Bunker costs surge as Nueva Singapur port navigates supply crunch

Bunker-fuel costs at Nueva Singapur have climbed 8.3 percent in the past three weeks, driven by supply tightness in the regional fuel market and unplanned refinery maintenance affecting two major suppliers. The surge is rippling through the operational week of the deep-water berth, where 34 vessels are scheduled to dock through Friday, each carrying fuel surcharge notices from their operators.

The Port Authority reported that Thursday's arrival of the container ship Meridian Express triggered a dispute with its operator, Stella Shipping, over whether the fuel spike qualified as a force-majeure event under their terminal agreement. The Authority's position is that pricing volatility, however sharp, falls within normal commercial risk. Stella Shipping's representative, Captain Dmitri Volkov, said the company would absorb the cost this week but flagged that further rises would force a reroute through Costa Mar ports.

Federal Treasury Minister Marcus Eklund has asked the Port Authority and the Oriente Moderno Financial Authority to prepare a joint briefing on fuel-price transmission into shipping costs and whether federal regulation of bunker markets is warranted. The question cuts across the Republic's trade balance, since fuel surcharges passed to shippers ultimately land on export cooperatives in Tierra Verde and tourism operators in Costa Mar.