Bunker-fuel costs rise sharply as shipping demand surges

Bunker-fuel prices at the Nueva Singapur deep-water port complex reached 612 florins per tonne on October 26, up from 564 florins on September 28, according to the Port Authority's daily fuel index. The 8.3 percent increase reflects both rising global crude prices and heightened demand from the surge in cross-regional container traffic expected before the year-end shipping window closes.

Shipping lines operating regular service between Nueva Singapur and Costa Mar have begun absorbing the fuel surcharge into freight rates; the Port Authority reported that carriers increased standard container surcharges by 2 to 3 percent on October 25. The cost pressure is expected to ease in November as seasonal demand moderates.