International Maritime
Importing & Exporting | Ports | Carriers | Breakbulk | Global Logistics
From shock to shortage
Bunker fuel dislocation, scarcity looms as Hormuz remains shut
By Greg Knowler
Container lines face the prospect of global bunker fuel shortages in the next two to three months if the Strait of Hormuz remains closed to commercial ships carrying oil and gas cargoes.
Such a scenario, where fuel scarcity— particularly the low-sulfur variety— expands from South Asia to other bunkering locations, would put a premium on ships equipped with exhaust scrubbers able to burn high-sulfur fuel.
About 40 % of the global container ship fleet has exhaust gas cleaning systems, according to Alphaliner. The scrubbers remove harmful sulfur oxides and particulate matter from marine exhaust fumes, allowing ships to burn high-sulfur fuel oil( HSFO) while complying with international IMO 2020 pollution regulations.
Carriers say there is still enough bunker fuel supply in general, but the different fuel types— very low-sulfur fuel oil( VLSFO), HSFO, marine gasoil( MGO) and liquefied natural gas( LNG)— are becoming unevenly distributed at key refueling hubs in Asia, notably Singapore.
“ As of mid-April 2026, the Strait of Hormuz closure remains the primary driver of supply anxiety, forcing a significant shift in where vessels choose to lift fuel,” said Fotios Katsoulas, director and head of tankers, freight and alternative fuels research at S & P Global Energy. S & P Global is the parent of the Journal of Commerce.
“ The global bunker market is currently defined by a sharp divide between well-stocked Western hubs and severely constrained Eastern corridors,” he added.“ While we aren’ t seeing widespread‘ dry’ ports, the tightness in specific regions— particularly around low-sulfur blends and high-viscosity fuel for project cargo vessels— is definitely a valid concern.”
And with vessel operators unlikely to transit the strait until they can guarantee the safety of their ships and crews, these conditions could persist long after the war is
12 Journal of Commerce | May 4, 2026 www. joc. com