Bunker Holding offers alternative supply options outside Arabian Gulf

Bunker Holding on Tuesday (3 March) said it is offering alternative supply options outside the Arabian Gulf and across the wider region.

“As uncertainty remains high on the market, our role is to stay operationally focused, monitor developments, and support our people and customers with safety as the first priority,” the company said in a social media post. 

Group CEO, Peder Møller, said the company is monitoring developments in and around the Strait of Hormuz hour by hour.

“Shipping activity through the Strait has fallen sharply, some vessels are holding back, and the operational picture across the Arabian Gulf is mixed and changing fast. So, while the market is open, conditions are unusually fluid and require constant attention,” he said.

He added they are already seeing clear reactions in the energy markets with oil prices moving up sharply, tanker rates rising, and some insurers withdrawing war-risk cover in parts of the region from 5 March. 

“We are also seeing clear reactions in the energy markets. Oil prices have moved up sharply, tanker rates have risen, and some insurers have started withdrawing war-risk cover in parts of the region from March 5. That naturally adds pressure across the supply chain and increases uncertainty for everyone operating in the market,” he said. 

“In a situation like this, our job is to stay close to the market and useful to our customers. We are already working with alternative supply options outside the Arabian Gulf and doing what we can to create as much continuity and flexibility as possible. We will keep moving quickly, communicating clearly, and doing what we can to create stability where the situation allows it.” 

Photo credit: Bunker Holding
Published: 4 March, 2026