Recently, marine bunker fuel sales at Fujairah port in the UAE experienced a decline to five-month lows, reaching 610,498 cubic meters, as reported by Fujairah Oil Industry Zone (FOIZ) data. The ongoing attacks on ships in the Red Sea by Houthi militants contribute to a cautious shipping sentiment in the Middle East.
Regional Caution Amidst Attacks
Recent assaults in the Red Sea have prompted major shipping companies, including MSC and A.P. Moller-Maersk, to avoid the Suez Canal. The ripple effect of these events is reflected in the cautious approach of shippers in the Middle East, influencing the market dynamics of low-sulphur and high-sulphur bunker fuel sales in Fujairah.
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Source: XM
