Singapore VLSFO back above $1,000 a tonne as fuel costs end Villa Vie Odyssey's cruise
A 3,000-tonne stem now costs about $3m against $1.56m before the war, and Rotterdam is $240 cheaper than Singapore
Very low sulphur fuel oil in Singapore has climbed back above $1,000 a tonne for the first time since March, as the Iran conflict keeps pushing up bunker bills across the merchant fleet.
VLSFO broke the threshold on 28 October at $1,000.50, reached $1,019.50 on Friday 30 October and eased to $1,003.50 on Monday. High sulphur fuel oil was assessed at $898.50 on Monday and marine gasoil at $1,263.
Singapore VLSFO stood at $521.50 immediately before the US-Israeli strikes on Iran began on 28 February. It peaked at $1,120.50 on 13 March and is now more than 92% above its pre-war level. A ship taking 3,000 tonnes now pays about $3m, against $1.56m before the war.
Where is fuel cheaper?
Prices have spread widely by region. Rotterdam VLSFO was assessed at $763.50 on Monday, around $240 below Singapore, while Fujairah stood at $991.50. Shortages and longer delivery lead times around the Hormuz crisis are forcing some ships to rethink where and when they refuel.
Scrubber-fitted ships keep an advantage, with the Singapore VLSFO-HSFO spread at $105 a tonne. Alternative fuels are not escaping the rise. ENGINE put LNG bunkers in Singapore at $1,939 a tonne on Monday, up $74 in a week, and Rotterdam LNG at $1,873, up $97, although LNG and oil-based prices are not directly comparable by weight.
Which operator has stopped sailing?
The cost has now ended one cruise business's voyage. The residential ship Villa Vie Odyssey left Sihanoukville early on 4 November with no passengers and around 50 crew. Her Florida-based owner, Villa Vie Residences, suspended operations there last week and forced more than 200 passengers ashore, saying fuel price increases from the Iran war had made operations prohibitively expensive.
The passengers had paid tens of thousands of dollars to live on board for years, and the ship had been sailing the world for at least 755 days. Taing Sochitkrishna, head of the Sihanoukville tourism department, said around 100 passengers remained in Cambodia while others had largely flown elsewhere in the region. The ship's final destination is unconfirmed, with some passengers and tracking websites pointing to Singapore. The company did not respond to requests for comment.
This story is part of the Maritime Briefing of 5 November 2026.
