Is Shipping Facing a Two-Chokepoint Fuel Risk?
Hormuz has tightened bunker supply. Red Sea risk could weaken the fallback.
Hormuz disruption is already raising fuel costs far beyond the Gulf.
Between July 7 and 22, Singapore VLSFO rose more than 20% to around $800 per tonne.
LSMGO increased more than 28% to $1,200.
Prices also climbed in Zhoushan, Rotterdam and Fujairah.
But price is only part of the problem.
Some Singapore bunker deliveries now require up to 20 days’ notice.
The first shock is already global
The Gulf is a major supplier of bunker fuel to Asia.