The crisis in the Middle East<\/b> is affecting supply and routes<\/b>, leading the Greek shipping industry<\/b> to make adjustments to fuel management and route planning<\/b>.<\/p>\n
The Greek shipping industry <\/b>is entering a new operational environment<\/b> shaped by changes in international energy flows energy<\/b> and the turmoil caused by the recent crisis in the Middle East<\/b>, with supplies fuel<\/b> and route management<\/b> being reassessed at key hubs of the global shipping chain<\/b>. Market executives <\/b>report that conditions at major bunkering hubs<\/b>, such as Singapore <\/b>and Fujairah, have changed significantly, affecting the operational planning<\/b> of ships <\/b>and requiring greater flexibility in decision-making<\/b> regarding refueling and routes<\/b>. At the same time, there are increased demands on crew coordination<\/b> and on ensuring the availability of high-quality fuel<\/b>, a fact that reinforces the role of fleet management as a critical factor in competitiveness<\/b> for Greek-owned shipping companies<\/b>.<\/p>\n
The turmoil caused by the conflict in the Middle East<\/b> continues to affect international shipping<\/b>, even after the peace agreement between the U.S. and Iran<\/b>. Ships are forced to travel hundreds of additional nautical miles<\/b> or remain immobilized for days in order to secure<\/b> fuel, as shortages have disrupted established energy supply chains<\/b>.<\/p>\nConcerns <\/h3>\n
Semiramis Paliou, CEO of Diana Shipping, one of the world\u2019s largest publicly traded dry bulk shipping companies, told the Financial Times that the company has been forced at least twice in recent weeks to reroute ships from Japan to South Korea in order to refuel. \u201cOur charterers cannot always find the quantities of fuel they need or procure them at the ports where the ships are scheduled to call,\u201d he said.<\/p>\n
A similar situation was described by Kostas Delaportas, CEO of DryDel Shipping, as shipping industry executives warn that the turmoil will continue despite the agreement reached between Iran and the United States. Donald Trump argued that the agreement would ensure safe passage through the Strait of Hormuz; however, the impact on the supply chain remains severe.<\/p>\n
Athens-based DryDel Shipping is seeing its vessels wait 10 to 12 days to refuel in Singapore or Fujairah \u2014 two of the world\u2019s most important marine fuel supply hubs \u2014 whereas before the crisis, the wait time ranged from two to three days.<\/p>\n
\u201cWe were forced to change course to find a port where we could refuel. From eastern India, we headed to Singapore because we weren\u2019t sure we\u2019d find sufficient quantities of fuel,\u201d Delaportas told the Financial Times.<\/p>\n
He noted that a problem is now also emerging with engine lubricants, as some ships are receiving only 60% of the quantities they have ordered.<\/p>\n
The fuel shortage reflects the broader disruptions caused by the U.S. and Israel\u2019s war against Iran in global supply chains and maritime transport.<\/p>\n
The impact is particularly noticeable on dry bulk carriers, which transport raw materials such as iron ore and grain\u2014essential commodities for the global economy. While the crisis sent freight rates for tankers carrying crude oil and refined products soaring to historic highs, for other shipowners, it mainly resulted in higher operating costs.<\/p>\n
In addition to fuel, expenses for airline tickets\u2014used to transport replacement crews to ships operating in various parts of the world\u2014have also risen.<\/p>\n
Despite the agreement reached over the weekend, market executives estimate that the repercussions will last several months, as ships gradually leave the Persian Gulf and supply chains attempt to return to normal.<\/p>\n
Before the crisis erupted, Fujairah, on the coast of the Gulf of Oman and near the exit of the Strait of Hormuz, was the third-largest ship-supply port in the world.<\/p>\n
Today, according to the pricing agency Argus, it faces severe shortages of very low-sulfur fuel oil (VLSFO), one of the most widely used marine fuels. The conflict has restricted both raw material imports and supplies from Kuwait\u2019s Al-Zour refinery.<\/p>\n
\u201cMost major marine fuel suppliers in Fujairah withdrew completely from the market during the first half of June,\u201d said Xiu Hua Xi, head of marine fuel pricing at Argus.<\/p>\n
The price of fuel in Fujairah surged on June 3 to a record high of $1,495 per metric ton, representing a premium of $714 over Singapore, the world\u2019s largest bunkering port.<\/p>\n
Despite the relative decline in prices following the U.S.-Iran agreement, fuel costs in Singapore remain more than 40% higher compared to the same period last year.<\/p>\n
Semiramis Paliou emphasized that the price surge was accompanied by quality issues. \u201cAs a result of the high prices, we encountered several instances where the quality of the fuel delivered to our ships did not meet the required standards,\u201d she said.<\/p>\n
Low-quality fuel can cause serious damage to ship engines. For this reason, crews conduct inspections before using it. When it is determined that the fuel does not meet specifications, the ships are forced to take it to the nearest port and procure new, higher-quality fuel.<\/p>\n
According to Delaporta, DryDel Shipping\u2019s vessels have been forced to discard unsuitable fuel \u201cvery frequently\u201d in recent weeks, a situation that further increases costs and causes new delays in shipments.<\/p>\n","protected":false},"excerpt":{"rendered":"
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