More tanker vessel arrivals, shipping fuel sold through S’pore port in March

SINGAPORE – Singapore’s bunker fuel sales and tanker arrivals rose in March, even as the war in Iran weighs on global shipping sentiment.

Data released by the Maritime and Port Authority of Singapore (MPA) on April 14 showed that about 4.8 million tonnes of bunker fuel were sold during the month, up 1.9 per cent from nearly 4.7 million tonnes in February.

The sale of liquefied natural gas (LNG), however, took a dip by about 17 per cent, from 59,000 tonnes to 49,000 tonnes.

Tanker traffic also increased, with 2,302 vessels calling at the port in March – a 10 per cent jump from 2,084 in the previous month.

These included 1,651 oil tankers, which is a roughly 10 per cent increase from the 1,503 that had called at Singapore’s port in February.

Maritime expert Yap Wei Yim noted that similar patterns were observed during the same period in 2025, suggesting the uptick may be seasonal, rather than driven by geopolitical developments.

Associate Professor Yap, head of the maritime management minor at the Singapore University of Social Sciences, said it is too early to infer the impact of the war from MPA’s latest figures and cautioned against drawing premature links.

In both 2025 and 2026, bunker fuel sales and tanker arrivals dipped in February before rebounding in March.

The trend for LNG sales, however, diverged from last year’s pattern.

Sales of the gas decreased from 32,800 tonnes to 30,000 tonnes in February 2025, before increasing to 39,000 tonnes in March that year.

In 2026, LNG sales had increased to 59,000 tonnes in February from 42,600 tonnes the month before. The amount sold fell to 49,000 tonnes in March.

Prof Yap said the decline could be linked to supply disruptions in Qatar.

Iran had struck Qatar’s Ras Laffan Industrial City, with the resulting fires damaging a plant that accounts for a fifth of the world’s LNG supply.

Prof Yap added that countries reliant on Qatar for LNG may have to turn to alternative exporters, increasing competition for supply from a smaller pool of sources.

Since the United States and Israel attacked Iran on Feb 28, global oil and natural gas prices have surged, with the Islamic republic closing the Strait of Hormuz in retaliation.

The maritime corridor is a key passageway responsible for the flow of a fifth of global oil and natural gas supplies from the Persian Gulf.

But even if the war were to end soon, Prof Yap warned that oil prices are likely to remain high.

“Demand for oil will remain strong, but supply will still be restricted.

“Even if the Strait of Hormuz is reopened, due to the infrastructural damage and strong demand, oil prices will remain elevated, which in turn will affect costs everywhere, especially since oil affects so many aspects of society.”