Bunker Fuel

Argus Media: UAE’s Fujairah braces for return of Iranian HSFO

Marine fuel market participants in the Middle East’s bunkering hub of Fujairah are cautiously optimistic and a little anxious about what will happen now after US and Iran have agreed to ease regional tensions.

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1 hour ago

June 26, 2026

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Marine fuel market participants in the Middle East’s bunkering hub of Fujairah are cautiously optimistic and a little anxious about what will happen now that the US and Iran have agreed to ease regional tensions.

23 June 2026

As part of the agreement, the US has allowed unlimited sales of Iranian crude and refined products, which could see a return of Iranian high-sulphur fuel oil (HSFO) to Fujairah.

While this offers a potential path to normalisation of the trading environment, which has been heavily affected by shipping disruptions in the strait of Hormuz, local traders, suppliers, and buyers remain somewhat sceptical about the timeline, enforcement, and practical implementation of agreed actions.

Iran had been a key supplier of HSFO to Fujairah, accounting for 25pc of all imports, or 70,000 b/d, in 2025, oil analytics firm Vortexa’s data show.

These supplies were cut off as relations between the UAE and Tehran deteriorated. During the war, Iran repeatedly attacked Fujairah’s infrastructure, with Tehran accusing the UAE of collaborating with the US and Israel.

Some bunker suppliers cannot see the return of stable trade, at least in the near future.

“We are hopeful, but there is anxiety in the market that relations have received too much damage,” a senior Fujairah-based bunker supplier said. “Everything hinges on how bilateral diplomatic relationships between the UAE and Iran navigate this transition phase.”

Others said the economic benefits of the trade will help to overcome difficulties in bilateral relations. But, in the post-sanction period, the fuel will not be as cheap as before, they said.

Even if sanctions are smoothly lifted, local suppliers anticipate intense competition for Iranian straight-run HSFO from Asian refiners with upgraded secondary processing units, which will be eager to secure supply as a highly economical cracking feedstock.

“Fujairah won’t be the only buyer in town once the Iranian HSFO is freed from shackles,” a regional fuel oil trader said. “Once those barrels are fully legitimised and the banking channels clear, big players will return to feed the appetite of massive, sophisticated refining complexes across Asia.

“The resulting premium structure could easily price local bunker blenders right out of the market,” the trader said.

For the very low-sulphur fuel oil (VLSFO) sector, Fujairah’s supply recovery remains heavily reliant on consistent product flows from Kuwait’s 615,000 b/d al-Zour refinery. Shipments from the plant will be capped, at least until late in the third quarter.

“The region is entering a peak summer demand period and Kuwaiti domestic power utilities will inevitably prioritise burning low-sulphur fuel oil for electricity and air conditioning over exporting it,” said a bunker trader.

Combined with lingering security anxieties regarding transits through the strait of Hormuz, the Fujairah market is not factoring in prompt VLSFO supply from al-Zour anytime soon.

Fujairah VLSFO premiums against Singapore cargo benchmarks hit unprecedented highs of $700/t earlier in June, due to an acute local product shortage.

Premiums fell ahead of an arrival of a 100,000t low-sulphur fuel oil cargo from Nigeria’s Dangote on 20 June, with more suppliers emerging with offers for end-June. But premiums remain above $300/t, because there have been sharper falls in the Singapore cargo benchmark price and freight netbacks remain high. In normal market conditions, the VLSFO bunker premium is in a range of $5-15/t.

By Elshan Aliyev

Photo credit and source: Argus Media
Published: 26 May, 2026

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Legal

Singapore: Bunker Partner succeeds in High Court bid to wind up Victory Shipping

Estonia-based marine fuels and commodities trading company Bunker Partner filed a winding up application against Victory Shipping on 13 April.

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53 minutes ago

June 26, 2026

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Singapore: Estonian firm Bunker Partner files bid to wind up of Victory Shipping

The High Court of Singapore granted a winding up order against Victory Shipping Pte Ltd on 12 June, according to a Thursday (25 June) notice on the Government Gazette.

The winding up application was filed by Estonia-based marine fuels and commodities trading company Bunker Partner on 13 April.

Victory Shipping, with representations in Malaysia, India and the U.A.E., operates dry bulk shipping contracts around the globe with voyages performed mainly in the Middle East and Southeast Asia.

The winding up order also included the following name and address of a liquidator:

Mr Farooq Ahmad Mann
C/o M/s Mann & Associates PAC
3 Shenton Way #03-06C
Shenton House
Singapore 068805

The notice noted that all creditors of the Victory Shipping should file their proof of debt with the liquidator who will be administering all the affairs of the company.

Manifold Times previously reported a virtual hearing between Victory Shipping and Integr8 Fuels Pte Ltd, organised by the High Court of the Republic of Singapore.

The event was to set aside a statutory demand served on 3 October 2025 by Integr8 Fuels lawyers under Section 125(2)(c) and Section 10 of the Insolvency, Restructuring and Dissolution Act 2018 (IRDA) against Victory Shipping, according to court documents obtained by the bunkering publication.

Integr8 Fuels provides bunker trading and brokerage services to shipowners and operators that enables them to optimise fuel procurement.

Photo credit: Manifold Times
Published: 26 June, 2026

Digital platform

VPS debuts VeriSphere Webshop, enhancing digital access to marine fuel solutions

Key addition is the MySurveys application, designed to support bunker quantity survey processes by providing detailed insights into quantity losses, density variations, and bunkering performance.

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58 minutes ago

June 26, 2026

Admin

VPS debuts VeriSphere Webshop, enhancing digital access to marine fuel solutions

Marine fuels testing company VPS on Thursday (25 June) announced the launch of its VeriSphere Webshop, a major step forward in the evolution of its digital platform and customer experience.

The new webshop provides customers with direct, self-service access to a growing portfolio of VPS products and services, including digital applications, Application Programming Interfaces (APIs) and sampling equipment; enabling faster, more flexible engagement with VPS’s global offerings.

The VeriSphere Webshop has been designed to simplify how shipowners, operators, and stakeholders across the marine fuel value chain, access critical tools and data. Through a streamlined interface, users can:

Browse and subscribe to VPS digital applications
Purchase services and products directly online
Discover complementary solutions tailored to their operational needs from VPS as well as its ecosystem partners

Alongside the launch of the webshop module, VPS continues to expand the capabilities of its VeriSphere platform, introducing new applications and enhancing existing solutions to deliver deeper operational insights.

A key addition is the MySurveys application, designed to support bunker quantity survey processes by providing detailed insights into quantity losses, density variations, and bunkering performance. This capability represents an important step in the digitalisation of traditionally manual survey processes, enabling greater transparency and benchmarking across operations.

Further enhancements across the platform reinforce VPS’s commitment to delivering actionable, data-driven insights across fuel quality, equipment performance, and operational risk management.

With continuous improvements to applications such as PortStats and the broader VeriSphere suite, VPS is enabling customers to move beyond static reporting toward pro-active operational intelligence.

By combining its extensive global fuel quality database with advanced analytics and digital delivery, VPS aims to empowere its customers to identify risks early, optimise fuel performance, simplify compliance and improve operational efficiency.

Dr. Malcolm Cooper, CEO at VPS, said: “The launch of the VeriSphere Webshop marks an important milestone in our digital journey.

“We are making it easier than ever for our customers to access the data, insights, and tools they need, when they need them. As the maritime industry continues to evolve, our focus is on delivering scalable, digital solutions that drive better decision-making, improve operational performance of vessels, prevent downtime and support the transition towards more sustainable maritime operations.”

VPS added that the VeriSphere Platform will continue to evolve with an expanding portfolio of products, services, and ecosystem partnerships.

Photo credit: VPS
Published: 26 June, 2026

Alternative Fuels

ICS report: LNG and biofuels seen as most viable marine fuels over next decade

This was followed closely by HFO combined with abatement technologies while methanol ranked in fourth place, according to ICS’s new Maritime Barometer Report.

Published

1 hour ago

June 26, 2026

Admin

A new report by the International Chamber of Shipping (ICS), published on Tuesday (23 June) found that LNG and biofuels are seen as the most viable marine fuels over the next decade.

This was followed closely by HFO (Heavy Fuel Oil) combined with abatement technologies while methanol ranked in fourth place.

The report found that in 2025 to 2026, maritime leaders are displaying a preference for traditional fuels that have established supply mechanisms.

The ICS Maritime Barometer Report 2025–2026 surveyed C-suite level leaders, shipowners, and operators worldwide to identify the key risk areas shaping shipping.

Despite slight decline, LNG shared top spot with biofuels as one of three most viable future fuels over the next decade.

LNG maintained its position as a joint leading fuel in the Barometer, with roughly 51.35% of leaders naming it as one of the most viable fuels over the next decade.

“This is despite a marginal softening in sentiment amongst maritime leaders compared to last year’s survey, reflecting its continued role as the most immediately scalable alternative within the current fuel mix,” the report said.

However, the report noted that this positioning is increasingly shaped not just by infrastructure maturity, but by how geopolitical instability translates into fuel-specific perceptions of security, routing exposure, and price volatility across global trade flows.

This is particularly evident in Asia-Pacific and the Middle East, where LNG’s role is reinforced through continued investment in import and bunkering infrastructure.

Singapore remains the world’s leading LNG bunkering hub, supported by expanding small-scale supply chains and vessel availability, while South Korea and China are rapidly scaling receiving and bunkering capacity to support both shipping and power demand growth.

Biofuels record one of the sharpest increases in sentiment across the future fuels landscape to match LNG at 51.35% in this year’s report.

“This could reflect a shift driven less by structural conviction and more by operational response to heightened uncertainty in global energy and trade systems,” it said.

Their growing prominence could be closely linked to the increasing attractiveness of low-friction compliance options in a context where alternative fuels remain constrained by uneven infrastructure development, fragmented regulatory alignment, and delayed capital deployment across key regions.

Compared with LNG, which is shaped by infrastructure lock-in and geopolitical price exposure, biofuels offer immediate operational flexibility.

Japan has emerged as a key driver of marine biofuel adoption, with government-backed trials involving major shipping lines such as NYK testing biofuel blends on international routes. China has also expanded pilot programmes using biodiesel and waste-derived fuels in coastal shipping, reflecting a pragmatic approach to emissions reduction in regional trade flows.

Note: The ‘ICS Maritime Barometer Report 2025–2026’ can be viewed here.

Photo credit: william william on Unsplash
Published: 26 June, 2026