The turmoil caused by the Middle East conflict continues to affect international shipping, even after the peace agreement between the US and Iran. Ships are forced to travel hundreds more nautical miles or remain immobilized for days to secure fuel, as shortages have disrupted established energy supply chains.
The Semiramis Old Man, Managing Director of the Diana Shipping, one of the largest listed dry cargo companies worldwide, told Financial Times that the company was forced at least twice in recent weeks to divert ships from Japan to South Korea in order to refuel. "Our charterers cannot always find the quantities of fuel they need or supply them in the ports where ships are to sail," he said.
A similar picture was described by Costas Delapartas, CEO of DryDel Shipping, as shipping industry officials warn that turbulence will continue despite the agreement reached between Iran and the United States. Donald Trump argued that the agreement would ensure safe passage from the Straits of Hormuz, however the impact on the supply chain remains intense.
DryDel Shipping, based in Athens, sees its ships waiting from 10 to 12 days to refuel in Singapore or Fujira — two of the world’s most important marine fuel supply centers — when the waiting time ranged between two and three days before the crisis.
"We had to change course to find a supply port. From eastern India we headed to Singapore, because we were not sure we would find sufficient amounts of fuel," Delapartas told the Financial Times.
He noted that a problem now occurs in engine lubricants, as some ships receive only 60% of the quantities they have ordered.
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