Shifting Bunker Volumes

In Singapore, bunker demand remained firm in March. The Maritime and Port Authority of Singapore’s Deputy Chief Executive, David Foo, told the IBIA Asia Dinner on 22 April that bunker sales had reached “about 4.77 million tonnes” in March, a 6.6% year-on-year increase. He added: “That is encouraging. But it is not a reason for complacency.” MPA’s monthly statistics also continue to underline Singapore’s position as the world’s largest bunker port. 

Rotterdam moved in the opposite direction. The Port of Rotterdam Authority said bunker sales in the first quarter of 2026 were about 25% lower than in the same period of 2025. The largest fall was in fossil fuel oil, with VLSFO down 44%, HSFO down 25% and ULSFO down 13%. Fossil distillates also weakened, with MGO down 7% and MDO down 11%. The port said possible explanations included the implementation of RED III in the Netherlands, higher prices compared with neighbouring countries, operational effects from regulation and policy, and price volatility. 

That shift appears to have benefited Antwerp-Bruges. Ship & Bunker reported that the Belgian port recorded total first-quarter bunker sales, excluding marine lubricants and LNG, of 2.12 million tonnes, up 37.7% from the fourth quarter and 13.4% from the first quarter of 2025. The report said RED III implementation in the Netherlands appeared to have helped push Antwerp ahead of Rotterdam in the quarter. 

Fujairah, meanwhile, recorded a severe fall in March. Reuters, citing Fujairah Oil Industry Zone data published by S&P Global Energy, reported that bunker sales excluding lubricants totalled 158,852 cubic metres, about 157,300 tonnes, the lowest on record in data available since 2021. Volumes were down by more than 70% from both February and March 2025. 

Panama showed a steadier trend. Ship & Bunker reported that Panama’s first-quarter bunker sales reached 1.43 million tonnes, up 2.7% year on year and the highest quarterly total since the fourth quarter of 2024. March sales were put at 497,900 tonnes by Manifold Times, citing Panama Maritime Authority data. 

Omani bunkering merger completed 
O Bunkering Company and Marafi Services Company have completed a merger to create a unified national entity operating under the O Bunkering name. The companies said the move brings together infrastructure, assets and operational expertise, creating a more scalable marine fuel supplier serving vessels at key Omani ports. Times of Oman described the merger as a “qualitative shift” in the structure of the sector.

PS Energy launches MGO Go 
Singapore-based PS Energy Group has launched MGO Go as its marine fuel and bunkering brand. PS Energy says the new brand brings together coastal, offshore and bunkering capabilities into one integrated marine fuel solution. Manifold Times reported that MGO Go will cover coastal barges, islands, ship-to-ship supply and worksite deliveries, streamlining customer access to the group’s marine fuel services.

Sing Fuels adds specialist desks 
Singapore-based bunker trader Sing Fuels has launched dedicated New Fuels and Offshore Desks. The company said the move would strengthen its ability to serve more complex energy requirements as offshore markets remain active and alternative marine fuel pathways continue to evolve. Managing director Sanket Naik said the desks bring “sharper execution focus” to two complex segments of the business. 

CBL expands in Malaysia 
CBL International, the listed arm of Banle Group, has acquired a 50.5% majority stake in Green Marine Energy Holdings. The deal expands CBL’s Malaysian bunkering footprint and adds exposure to biofuel feedstock trading and sustainable fuel supply chains. Ship & Bunker reported that the acquisition gives CBL a platform in Malaysia, while other coverage said GMH’s activities include bunkering and sustainable energy supply chain operations.

ITOCHU secures green ammonia link 
L&T Energy GreenTech has entered into a long-term partnership with Japan’s ITOCHU for green ammonia supply from a proposed project at Kandla, India. Larsen & Toubro said supplies from Kandla are expected to support ITOCHU’s bunkering operations in Singapore and other locations, enabling early adoption of green ammonia as a next-generation marine fuel. Hydrogen Tech World reported the proposed annual supply at 300,000 tonnes. 

Portland adds LNG STS capability 
Portland Port, in Dorset, has received approval to carry out LNG ship-to-ship transfer operations. Ship & Bunker said the approval adds LNG to the port’s existing oil and LPG transfer services. Portland Port’s own STS page says the new licence will allow LNG transfers directly at the port, helping to reduce transit time and streamline operations for customers needing LNG logistics services.