Ship fuel prices at major hubs in Europe and Africa have shown a downward trend, according to Intercop’s market report in Las Palmas on Sunday, September 26, 2026. This cost dynamic is unfolding against a backdrop of ICE Brent crude trading at $104.69 a barrel, as hopes for a diplomatic agreement to reopen the Strait of Hormuz offset the persistent risks keeping maritime traffic at minimal levels.
In the Atlantic region, the Canary Islands are consolidating their strategic position as a bunkering and service hub for large vessels sailing around the African continent or crossing the mid-Atlantic. Stable supply at the Canary Islands’ ports contrasts with the severe congestion and delays seen in other regions, positioning the islands as a key neutral technical stopover amid price volatility in the area.
Further south, the West African and sub-Saharan African market is showing mixed performance, marked by logistical problems and tight inventories. In Durban, South Africa, the price of VLSFO rose by $24 per metric ton, while LSMGO plunged by $49 per ton and heavy fuel oil fell by $11. Longer delivery lead times at South African ports are increasing the reliance of vessels in transit on supply points along the West African coast and the Canary Islands corridor.
Meanwhile, the strategic Strait of Gibraltar route is showing substantial cuts across virtually all marine fuels. The price of VLSFO in Gibraltar fell by $20 per ton, LSMGO dropped by $47, heavy fuel oil declined by $19 and the B30-VLSFO biofuel blend decreased by $8 per metric ton. These corrections in the Gibraltar market bring prices at the gateway to the Mediterranean into line with the fluctuations observed at other major European logistics hubs, such as Rotterdam.
The article Bunkering at the Port of Tenerife’s Capital: Supply Insights Amid Atlantic Logistics Delays was first published on canarymaritime.com.
