finance
First Mexican Fuel Oil Cargo in Nine Months Arrives in Singapore
A tanker carrying about 1 million barrels of Mexican high-sulfur fuel oil reached Singapore on May 8, 2026. The shipment is the first from Mexico to Asia in nine months. High Asian prices and reduced supply from the Middle East have drawn the cargo from the Americas.
May 8, 9:30 AM·1m read1 source
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The first fuel oil cargo from Mexico to Asia in nine months arrived in Singapore on May 8, 2026. The tanker Orion carried approximately 1 million barrels of Mexican high-sulfur fuel oil that departed from the Salina Cruz refinery on Mexico's Pacific coast.
Industry sources told Reuters that more cargoes from Mexico are likely to follow because of favorable arbitrage economics and sufficient supply in the Americas. Asia, particularly the Singapore bunkering and trading hub, has experienced declining fuel inventories in recent weeks after supply from the Middle East was disrupted by the closure of the Strait of Hormuz.
Official data show that onshore oil product inventories in Singapore fell to 44.83 million barrels, the lowest level in nearly ten months. The arrival of the Mexican cargo comes as high prices in the region draw supplies from other producing areas.
The shipment marks a change in global fuel oil flows prompted by the ongoing disruption in Middle East exports. Ship-tracking data from Kpler confirmed the Orion tanker's departure from Salina Cruz and its arrival in Singapore. Traders cited by Reuters said the economics support additional shipments in the near term.
The movement reflects how buyers in Asia are sourcing fuel oil from farther away to replace volumes no longer available from traditional Middle East suppliers.
