Bunker fuel reached USD 1,073 per tonne in Singapore, a new all-time record, as the Strait of Hormuz disruption spread through maritime logistics.
Global IFO380 averaged USD 841 per tonne, up 85% from USD 456 a month earlier. CMA CGM and MSC announced emergency fuel surcharges from 23 March of USD 150 per TEU on long-haul dry containers, and at least a fifth of the world's heavy fuel oil exports remain trapped in the Middle East.
For spare parts procurement the effects are direct: freight surcharges on every shipment, Asia to Gulf transits 10 to 14 days longer as vessels reroute, and suppliers in Europe and East Asia adjusting lead times as insurance premiums climb.
When one corridor is disrupted, verified suppliers across Korea, China, Japan and Europe let you change route instead of waiting. The companies that come through best are the ones that set up their sourcing relationships before the crisis.