reducing the bunker bill to increase voyage earnings.

There are a number of ways that can help and one of these is to be open-minded about the bunkering location, which at times may mean refuelling outside of the major hubs if prices dictate so.

Bunker-only calls no longer a feature of hub ports

The bunker market has transformed extensively in the past couple of decades. From a limited number of bunker-only ports (mostly hubs), many more are now open for bunker-only calls.

As an example, Figure 1 shows both the hubs and the secondary bunker-only locations in the Mediterranean together with vessel traffic.

As can be seen, in addition to the main hubs bunkers can now be picked up in some smaller ports like Lisbon, Sarroch, Augusta, Piraeus as well as Kali Limenes and off-shore in the South Eastern part of the Mediterranean, pricing for which can be obtained on enquiry. Therefore, it is important to monitor prices not only in the hub ports but also in the smaller locations.

The price, of course, is not the only factor to consider. Quality, availability, weather and other delays together with calling costs can influence the bunker location choice. However, with these factors often being equal or near equal, the port and supplier offering the best price usually gets the stem.

Cheapest price not only in hubs

While bunker hubs often mean a higher number of suppliers, better availability and pricing, this is not always the case, particularly following the transition to VLSFO as the main compliant fuel.

The chart above shows an example of what the ‘normal’ bunker pricing would look like. Just over a year ago, in February 2019, a buyer or an operator of a vessel needing bunkers passing through the Mediterranean would habitually enquire in Gibraltar or Malta and typically get the best price compared with the alternatives.

Then the market started changing prior to the IMO2020 transition so the usual pricing relationships between ports were broken. HSFO in some hubs started to sell at hefty premiums to the secondary ports. The bottom chart on Figure 2 shows the $40/mt premium Malta attracted over neighbouring Augusta in early October 2019, potentially resulting in a $20,000 overpayment on a 500mt stem.

From 01 January 2020, with the market fully transitioning to VLSFO as the main compliant fuel, price distortions spiked. For a period of time and due to the very limited availability, Singapore VLSFO was pricing way above anywhere in the region and even above LSMGO. While the bunker market has largely settled, certain pricing dislocations have remained.

Figure 3 shows a couple of recent VLSFO price dislocation cases and the emergence of Lisbon as a viable and often well-priced alternative, which has so far in April on average traded at a $20/mt discount to Gibraltar.

Excluding Lisbon, on 20 March 2020 it was ‘business as usual’ with both Gibraltar and Malta priced at a discount to other ports. However just over a month on, VLSFO prices dropped across the board following the drop in oil prices, although VLSFO in Gibraltar remained relatively strong.

It is estimated that booking a 500mt stem in Gibraltar vs Malta or Lisbon on 22 Apr 2020 would have resulted in at least $10,000 in overpayment. Besides this, Piraeus would have also become a viable option for vessels sailing from the North East of the Mediterranean.

Overall, it is worth noting that bunker prices fluctuate on a daily basis and bunker ports (including hubs) may frequently move from ‘expensive’ to ‘cheap’. Such price movements as well as delays, fuel quality, and changes in port call costs should be closely monitored in order to select the most optimal bunker port, achieve bunker bill savings and increase voyage revenues.


Photo credit and source: Integr8 Fuels
Published: 29 April, 2020[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_gallery type=”image_grid” images=”9821,9822,9823,9824″ title=”Additional Information”][/vc_column][/vc_row]

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Bunker Fuel

Singapore: Bunker fuel sales drops by 6.8% on year in May 2026

4.55 million mt of various marine fuel grades were delivered at the world’s largest bunkering port in May, down from 4.88 million mt recorded during the similar month in 2025, according to MPA data.

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June 15, 2026

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Singapore: Bunker fuel sales drops by 6.8% on year in May 2026

Sales of marine fuel at Singapore port dropped by 6.8% on year in May 2026, according to data from the Maritime and Port Authority of Singapore (MPA).

In total, 4.55 million metric tonnes (mt) (exact 4,548,000 mt) of various marine fuel grades were delivered at the world’s largest bunkering port in May, down from 4.88 million mt (4,878,100 mt) recorded during the similar month in 2025.

Deliveries of marine fuel oil, low sulphur fuel oil, ultra low sulphur fuel oil, marine gas oil and marine diesel oil in May (against on year) recorded respectively 1.79 million mt (-5.3% from 1.89 million mt), 2.29 million mt (-6.5% from 2.45 million mt), zero (-100% from 1,200 mt), 600 (35.2% from 1,700 mt) and zero (from zero).

Singapore: Bunker fuel sales drops by 6.8% on year in May 2026

Bio-blended variants of marine fuel oil, low sulphur fuel oil, ultra low sulphur fuel oil, marine gas oil and marine diesel oil in May, (against on year) recorded respectively 11,600 mt (-71.6% from 40,900 mt), 36,400 mt (-62.1% from 96,100 mt), zero (from zero), zero (from zero) and zero (from zero). B100 biofuel bunkers, introduced in February last year, recorded 12,800 mt (+573.7% from 1,900 mt). 

LNG and methanol sales were 70,300 mt (+56.2% from 45,000 mt) and zero (from zero) respectively. There were no recorded sales of ammonia for the month and so far since 2025.

 

Photo credit: Maritime and Port Authority of Singapore
Published: 15 June, 2026

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Bunker Fuel Quality

Bunker flash: High concentrations of catalytic fines, elevated acid numbers found in Singapore

Maritec-Naias issued an alert regarding high levels of catalytic fines and elevated acid numbers present in multiple VLSFO bunker samples from deliveries in the Singapore port.

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Bunker fuel testing and marine surveying business Maritec-Naias on Friday (12 June) issued an alert regarding high levels of catalytic fines and elevated acid numbers present in multiple VLSFO bunker samples from deliveries in the Singapore port: 

During the period of 20 May 2026 and 02 June 2026, Maritec Pte. Ltd. (hereafter referred to as Maritec-Naias) conducted testing on five samples representing Very Low Sulphur Fuel Oil (VLSFO) deliveries from two suppliers in the Singapore port. The analyses revealed Aluminium and Silicon (Al+Si) concentrations ranging from 61 mg/kg to 68 mg/kg.

It is important to note; these values exceed the ISO 8217:2010/2017 specification limit of 60 ppm but remain within the permissible tolerance limit of 72 ppm under ISO 4259 for a single test result. In this regard, Catalytic Fines content, (Aluminium+Silicon), above 60 ppm is regarded as high. Of the five samples, three originated from one supplier, while the remaining two were from another.

Aluminium and Silicon constitute the principal classes of abrasive solids in fuels. Elevated concentrations of such particles at the engine inlet can precipitate abnormal wear and tear of fuel system components, piston rings, and cylinder liners. To safeguard against this, many engine manufacturers stipulate a maximum threshold of 15 mg/kg Al+Si at the engine inlet.

The primary method of mitigating Catfines is through an efficiently operating fuel purification system. Monitoring Aluminium and Silicon levels both before and after centrifugation provides a reliable measure of the system’s effectiveness in removing these contaminants.

During a similar period, Maritec-Naias also tested fifteen bunker fuel samples representing VLSFO that exhibited elevated Acid Numbers, ranging from 2.0 mg KOH/g to 2.5 mg KOH/g. While these values remain within specification limits, they are nonetheless considered at higher side. Elevated Acid Numbers may stem from contamination with acidic compounds such as Phenolic compounds and Alkyl Resorcinols, often associated with Estonian Shale Oil. Such contaminants can lead to operational complications including sludge formation, fuel pump seizures, and compromised injection equipment cleanliness.

Maritec-Naias Recommendations

  • High Catfines monitoring: Maritec-Naias advises collecting samples at critical points within the fuel system — including the fuel oil tank transfer pump, before and after centrifuge, service tank, and after fine-filter — to evaluate the efficiency of fuel cleaning.
  • Elevated Acid Numbers: For fuels with elevated Acid Numbers, Maritec-Naias recommends conducting Gas Chromatography-Mass Spectrometry (GC-MS) using the Solid Phase Extraction (SPE) method to identify the specific acidic compounds present or upgrading your marine fuel testing package to MFTP Plus, which enables pre-emptive monitoring to detect major harmful substances prevalent in the market, such as Cashew Nut Shell Liquid (CNSL), Phenolic compounds and Alkyl Resorcinols that cause damage to equipment.

Maritec-Naias states, while all data and findings presented in this document are true, it does not reflect on the overall quality of fuel being supplied in Singapore region. If you intend to bunker at this region, please request for a Certificate of Quality (CoQ) prior to loading.

 

Photo credit: Hans Reniers on Unsplash
Published: 15 June, 2026

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Incident

Three dead after supply boat sinks following collision off Pasir Panjang Terminal

PCG recovered three bodies from the waters after a supply boat sank off Pasir Panjang Terminal on 12 June 2026 at about 9.30am following a collision with a landing craft.

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June 15, 2026

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The Maritime and Port Authority of Singapore (MPA) on Friday (12 June) said a supply boat sank off Pasir Panjang Terminal at about 9.30am after colliding with a landing craft. 

MPA, Police Coast Guard (PCG), and SCDF Marine Division, immediately activated their crafts to the incident site and commenced search and rescue operations.

“The landing craft is stable with no reported injury to crew on board,” MPA said in a statement. 

PCG has recovered three bodies from the waters, believed to be deceased crew members of the sunken supply boat. Search and rescue operations, including diving operations, are ongoing to determine if there are other crew members from the supply boat missing.

“Port operations have not been affected. Navigational broadcasts have been issued advising vessels to keep clear of the incident area,” it added.

“Investigations into the incident are ongoing.” 

 

Photo credit: Manifold Times
Published: 15 June, 2026

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