Gibraltar is one of the world's largest bunkering locations. File Image / Pixabay

Calls at Gibraltar for bunkering jumped to the highest level on record last month as the Iran war continued to reshape global bunker demand.

Gibraltar saw 599 vessels calling at the port for bunkering in May, according to the latest data from the territory's government, up from 533 the previous month and from 573 in May 2025. The average monthly figure over the previous year was about 457.

May's total was the highest figure since at least the start of 2011, the earliest date for which data are available.

Image Credit: Ship & Bunker / Data Credit: HM Government of Gibraltar

The gross tonnage calling at the western side of Gibraltar, where bunkering takes place, reached 22 million GT in May, up from 20.5 million GT in April and from 20.6 million GT in May 2025. These figures demonstrate that May's rise in bunker calls does not simply reflect a rise in small ships calling at the port, which would have little effect on bunker volumes.

Bunker hubs away from the Middle East like Gibraltar have generally seen a rise in demand since the start of the war in Iran, with regional demand displaced from the Middle East needing to find new homes elsewhere, and with ships taking on longer voyages because of the disruption to normal trade routes.

Image Credit: Ship & Bunker

Part of Gibraltar's relative advantage during the recent disruption has been its pricing because of access to fuel oil supplies unaffected by Middle Eastern outages. VLSFO delivered in Gibraltar has traded at an average discount to Ship & Bunker's G20-VLSFO Index of global prices of about $124.50/mt since the start of March, compared to an average discount of $28.50/mt in the three months prior to the outbreak of war.