Marine fuels
Overview
The introduction of new regulations has caused fundamental change across the marine fuel markets. Reliable insight and data reflecting the market direction are more pressing than ever.
Gain daily transparency into the difference between conventional and alternative marine fuel prices and plan ahead more effectively with our market outlook and forecasts.
Our global coverage of marine fuels delivers market-driven price assessments, supply and demand data, price forecasts, and forward curve prices. Along with the latest news, market commentary, and in-depth analysis led by our market experts, our comprehensive insight helps your business decide on the best suited alternative marine fuel for your needs.
Latest marine fuels news
Browse the latest market moving news on the marine fuels industry.
UAE's Fujairah storage terminals resume operations
UAE's Fujairah storage terminals resume operations
Dubai, 6 March (Argus) — Oil product terminals in the UAE's Fujairah port have resumed operations, following a halt caused by drone attacks, trade sources told Argus . Fujairah Oil Tanker Terminal, Vopak and VTTI terminals' main berths are ready to perform cargo loading operations, according to an advisory released by shipping services provider Kanoo Shipping. Vessel tracking platforms show very little activity or vessel presence around the port or in the anchorage area, which a bunker trader said was because "captains switch off their AIS signals for safety reasons." Limited bunker deliveries have been continuing, with supplies offered from marine fuel products loaded on barges before the security situation worsened. At least one supplier loaded new supplies from a terminal late on Thursday, 5 March, traders said. The attacks happened on Tuesday, 3 March , and at least two suppliers declared force majeure on 4 March. It is unclear if they will review the situation. "Those with commitments to supply high-sulphur fuel oil (HSFO) will face challenges because the flow of Iranian and Iraqi HSFO is obviously cut," a supplier said. For Fujairah, the world's fourth largest bunkering center, Iraq and Iran have been the primary source of HSFO — imports from these countries were 210,000t and 432,000t, respectively, in February, data from analytics firm Vortexa show. By Elshan Aliyev Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Shipping companies urge IMO to adopt NZF
Shipping companies urge IMO to adopt NZF
Singapore, 4 March (Argus) — A group of shipping, energy and technology companies has called on International Maritime Organization (IMO) members to adopt the UN agency's net-zero Framework (NZF) this year, urging governments to move forward with the sector's decarbonisation agenda. Nearly 90 companies signed an open letter on 4 March expressing support for implementing the NZF, describing it as "a hard-fought compromise that can provide a clear and credible pathway for the decarbonisation of international shipping" and one that has gained broad industry backing. The letter highlighted the IMO's "tireless" efforts in developing the framework in collaboration with governments, the private sector and civil society. The NZF incorporates several key initiatives, including the IMO's revised greenhouse-gas (GHG) strategy, lifecycle assessment (LCA) guidelines and a potential carbon-pricing mechanism aimed at addressing key barriers to shipping decarbonisation. Signatories also stressed the importance of a global regulatory framework, noting that fragmented policies risk slowing the adoption of alternative fuels and technologies. "Global regulation for the sector creates a shared system that covers emissions from all international shipping: one set of rules that brings clarity for the industry and a stronger signal to invest in new fuels and technologies," the letter said. The appeal follows the postponement of the NZF decision during the IMO's Extraordinary Session in October, after opposition from several member states. The delay has weighed on the marine industry sector that has already begun investing in alternative-fuel vessels, bunkering infrastructure and emerging supply chains to support decarbonisation. The group warned that swift action is needed to sustain momentum in the sector's energy transition. "Action now will create the market for these new vessels and technologies, accompanied by new jobs and economic growth, enabling shipping's full transition and the achievement of the IMO's strategy to deliver net zero shipping by or around 2050." The call echoes the efforts by hydrogen-based fuels (e-fuels) producers when they called on the IMO 's Marine Environment Protection Committee (MEPC) to include steps towards the adoption of e-fuels such as ammonia and e-methanol in the NZF. The companies cited then that e-fuels offer higher emissions reductions and project developers need regulatory certainty to move projects forward. The signatories of today's open letter span the maritime value chain, including shipowners, fuel technology providers, energy producers and logistics stakeholders. Companies backing the call include Singaporean container shipping group X-Press Feeders , German engine manufacturer Everllence, Australian firm CWP Global, Spanish energy firm Moeve, Australian metals producer Fortescue, Netherlands-based shipowner Future Proof Shipping and ship vetting firm RightShip, among others. By Mahua Mitra and Pamela Machado Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
UAE's Fujairah bunker suppliers declare force majeure
UAE's Fujairah bunker suppliers declare force majeure
Dubai, 4 March (Argus) — Bunker suppliers in Fujairah, UAE, the Middle East's largest marine fuels hub, have started declaring force majeure following Iran's retaliation strikes after the US and Israel launched attacks against the country at the weekend. Mediterranean Eastern Enterprise (MEE) served a force majeure notice, saying Iranian "drone attacks have resulted in a significant escalation of hostilities in the wider Gulf region". Bunker supplier Pearl Marine suspended contractual obligations regarding fuel supply because of "the recent missile strikes on commercial shipping, closure of key transit routes and further geopolitical tensions", according to the force majeure notice seen by Argus . Other bunker sellers may have declared force majeure too, but this could not be confirmed. Almost all have stopped offering marine fuels for this month, traders and bunker buyers said. Storage facilities in Fujairah sustained damage on 3 March, with fire breaking out at the port, which was brought under control and extinguished, Fujairah authorities said. Storage operators suspended operations and restricted staff access because of the regional security situation. The port remains open but there is very little activity, according to traders and satellite images. "Some deliveries are carried out in the anchorage area, using existing supplies on the barges," one supplier said. "Once those run out, and if loading from terminals still suspended, then bunkering will stop." The port is a key supplier of bunker fuel for ships transiting the strait of Hormuz and is the world's third-largest crude and products storage hub. By Elshan Aliyev Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Americas MGO prices soar on US-Iran war
Americas MGO prices soar on US-Iran war
Sao Paulo, 3 March (Argus) — Marine gasoil (MGO) prices in the Americas rose again on Tuesday, approaching $1,000/metric tonne (t) at North American ports, as the market continues to absorb the impacts of the US-Iran war. Prices rose for the second consecutive trading day since the US and Israel's weekend attacks on Iran. Continued conflict could reduce the supply of middle distillates — including MGO — in the international market, market participants expect. This has driven the increase in MGO prices to outpace the rise in very-low sulfur fuel oil (VLSFO). Bunker prices in the Americas spiked on Monday because of sharp gains in Brent and Nymex heating oil. Panama VLSFO was assessed at $588/t, the highest since 4 February 2025. Panama MGO was at $923/t, the highest since 30 October 2023. In North America, New Orleans VLSFO ex-wharf rose to $558/t, its highest since 2 April 2025 and MGO ex-wharf to $803/t, the highest since 16 April 2024. VLSFO in New York was at $578/t, the highest since 17 January 2025. The Middle East is the main producing region of middle distillates and the ongoing conflict is preventing the flow of these products through the strait of Hormuz, the only sea outlet for those distillates. Amid the uncertainties about the next steps in the war, some buyers in the Americas have closed spot bunker deals for deliveries at the end of March, anticipating further increases in marine fuel prices. A shipowner bought 150t of MGO at $942/t in New Orleans on Tuesday and the price is already 17pc higher than on Friday, the last trading session before the war began. Even so, most buyers have avoided taking positions because of the wide market volatility. Many suppliers are not providing price indications this week and prices are subject to inquiry. By Gabriel Tassi Lara and Luis Gronda Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Spotlight content
Browse the latest thought leadership produced by our global team of experts.
Explore our marine fuels products
Argus marine fuel solutions provide global daily and forecasted prices for conventional and alternative marine fuel prices, as well as daily forward curves prices.
Key price assessments
Argus prices are recognised by the market as trusted and reliable indicators of the real market value. Explore some of our most widely used and relevant price assessments.
