More than seven months into the war on Iran, shipping companies are changing how and where they purchase marine fuel. With bunker prices remaining more than 70% above pre-conflict levels, operators are increasingly relying on spot purchases, shorter-term contracts and alternative bunkering locations to manage costs and reduce exposure to market volatility.
Rather than committing to large fuel purchases in advance, some shipowners are buying smaller quantities based on daily prices and immediate voyage requirements. This approach offers greater flexibility when prices fluctuate, allowing operators to limit their exposure if market conditions improve. Industry executives report that contracts once spanning six months or a year are increasingly being shortened to periods of just one quarter or one month.
Disruptions to key Middle Eastern shipping routes have also prompted companies to reconsider traditional refueling patterns. Fujairah, a major regional bunkering hub, has faced heightened uncertainty, driving more inquiries toward alternative ports. Locations such as Port Louis in Mauritius, Colombo in Sri Lanka and Salalah in Oman are seeing increased use, while demand is also growing across parts of Africa and South Asia.
New supply options are emerging as companies look beyond established bunkering centers. Vitol began offering bunkering services at Pakistan’s Gwadar Port in July, providing an additional location outside the Strait of Hormuz to serve vessels operating in the Gulf region. These developments reflect a broader effort to diversify fuel supply routes and reduce dependence on individual ports.
For shipowners and operators, the shift toward flexible purchasing and diversified supply highlights how geopolitical disruptions can reshape marine fuel procurement. With prices, port availability and vessel routing remaining unpredictable, access to reliable suppliers across multiple locations is becoming an increasingly important part of managing operating costs and maintaining voyage schedules.
