Russian diesel imports to Singapore hit record highs amid Strait of Hormuz disruptions

Singapore, the world’s largest ship refueling hub, has seen traders begin substituting Middle Eastern oil products with Russian fuel as regional conflict disrupts traditional supply lines.

According to a report by the Financial Times, citing cargo-tracking data from the analysis group Vortexa, Singapore’s diesel imports from Russia have surged sharply since the onset of hostilities.

The data reveals that import volumes in April more than doubled the monthly average recorded in 2025. Shipments from Russia to Singapore gained momentum in March, occurring as global energy prices climb and supply deficits emerge in certain countries due to the ongoing conflict involving the US, Israel, and Iran.

The Singaporean government does not maintain a direct sanctions regime against specific Russian oil products. However, local traders are reportedly required to adhere to the price cap mechanisms established by the G7 and the European Union (EU) if Western companies are involved in the maritime transport. These restrictions extend to diesel, a key petroleum product.

Import volumes reach highest level since 2016

Figures provided by Vortexa document a significant decline in diesel imports to Singapore from Gulf nations in recent months.

Shipments originating from the Middle East, which averaged 522,000 barrels per day (bpd) in January and February, fell to 336,000 bpd across March and April. During the same period, imports from Russia rose from 372,000 bpd to 585,000 bpd.

Projections suggest that Russian diesel shipments to Singapore could break historical records in April, reaching their highest level since 2016.

Veson Nautical, a firm specializing in maritime data, noted that approximately 20 Russian tankers have entered Singapore-linked anchorages this year, some of which are included on EU and US sanctions lists. By comparison, only five such vessels were recorded during the first four months of 2025.

Paola Rodriguez-Masiu, a representative for Rystad Energy, characterized Singapore’s Russian fuel import volumes for April as “massive.”

Rodriguez-Masiu stated that cargoes are being diverted to the hub on a global scale because Singapore is paying a premium for diesel compared to other regions.

Strait of Hormuz disruptions drive up costs

A previous report by Reuters indicated that conflict in the Middle East has disrupted shipments through the Strait of Hormuz, leaving Asian traders struggling to secure alternative sources.

Approximately 3.7 million tons of diesel were typically transported through the Strait of Hormuz each month, with 1.2 million tons destined for Asia, primarily Southeast Asia. As of early March, tanker transits had reportedly decreased by 90% compared to late February.

The supply crunch has impacted pricing. The cost of high-sulfur fuel oil at the Port of Singapore has increased by more than 40%, while low-sulfur fuel prices have risen by over 30%.

Experts emphasize that this trend has inflated ship bunkering costs, leading to a direct increase in maritime shipping expenses.