EMEA News
Red Sea: Fujairah Among Ports Seeing Increased Bunker Demand as Ships Divert
Glander International Bunkering today has added its voice to those warning of disruption to the bunker markets as a result of recent attacks against commercial vessels in the Red Sea.
"With the disruption of key trade route linking Europe and North America with Asia through the Suez Canal, exporters and shippers are increasingly looking to find alternative ocean transportation routes," the bunker company said in a post on its website today.
Ship- and freight forwarders face disruption and freight cost rises as vessels divert round the Cape of Good Hope, a move it notes can add as much as 30 days to a voyage,
"As a result, we are seeing an increase in bunker demand in East/West Africa and the Arabian Gulf. This is primarily in Durban, Port Louis, Canary Islands, Salalah, and Fujairah," Glander added.
"Effects include longer lead times as barge schedules are booked up and cargo/supplier avails become tighter.
"Ultimately, this leads to higher premiums which could disrupt bunker plans."
Rising tensions in the region since attacks began in November in response to Israel's military campaign in Gaza, came to a head earlier today with US and UK military forces conducting joint strikes against targets in Yemen.
