Global maritime patterns have been dislocated in recent months as Iranian-backed Houthi rebels in Yemen have assaulted vessels in the Red Sea, acting in support of Hamas’s struggle against Israel. The subsequent rerouting of vessels has boosted flows through an already-bust Singapore hub.
Although the majority of fuel sold in Singapore last month was conventional heavy oil products, the amount of liquefied natural gas traded was a record, the data showed. LNG sales were just shy of 49,000 tons last month, up 37% on-month.
