Mabux: Global Bunker Prices

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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
737.50
-2.00
672.00
-3.00
Sep 29
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	737.50	-2.00	672.00	-3.00	Sep 29

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
451.29	-2.34	522.37	-2.21	779.69	-1.63	Oct 2

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MABUX Market Differential Index (MDI)

Correlation between market bunker prices (MBP) and MABUX Digital Bunker Price Benchmark (DBP)

All Indexes in $/mton	380HSFO			VLS FO			MGO LS			Date
All Indexes in $/mton	MBP Index	DBP Index	MDI	MBP Index	DBP Index	MDI	MBP Index	DBP Index	MDI	Date
Rotterdam	399	424	-25	444	476	-32	672	697	-25	Oct 2
Singapore	410	419	-9	482	513	-31	676	690	-14	Oct 2
Fujairah	396	394	+2	483	502	-19	725	753	-28	Oct 2
Houston	410	403	+7	468	462	+6	674	680	-6	Oct 2

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Digital Bunker Prices
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Analytical Section
- Daily and Weekly Bunker analyses and Future Curves
- World and regional Bunker indices
- Bunker Price Forecast for 40+ ports
- Digital Bunker Prices
MABUX for Industry
- API for integration with your application, custom solutions available upon demand
- Bunker market analyses upon request for required region or port
- Bunker Price seminars that allow to learn how to use MABUX tools for bunker business
- MABUX Open Bunker Directory features contact details of bunker suppliers, traders and brokers worldwide.
Latest News
- 2025-10-02
  Oil prices drop to four-month lows on oversupply concerns
  Oil prices fell over 1% to their lowest in four months on Thursday, extending a run of declines into a fourth day, due to concerns about oversupply in the market ahead of a meeting of the OPEC+ group over the weekend. Brent crude futures fell 80 cents,... Read more Oil prices fell over 1% to their lowest in four months on Thursday, extending a run of declines into a fourth day, due to concerns about oversupply in the market ahead of a meeting of the OPEC+ group over the weekend.
  Brent crude futures fell 80 cents, or 1.2%, to $64.55 a barrel at 11:27 a.m. ET (1527 GMT). U.S. West Texas Intermediate crude dropped by 75 cents, also 1.2%, to $61.03 a barrel.
  OPEC+ could agree to raise oil production by up to 500,000 barrels per day in November, triple the increase made for October, as Saudi Arabia seeks to reclaim market share, three sources familiar with the talks said.
  Jorge Montepeque, managing director at Onyx Capital Group, said some banks, such as Macquarie, have put out predictions of a super glut in oil markets, which have weighed on sentiment.
  "The writing is on the wall," investment research firm HFI Research wrote in a blogpost. "US oil inventories will build into year-end, and more global visible inventory builds will take place. Couple that with higher OPEC+ crude exports, and the end result is a persistently weaker oil market environment," they wrote.
  The Energy Information Administration said on Wednesday that U.S. crude oil, gasoline and distillate inventories rose last week as refining activity and demand softened.
  Oversupply concerns have been compounded by signs of weak demand, PVM Energy analysts wrote. "Oil demand forecasts diverge considerably, but on average, they show this year’s figure revised down by 150,000 bpd between January and September," they noted.
  
  The Group of Seven nations’ finance ministers said on Wednesday they will take steps to increase pressure on Russia by targeting those who are continuing to boost purchases of Russian oil.
  Limiting oil’s losses, the U.S. will provide Ukraine with intelligence for long-range missile strikes on Russian energy infrastructure, two officials told Reuters on Wednesday, confirming an earlier Wall Street Journal report.
  This will make it easier for Ukraine to hit refineries, pipelines and other infrastructure with the aim of depriving the Kremlin of revenue and oil, the WSJ said.
  "There is some concern in the market again that Russian oil could get disrupted," said Giovanni Staunovo, commodity analyst at UBS. But as long as there are no disruptions yet, the impact on prices will likely be minor, he said.
  
  Stockpiling demand from China, the world’s largest crude oil importer, also underpinned oil prices, limiting the downside, traders said.
  Meanwhile, the largest U.S. fuel conduit, the Colonial Pipeline, was shut on Thursday due to unplanned system maintenance, a company spokesperson said. The company expects to restart operations before noon ET, the spokesperson noted. Source: Reuters/Investing.com
- 2025-10-02
  NYK and Stolt Tankers lift chemical tanker order book to eight vessels
  NYK Stolt Tankers, a joint venture between NYK and Stolt Tankers, has signed a contract with Nantong Xiangyu Shipyard in China to build an additional two parcel chemical tankers which will feature energy saving technologies and will be able to plug in... Read more
- 2025-10-02
  Hurtigruten to embark on first 100% advanced biofuel sailing
  Hurtigruten will undertake its ‘first climate-neutral biofuel sailing’ on 29 October. The company’s battery-hybrid ship MS Richard With will depart from Bergen on its regular coastal route with its tanks filled with 100% advanced biofuel. In a statement... Read more
- 2025-10-02
  IMO-led programme explores ferry electrification in Türkiye
  The IMO’s GreenVoyage2050 programme and Türkiye’s Ministry of Transport and Infrastructure have hosted consultations in Istanbul to examine the potential of electrifying ferries operating in the Sea of Marmara. The consultations, which took place at... Read more
- 2025-10-02
  Oilmar DMCC management buy-out ‘almost completed’
  Dubai-headquartered fuel trader Oilmar DMCC has informed ship.energy today (2 October) that its planned management buy-out process is now ‘almost completed’. As previously reported, Oilmar DMCC management announced on 22 September that they were looking... Read more
- 2025-10-02
  IMO publishes seafarer training guidelines for alternative fuels
  The International Maritime Organization (IMO) has formally issued generic interim guidelines that set out an international framework for the training of seafarers working on ships using alternative fuels or new technologies. The generic guidelines,... Read more
- 2025-10-02
  ICCT assesses shipping’s potential demand for vegetable oils under the IMO’s NZF
  A new study from the International Council on Clean Transportation (ICCT) finds that the International Maritime Organization’s (IMO) proposed Net Zero Framework (NZF) could create ‘substantial’ new demand for virgin vegetable oils, but the supply of these... Read more
- 2025-10-02
  MABUX: Bunker Weekly Outlook, Week 40, 2025.
  At the close of Week 40, global bunker indices under MABUX showed mixed dynamics without establishing a firm trend. The 380 HSFO index inched up by USD 1.18, rising from USD 452.71/MT to USD 453.89/MT. In contrast, the VLSFO index continued its decline,... Read more At the close of Week 40, global bunker indices under MABUX showed mixed dynamics without establishing a firm trend. The 380 HSFO index inched up by USD 1.18, rising from USD 452.71/MT to USD 453.89/MT. In contrast, the VLSFO index continued its decline, falling by USD 5.69 to USD 524.75/MT from USD 530.44/MT a week earlier. The MGO index also moved lower, losing USD 2.22 to settle at USD 781.29/MT versus USD 783.51/MT previously. At the time of writing, the global bunker market was showing signs of an upward correction.
  
  The MABUX Global Scrubber Spread (SS) – the price differential between 380 HSFO and VLSFO – extended its decline, falling by $6.87 from $77.83 to $70.86, and remaining well below the psychological breakeven level of $100.00. The weekly average also moved lower by $8.43. In Rotterdam, the SS Spread decreased by $5.00, slipping to $46.00 from $51.00 a week earlier, and dropping below the $50.00 mark for the first time since June 2025. The weekly average in the port declined more sharply by $16.00. In Singapore, the HSFO/VLSFO differential narrowed by $3.00 to $69.00 versus $72.00 last week, breaching the $70.00 mark. The port’s weekly average registered a loss of $9.33. Overall, SS Spread indices have re-entered a downward phase, sharply reducing the profitability of the HSFO + Scrubber option compared to conventional VLSFO. However, we view this decline as temporary, with the likelihood of an upward correction within the next one to two weeks. Detailed figures are available in the “Differentials” section of mabux.com.
  
  As per S&P Global Commodity Insights, natural gas is the only fossil fuel projected to increase its share of the energy mix in the U.S., China, and India by 2050, even as global oil and coal consumption declines. The report highlights that scalability and commercial hurdles remain the key barriers to moving directly from coal to renewables, positioning natural gas as a critical bridge in the global energy transition. S&P Global also projects that renewables will grow from just 4% of global energy supply today to 20% by 2050.
  
  As of September 30, European regional gas storage facilities stood at 82.59% capacity, up 1.76% from the previous week. This level is 11.26% higher than at the beginning of the year (71.33%), although the pace of injection remains relatively modest. By the close of Week 40, the European TTF gas benchmark posted a moderate decline of €0.854/MWh, settling at €31.411/MWh compared with €32.265/MWh a week earlier.
  
  The price of LNG as a bunker fuel at the port of Sines (Portugal) rose by 8.00 USD this week, reaching USD 778/MT compared to USD 770/MT last week. Despite this increase, the price differential shifted in favor of LNG: the gap widened to USD 11 in favor of LNG, from USD 9 in favor of conventional fuel the previous week. On the same day, MGO LS was quoted at USD 789/MT at Sines. Further details are available in the LNG Bunkering section of mabux.com.
  
  At the close of Week 40, the MABUX Market Differential Index (MDI) – the ratio of market bunker prices (MBP) to the MABUX digital bunker benchmark (DBP) – reflected the following price dynamics across the key hubs of Rotterdam, Singapore, Fujairah, and Houston:
  
  • 380 HSFO segment: All four ports remained undervalued, with weekly averages declining by 8 points in Rotterdam, 7 points in Singapore, 10 points in Fujairah, and 11 points in Houston. Notably, Houston’s MDI moved close to the 100% correlation level between MBP and DBP.
  
  • VLSFO segment: Houston was the only overvalued port, although its average MDI fell by another 6 points, nearing the 100% correlation threshold. The other ports remained undervalued, with average MDI undervaluation widening by 10 points in Rotterdam, 3 points in Singapore, and 4 points in Fujairah.
  
  • MGO LS segment: All ports stayed within the undervalued zone. MDI values increased by 2 points in Rotterdam, were unchanged in Singapore, rose by 5 points in Fujairah, and gained 2 points in Houston.
  
  No major shifts were observed in the balance of overvalued and undervalued ports. In both the 380 HSFO and VLSFO segments, MDIs continued to edge closer to full correlation with the digital benchmark, while undervaluation remained the prevailing trend. Looking ahead, we expect a gradual erosion of undervaluation premiums in the coming week.
  
  More detailed information on the correlation between market prices and the MABUX digital benchmark is available in the Digital Bunker Prices section on mabux.com.
  
  A new study by the UCL Energy Institute, the Global Maritime Forum, and Climate High-Level Champions has found that the shipping industry remains off track to meet its target of sourcing at least 5% of its fuel from zero-emission sources by 2030. The analysis includes green ammonia, e-methanol, and green hydrogen, but excludes LNG and biofuels.The report highlights a widening gap between demand and investment compared with advances in fuel technology and production. The analysis assesses the sector’s progress toward adopting 5–10% scalable zero-emission fuels (SZEF) by 2030. It notes that the order book for SZEF-capable vessels is expanding too slowly, with only about one-third of the capacity needed to achieve the 5% target likely to materialize by 2030. This shortfall equates to roughly 9 million tonnes of fuel oil equivalent, or around 400 large container ships able to run on zero-emission fuels. On the financial side, the study observes that despite some early gains, momentum has slowed considerably, as investment continues to flow disproportionately into conventional fossil-fuel-powered ships.
  
  The global bunker market should remain relatively stable next week, although signs of a sustained upward correction may appear by the end of the period.
  Source: MABUX
- 2025-10-02
  Oil rises on Russia sanctions fears after 3-day losing streak
  Oil prices rose on Thursday after losses in previous three sessions due to market oversupply concerns, as the potential for tighter sanctions on Russian crude lent some support. Brent crude futures gained 37 cents, or 0.57%, to $65.72 a barrel by 0401... Read more Oil prices rose on Thursday after losses in previous three sessions due to market oversupply concerns, as the potential for tighter sanctions on Russian crude lent some support.
  Brent crude futures gained 37 cents, or 0.57%, to $65.72 a barrel by 0401 GMT. U.S. West Texas Intermediate crude climbed by 34 cents, or 0.55%, to $62.12 a barrel.
  Some analysts attributed the increases to a technical rebound, after Brent and WTI both lost about 1% in the prior session, with Brent closing at its lowest since June 5 and for WTI since May 30.
  "Buying interest emerged as WTI neared its $60 support level, while heightened geopolitical risks and speculation about tighter sanctions on Russian crude also lent support," said Hiroyuki Kikukawa, chief strategist of Nissan Securities Investment, a unit of Nissan Securities.
  The Group of Seven nations’ finance ministers said on Wednesday they will take steps to increase pressure on Russia by targeting those who are continuing to increase their purchases of Russian oil and those that are facilitating circumvention.
  Also, the U.S. will provide Ukraine with intelligence for long-range missile strikes on Russian energy infrastructure, two officials told Reuters on Wednesday, confirming an earlier Wall Street Journal report.
  This will make it easier for Ukraine to hit refineries, pipelines and other infrastructure with the aim of depriving the Kremlin of revenue and oil, the WSJ said.
  
  Stockpiling demand from China, the world’s largest crude oil importer, also underpinned oil prices, limiting the downside, traders said.
  Still, a U.S. government shutdown stoked worries about the global economy, while expectations of higher output by OPEC+, the Organization of the Petroleum Exporting Countries (OPEC) and allied producers, weighed on sentiment, capping the price gains, Nissan’s Kikukawa said.
  U.S. President Donald Trump’s administration on Wednesday froze $26 billion for Democratic-leaning states, following through on a threat to use the government shutdown to target Democratic priorities.
  On the supply side, OPEC+ could agree to raise oil production by up to 500,000 barrels per day in November, triple the increase made for October, as Saudi Arabia seeks to reclaim market share, three sources familiar with the talks said.
  That would come even as U.S. and Asian demand starts to decline.
  
  The Energy Information Administration said on Wednesday that U.S. crude oil, gasoline and distillate inventories rose last week as refining activity and demand softened.
  Crude inventories rose by 1.8 million barrels to 416.5 million barrels in the week ended on September 26, compared with expectations in a Reuters poll for a 1 million-barrel rise. [EIA/S]
  Source: Reuters/Investing.com
- 2025-10-02
  Middle East Electricity Demand To Grow 50% Over The Next Decade
  The International Energy Agency (IEA) has revealed that electricity consumption in the Middle East and North Africa (MENA) has tripled since 2000, making the region one with the fastest-growing power demand on the planet. According to the IEA, the explosive... Read more The International Energy Agency (IEA) has revealed that electricity consumption in the Middle East and North Africa (MENA) has tripled since 2000, making the region one with the fastest-growing power demand on the planet. According to the IEA, the explosive growth was mainly driven by expanding populations and rising incomes, with air conditioning accounting for nearly half of peak demand. The energy agency has predicted that MENA will see another 50% increase in electricity demand by 2035 based on current policy settings, driven by urbanization, industrial expansion and rapid population growth.
  
  However, MENA’s energy mix is set to undergo a radical makeover. According to the IEA, natural gas and oil dominate the MENA’s electricity mix, accounting for over 90% of total generation. However, the next growth phase will be driven by natural gas, renewable energy, and nuclear, while oil-fired output will contribute just 5% of total generation by 2035, down from 20% currently. The region’s solar capacity is expected to expand 10-fold to 200 gigawatts by 2035. Renewables’ share in MENA’s energy mix is set to increase to 25% by 2035 from 6% currently, with nuclear power also set to grow in the UAE, Egypt and Iran.
  
  “Demand for electricity is surging across the Middle East and North Africa, driven by the rapidly rising need for air conditioning and water desalination in a heat- and water-stressed region with growing populations and economies. The region has already seen the third largest growth in electricity consumption globally since the start of the century, after China and India. To meet this demand, power capacity over the next 10 years is set to expand by over 300 gigawatts, the equivalent of three times Saudi Arabia’s current total generation capacity,” said IEA Executive Director Fatih Birol.
  
  Natural gas is expected to contribute half of MENA’s energy mix by 2035. With strong government backing and billions of dollars at their disposal, Middle Eastern oil giants are aggressively expanding into the global LNG market, aiming to nearly double their LNG capacity within the next decade. Companies like Saudi Aramco, Abu Dhabi National Oil Co. (ADNOC) and QatarEnergy are investing heavily in LNG production and trading, driven by the growing demand for natural gas as a transition fuel and a desire to diversify their portfolios beyond crude.
  
  “LNG seems to be still the best bet across all different hydrocarbon commodities,” Ogan Kose, managing director at business consulting firm Accenture, told Bloomberg, adding that margins from LNG investing and trading are “almost unheard of in any other hydrocarbon commodity.”
  
  Whereas natural gas usually plays second fiddle to oil in global energy markets, LNG is seeing sustained demand and faster growth thanks to its role as a bridge fuel in the transition to renewable energy. However, many LNG projects have been hit by delays and large cost overruns, needing extra cash to get them to completion. This opens up an opportunity for cash-rich Gulf nations to flex their energy, financial, and geopolitical muscle in the space.
  
  Unfortunately, not all MENA countries will be able to meet this surging demand. Several Middle East countries have experienced persistent power crises, with countries in conflict zones including Iraq, Syria, Yemen, Lebanon and Sudan among the most affected.
  
  Iraq still suffers from inconsistent energy supplies, more than two decades after Saddam Hussein’s regime was toppled. Three years ago, the oil-rich Iraqi city of Basra experienced mass protests after power line failures triggered rolling blackouts amid searing 50°C temperatures. According to IEA estimates, recurring power shortages cost the Iraqi economy nearly $100 billion between 2014 and 2020. Meanwhile, Lebanese citizens have endured years of intermittent power supply, forcing them to turn to polluting private generators and criminal groups who supply them with fuel from the black market. In Syria, generation capacity has plunged to below 40% of pre-conflict levels, “far below the country’s needs”. Libya has had similar experiences, with power generation capacity halving during the country’s civil strife.
  
  Thankfully, MENA countries are blessed with abundant renewable energy resources that they can tap into to alleviate their power shortages. For instance, Yemen has lately turned to solar power generation in earnest. The country’s first large-scale solar power plant, the 120-megawatt Aden Solar Power Plant, was inaugurated on July 15, 2024. Funded by the United Arab Emirates, this significant renewable energy project is located north of Aden and supplies 150,000 and 170,000 homes with electricity, cutting the country's reliance on fuel-powered grids. Yemen has been grappling with nearly three decades of electricity crises and fuel shortages after recurring wars severely damaged the national power infrastructure. Whereas solar power currently represents ~10.4% of Yemen’s total electricity generation, that figure is set to double in 2026 after the second phase of the Aden Solar Power Plant goes online. Source: Oilprice.com

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