- Charters quote higher prices amid geopolitical tensions
- Trading slows on market uncertainties, limited firm quotes
Dry bulk iron ore freights increased further w-o-w on 10 March 2026 following increased bunker rates and Brent crude oil futures, although trading activity remained relatively slow, with only a few fixtures concluded at higher levels. The market seems to be lacking clarity with limited firm quotes.
Tight supply conditions emerged in the Singapore marine fuel market amid escalating tensions in the Middle East, according to the latest market information from the trading hub. Market sources indicate that inventories of low-sulphur marine gasoil (LS MGO) have become extremely tight as several cargoes that were earlier expected to arrive in Singapore have either been delayed or are unlikely to arrive at all.
Route wise specifications:
The supply disruption is particularly significant as key exporters such as Iran and Saudi Arabia are among the major suppliers of LS MGO to Singapore. Sources added that several major companies have temporarily suspended barge operators from lifting oil at terminals, while sales outside terminal areas have also been halted. “Limited bunker availability in Singapore has resulted in vessels diverting to Malaysia,” a source stated.
A source informed, “Freight rates are fluctuating sharply amid uncertainty surrounding bunker prices, crude oil movements, and war-related tensions.”
Outlook
Dry bulk iron ore freight rates are likely to remain firm in the near term, supported by tight bunker supply and high fuel prices. However, slow trading and limited firm quotes may keep the market volatile and cautious.
Leave a Reply