Mabux: Global Bunker Prices

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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
967.50
+10.00
673.00
+8.00
Feb 10
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	967.50	+10.00	673.00	+8.00	Feb 10

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
531.21	+3.63	615.17	+2.28	782.45	+3.58	Feb 10

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MBP INDEX vs DBP INDEX (ICE/NYMEX)

All Indexes in $/mton	380HSFO			VLS FO			MGO LS			Date
All Indexes in $/mton	MBP Index	DBP Index	Diff	MBP Index	DBP Index	Diff	MBP Index	DBP Index	Diff	Date
Rotterdam	457	462	-5	550	526	+24	673	674	-1	Feb 10
Singapore	509	474	+35	574	565	+9	693	707	-14	Feb 10
Fujairah	486	513	-27	565	573	-8	766	860	-94	Feb 10
Houston	460	479	-19	563	602	-39	727	748	-21	Feb 10

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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
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MABUX for Industry
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Latest News
- 2025-02-10
  AMERICAS: ASCENZ MARORKA STRENGTHENS BRAZILIAN PRESENCE WITH MACNOR MARINE PARTNERSHIP
  Ascenz Marorka has announced a strategic partnership with maritime services provider Macnor Marine in Brazil. In a statement issued today (10 February), GTT subsidiary Ascenz Marorka said the collaboration combines its digital maritime solutions with... Read more
- 2025-02-10
  GLOBAL: YARA AND MYK SEAL WORLD’S FIRST TIME-CHARTER AGREEMENT FOR AMMONIA-FUELLED MEDIUM GAS CARRIER
  Yara Clean Ammonia has signed what it says marks the world’s first time-charter contract with Nippon Yusen Kabushiki Kaisha (NYK) for an ammonia-fuelled medium gas carrier (AFMGC). The 40,000 cubic metre (cbm) capacity vessel will be delivered in November... Read more
- 2025-02-10
  EUROPE: ALTERNATIVE FUEL BUNKERING AND SHORE POWER PROJECTS AWARDED EU FUNDING
  Two projects for ammonia and methanol bunkering infrastructure in the Spanish ports of Huelva and Algeciras, as well as electrification and onshore power projects in nine European ports, are among the 39 projects to receive funding under the first round... Read more
- 2025-02-10
  GLOBAL: NEW MMMCZCS REPORT HIGHLIGHTS CHEMICAL PORTS’ KEY ROLE IN GREEN FUEL TRANSITION
  A new report published today (7 February) by the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping highlights that chemical ports are better positioned to lead the transition to alternative fuels than container ports. With the International Maritime... Read more
- 2025-02-10
  AFRICA: AMSOL RESTARTS OFFSHORE BUNKERING OPS IN ALGOA BAY
  AMSOL’s announcement that its Uhambo tanker has begun bunker supply marks a return to business in Algoa Bay in South Africa where offshore bunkering operations have been on hold since September 2023. At the end of November, the South African Revenue... Read more
- 2025-02-10
  GLOBAL: DP WORLD REPORTS RECORD CONTAINER THROUGHPUT IN 2024
  DP World’s ports and terminals handled a record 88.3 million twenty-foot equivalent units (TEUs) in 2024, which was an 8.3% increase on the previous year. In a statement issued yesterday (6 February), the company said that it achieved record numbers... Read more
- 2025-02-10
  Oil climbs as investors weigh new US tariffs
  Oil prices ticked higher on Monday even as investors weighed U.S. President Donald Trump's latest tariff threat, this time on all steel and aluminium imports, which could dampen global economic growth and energy demand. Brent crude futures climbed 51... Read more Oil prices ticked higher on Monday even as investors weighed U.S. President Donald Trump's latest tariff threat, this time on all steel and aluminium imports, which could dampen global economic growth and energy demand.
  Brent crude futures climbed 51 cents, or 0.7%, to $75.17 a barrel by 0444 GMT while U.S. West Texas Intermediate crude was at $71.45 a barrel, up 45 cents, or 0.6%. The market posted its third consecutive weekly decline last week on concerns about a global trade war.
  Trump said he will announce on Monday 25% tariffs on all steel and aluminium imports into the U.S., in another major escalation of his trade policy overhaul.
  Just a week ago, the president announced tariffs on Canada, Mexico and China, but suspended those for the neighbouring countries the next day.
  In light of Trump's temporary backdown last week, investors appeared to be shrugging off the steel and aluminium tariff threat for now, Tony Sycamore, a Sydney-based analyst at IG said.
  "The market has realised tariff headlines are likely to continue in the weeks and months ahead," he said, adding that there was an equal chance they could be walked back or even increased at some point in the near future.
  "So perhaps investors are coming to the conclusion it's not the best course of action to react to every headline negatively."
  China's retaliatory tariffs on some U.S. exports are due to take effect on Monday, with no sign as yet of progress between Beijing and Washington.
  
  Oil and gas traders are seeking waivers from Beijing for U.S. crude and liquefied natural gas imports.
  Trump said on Sunday that the U.S. is making progress with Russia to end the Ukraine war, but declined to provide details about any communications he had with Russian President Vladimir Putin.
  Sanctions imposed on Russian oil trade on January 10 disrupted Moscow's supplies to its top clients China and India.
  Washington also stepped up pressure on Iran last week, with the U.S. Treasury imposing new sanctions on a few individuals and tankers that help to ship millions of barrels of Iranian crude oil per year to China.
  Sanctions on Iran and failure to reach a nuclear deal are upside risks to oil prices even though Trump's policies are aimed at driving energy prices lower, Citi analysts said in a note.
  "We see oil likely trading sideways to down over the next month or so, with the fundamental downward pressure building on crude in our base case throughout the year," they said.
  Brent is forecast to average $60 to $65 a barrel in the second half of 2025 as Trump will be persistent in his desire to lower energy prices, and he will ultimately prove to be a bearish influence on the oil market, Citi said.
  Source: Reuters/Investing.com
- 2025-02-10
  Over 60% of IRA Investments Now At Trump’s Mercy
  It’s more than a week since President Donald Trump froze federal grants, and the clean energy sector is beginning to feel the heat. Billions of dollars in fully obligated grants, including those under the Inflation Reduction Act (IRA), remain frozen despite... Read more It’s more than a week since President Donald Trump froze federal grants, and the clean energy sector is beginning to feel the heat. Billions of dollars in fully obligated grants, including those under the Inflation Reduction Act (IRA), remain frozen despite two court orders requiring the Trump administration to release the money.
  
  “Look, we’re frustrated, right?” Mike Foley, the administrator of Cuyahoga Green Energy, a public microgrid and renewable energy utility in Cuyahoga County, Ohio, told Politico. “These were hard grants to get. We want to move forward with them and do the work.” Foley’s company and its partners are working on three IRA grants worth hundreds of millions of dollars.
  
  He is not alone. Hundreds of projects like that one are waiting for a green light from Trump’s new EPA team. On Tuesday, EPA’s acting financial chief, Gregg Treml, sent a memo advising that IRA and infrastructure funds would be released following a court order on Monday. However, a list of programs released later by the agency showed that all but one IRA grant program remained frozen.
  
  The Biden administration signed the historic Inflation Reduction Act (IRA) in 2022, allowing hundreds of renewable energy companies to benefit from $369 billion in tax breaks and subsidies for clean energy. In the previous year, the Biden administration passed the Infrastructure Investment and Jobs Act (IIJA), with the act authorizing $1.2 trillion in spending for transportation and infrastructure; $43 billion (not including loans and tax incentives) in flexible spending to be used for battery manufacturing, retooling auto industry facilities, retraining and rehiring existing auto workers and grid updates while more than $7.5 billion would go to support the buildout of EV infrastructure.
  
  Politico estimates that companies have announced plans to build or expand an estimated 555 manufacturing facilities thanks to generous IRA benefits. But here’s the kicker: less than half of the 230 facilities that were slated to commence by the end of 2024 beat the deadline, meaning that over 60% of IRA investments are now at the mercy of the Trump administration.
  
  Trump has never hidden his disdain for clean energy (especially ‘windmills’). He has repeatedly lambasted the IRA, describing it as the “biggest tax hike in history”. Trump pledged to rescind any “unspent” funds under the IRA should he ascend to the Oval Office, again.
  
  “To further defeat inflation, my plan will terminate the Green New Deal, which I call the Green New Scam,” the former president said before the Economic Club of New York in September.
  
  The IRA has so far survived Republican-led attempts to repeal major parts, but could be under serious threat under a second Trump administration, the fact that Red States have actually benefited more from its bounty than blue states notwithstanding. Trump may lack the power to unilaterally roll back the climate law, but all bets are off with the GOP having a majority both in the House and Senate. Even without approval by Congress, Trump can certainly make its "implementation more difficult", as Shannon Rinehart, portfolio manager at Threadneedle, has pointed out. His administration could hobble the climate law through executive action by revising treasury department rules yet to be finalized, holding back some of its loans and grants and/or tightening limits on tax credits.
  
  Investments dedicated to the booming electric vehicle sector could also face pushback under Trump. The auto industry has already announced more than $100 billion in EV investments, creating more than 100,000 American jobs. Last year at a Detroit rally, Trump attacked the sector, claiming that EVs are “too expensive” and “don’t go far enough”. At first, Trump appeared to have softened his anti-EV stance after cozying up to Tesla Inc. (NASDAQ:TSLA) CEO, Elon Musk. However, one of Trump's many "Unleashing American Energy" directives recently released pledges ‘‘…to eliminate the “electric vehicle (EV) mandate” and promote true consumer choice, which is essential for economic growth and innovation, by removing regulatory barriers to motor vehicle access; by ensuring a level regulatory playing field for consumer choice in vehicles; by terminating, where appropriate, state emissions waivers that function to limit sales of gasoline-powered automobiles; and by considering the elimination of unfair subsidies and other ill-conceived government-imposed market distortions that favor EVs over other technologies and effectively mandate their purchase by individuals, private businesses, and government entities alike by rendering other types of vehicles unaffordable.’’
  
  Meanwhile, last year, energy analytics firm Wood Mackenzie predicted that a second Trump presidency could place a huge part of renewable energy investments at risk, increase carbon emissions by 1 billion tonnes more by 2050 and delay peak fossil fuel demand by 10 years beyond current forecasts. WoodMac projected~$7.7T in overall spending by the U.S. energy sector through 2050 under policies enacted under Biden, a figure that could be cut by $1T under Trump through reduced policy support for low carbon energy and infrastructure improvements.
  
  Source: Oilprice.com
- 2025-02-10
  Pushback Begins Against Trump’s Oil Agenda
  President Trump declared a national energy emergency as soon as he took office. The declaration had the goal of facilitating growth in energy supply or, as Trump likes to call it “Drill, baby, drill.” Yet this time, Baby doesn’t feel much like drilling.... Read more President Trump declared a national energy emergency as soon as he took office. The declaration had the goal of facilitating growth in energy supply or, as Trump likes to call it “Drill, baby, drill.” Yet this time, Baby doesn’t feel much like drilling. And it’s saying this loud and clear.
  
  The oil and gas industry celebrated Trump’s victory in the November elections. After four years with a not-so-friendly federal government, a pro-oil White House was certainly a welcome change. But then Trump said he wanted more oil and gas to flow along the pipelines. And producers said the same that OPEC tends to say when called upon to boost production: only if the price is right!
  
  The price, right now, is not right.
  
  This tends to get ignored by a lot of industry observers who trade oil. The thinking goes that if Trump is in the White House, then the oil and gas industry players have the biggest ally in the country, which means they can do whatever they want and pump as much crude as they want. This is actually correct.
  
  Yet these players see no benefit in pumping more crude at the moment.
  
  West Texas Intermediate has been trading around $70 this week after posting two weeks of declines following a strong start to the year with Trump’s inauguration and expectations of “maximum pressure” on Iran. Shortly after, the “Drill baby, drill” assumption began to unravel. Drillers signaled they had no intention of stepping up work to boost production. In fact, the latest data about 2024 recently showed that growth in U.S. oil production had slowed down significantly to 300,000 bpd last year.
  
  In the year prior, the growth rate was three times that.
  
  It’s all about the price, of course. It’s always about the price. This goes for OPEC and U.S. shale drillers alike. “What you are seeing is a huge amount of positivity,” the president of Liberty Energy told the New York Times in late January, commenting on Trump’s entry into office. “But it’s too early to say that that’s going to translate into a change in actual activity levels here in North America,” Ron Gusek told the NYT.
  
  Related: Canadians Overwhelmingly Support Retaliatory Oil Tariffs In Trump Trade War
  
  The NYT story said that oil and gas executives were in zero rush to drill just because the President had asked them to. A recent story in the Wall Street Journal said the same thing, citing unnamed industry sources. Essentially, everyone is quoting the energy industry as saying it will not drill more. Axios also recently cited estimates by the Energy Information Administration that expected production across most regions to decline over the next two years, with only the Permian seeing significant growth and coming to account for over half of the U.S. total.
  
  This puts Trump in a bind because he aims for more than one thing with his calls for lower oil prices. First, of course, there is retail fuel prices, overall inflation, and eventually, interest rates. Trump understandably wants all of these to fall. Yet his other stated goal is to boost global crude oil supply and tank prices as a way of pressuring Russia to sit at the negotiations table about Ukraine.
  
  Over the past decade, Russia has demonstrated that it is perfectly capable of surviving whatever oil prices international trade dynamics throw its way, but Trump has insisted that lower oil prices will force it to negotiate peace with Zelensky. His special envoy to Russia and Ukraine has an exact price in mind: $45 per barrel. Unfortunately, that price—while certain to cause Russia economic pain—will also cause pain to U.S. shale drillers—and a greater one.
  
  As the Wall Street Journal recalls, the last time prices sank to $45 per barrel, a short oil war ensued between Russia and Saudi Arabia, from which both survived, But this was not the case for many U.S. shale producers. Shale, while making huge strides towards drilling efficiency and cost cuts over the last couple of decades, remains highly sensitive to global prices because its production costs are still generally higher than those for conventional production—and now natural depletion is kicking in as well.
  
  This is one more reason U.S. oil and gas producers are in no rush to do the President’s bidding. There may still be hundreds of millions of untapped crude in the shale patch, but drillers are going to tap it in a measured way rather than the initial burst of activity that saw so many go under when debt burdens became unsustainable. This led to that strict financial discipline everyone’s been praising for years now, and that has become the new normal in shale.
  
  With that discipline, and with the Saudis firmly on their own price control path, cheap oil may turn out to be one promise Trump can’t keep—because it’s not entirely up to him. Source: Oilprice.com
- 2025-02-10
  MABUX: Global bunker indices to resume upward movement on Feb.10.
  MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), showed mixed movements on Feb.07: 380 HSFO - USD/MT - 526.99 (+0.16) VLSFO - USD/MT – 613.21 (-1.15) MGO - USD/MT – 778.56 (-0.26) As of Feb.07,... Read more MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), showed mixed movements on Feb.07:
  
  380 HSFO - USD/MT - 526.99 (+0.16)
  VLSFO - USD/MT – 613.21 (-1.15)
  MGO - USD/MT – 778.56 (-0.26)
  
  As of Feb.07, the MABUX Market Differential Index (MDI), monitoring the correlation between market bunker prices (MBP) and the MABUX Digital Bunker Price Benchmark (DBP), revealed the following trends across key ports: Rotterdam, Singapore, Fujairah, and Houston:
  
  • HSFO segment: Singapore remained the only overcharged port, with the overprice rising further by $3. The other three ports were undercharged, with the margin narrowing by $2 in Rotterdam, Fujairah, and Houston. The MDI in Rotterdam neared a 100% correlation mark between MBP and DBP.
  
  • VLSFO segment: Rotterdam and Singapore were in the overcharge zone, with the gap increasing by $1 in Rotterdam and staying unchanged in Singapore. Fujairah and Houston were undercharged, with Fujairah’s discount dropping by $2 and Houston's by $4. The MDI in Singapore and Fujairah approached full correlation between MBP and DBP.
  
  • MGO LS segment: All four selected ports continued to be undercharged. The underprice margin remained unchanged in Rotterdam, decreased by $3 in Singapore, and by $1 in Houston, but rose by $2 in Fujairah. The MDI in Rotterdam stayed close to full correlation between MBP and DBP, while Fujairah remained below the $100 mark.
  
  We expect Global bunker indices to resume upward movement on Feb.10: 380 HSFO – plus 1-2 USD/MT, VLSFO – plus 1-3 USD/MT, MGO LS – plus 2-5 USD/MT.
  Source: MABUX