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Jun 02, 2026

Tradewinds Article: Strait of Hormuz closure continues to hit fuel prices

Published 2 June 2026, 16:51

Shipowners continue to face a shortage of fuel as Middle East exports remain constrained due to the closure of the Strait of Hormuz.

Costas Delaportas, chief executive of DryDel Shipping, said vessels have waited for up to 12 days to get bunkers, and in many cases are having to reroute to get access to fuel.

Delaportas, whose fleet consists of 14 modern Japanese-built dry bulk vessels, suggested that with fuel availability down by as much as 60%, the International Maritime Organization should mandate slow steaming to save fuel.

Tradewinds Link: Strait of Hormuz closure continues to hit fuel prices as vessels forced to reroute for bunkers