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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
637.50
0.00
617.00
-19.00
Dec 9
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	637.50	0.00	617.00	-19.00	Dec 9

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
396.15	-2.68	479.46	-3.23	740.36	-6.45	Dec 12

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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	347	402	-55	393	449	-56	617	639	-22	Dec 12
Singapore	348	398	-50	426	486	-60	636	632	+4	Dec 12
Fujairah	312	368	-56	420	477	-57	708	695	+13	Dec 12
Houston	350	380	-30	422	430	-8	627	655	-28	Dec 12

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Latest News
- 2025-12-12
  ABS, ENEOS, NYK Line, and SEACOR Holdings launch US methanol study
  The American Bureau of Shipping (ABS), ENEOS Corporation (ENEOS), Nippon Yusen Kabushiki Kaisha (NYK Line), and SEACOR Holdings Inc. (SEACOR) have begun a joint study to develop a methanol bunkering and supply chain network along the US Gulf Coast. The... Read more
- 2025-12-12
  GT Wings wins funding to scale Jet Sail technology
  UK-based GT Wings has announced it has secured ‘major investment’ in its AirWing Jet Sail technology in a funding round led by Grieg Capital. Funding was also secured from new and existing investors, including Blackfinch Ventures and One Planet Capital,... Read more
- 2025-12-12
  Snam snaps up controlling stake in operator of FSRU Toscana
  Italian LNG terminal operator Snam has agreed to purchase Igneo Infrastructure Partners’ 48.2% interest in in OLT – Offshore LNG Toscana, which operates the Floating Storage Regasification Unit (FSRU) Toscana offshore Livorno. The purchase will result... Read more
- 2025-12-12
  Contract signed for shore power connection point at Port of Ventspils ferry terminal
  The Ventspils Freeport Authority has signed a contract for the construction of a shore power connection point at the ferry terminal of the Latvian port. This will be the first berth in the port of Ventspils where ferries will be able to use a high-capacity... Read more
- 2025-12-12
  BIMCO introduces EU ETS and FuelEU Maritime clauses for ship sales and purchases
  BIMCO’s Documentary Committee has adopted two clauses to manage compliance obligations under the EU’s Emissions Trading System (ETS) and FuelEU Maritime during the sale and purchase of vessels. The clauses define responsibilities, costs and data-sharing... Read more
- 2025-12-12
  MOL venture capital arm invests in Indian start-up fund
  The decision by MOL PLUS, the corporate venture capital arm of Japanese shipowner Mitsui OSK Lines (MOL), to invest in Theia Ventures Fund 1, managed by Theia Ventures LLP, marks MOL PLUS’ first investment in an Indian venture capital fund. Theia Ventures... Read more
- 2025-12-12
  Oil prices up on US-Venezuela tensions, but set for weekly decline
  Oil prices rose on Friday as the prospect of the U.S. intercepting more Venezuelan oil tankers deepened supply concerns, but remained on track for a weekly decline amid optimism over a possible Russia-Ukraine peace agreement. Brent crude futures rose... Read more Oil prices rose on Friday as the prospect of the U.S. intercepting more Venezuelan oil tankers deepened supply concerns, but remained on track for a weekly decline amid optimism over a possible Russia-Ukraine peace agreement.
  Brent crude futures rose 29 cents, or 0.5%, to $61.57 a barrel by 0115 GMT, and U.S. West Texas Intermediate crude was at $57.91 a barrel, up 31 cents, or 0.5%.
  Both benchmarks fell about 1.5% on Thursday.
  The U.S. is preparing to intercept more ships transporting Venezuelan oil following the seizure of a tanker this week, as it increases pressure on Venezuelan President Nicolas Maduro, six sources familiar with the matter said on Thursday.
  The U.S. seizure this week raised concerns about supply disruptions.
  "After selling on expectations that supply pressures would ease amid hopes for a Russia-Ukraine peace agreement, buying emerged to pare losses following the U.S. seizure of a Venezuelan tanker," said Hiroyuki Kikukawa, chief strategist of Nissan Securities Investment, a unit of Nissan Securities.
  "Peace negotiations between Russia and Ukraine will remain the main focus next week and beyond," he said, noting that WTI could test the $55 level if a deal is genuinely reached.
  A possible peace agreement between Russia and Ukraine would likely increase the supply of Russian oil that is currently sanctioned by Western countries.
  The leaders of Britain, France and Germany held a call on Wednesday with U.S. President Donald Trump to discuss Washington’s latest peace efforts to end the war in Ukraine, in what they said was a "critical moment" in the process.
  
  But on Thursday, Ukrainian drones struck an oil platform in the Caspian Sea for the first time, halting production at the facility owned by Lukoil, according to an official from Ukraine’s Security Service.
  Meanwhile, the International Energy Agency upgraded its 2026 global oil demand growth forecasts while trimming its supply growth predictions in its latest monthly oil market report on Thursday, implying a slightly narrower surplus next year.
  
  The IEA flagged higher demand prospects due to a stronger world economy and lower supply from nations under sanctions.
  But Organization of the Petroleum Exporting Countries (OPEC) data published on Thursday indicated that world oil supply will match demand closely in 2026, an outlook that contrasts with projections from the IEA and others of a huge glut.
  Source: Reuters/Investing.com
- 2025-12-12
  U.S. Strategy Exposes Europe’s Fragile Future
  The US National Security Strategy Is Correct About European Strategic Weaknesses The recent publication of the United States National Security Strategy provoked a strong reaction amongst many in the political establishment across Europe, both within... Read more The US National Security Strategy Is Correct About European Strategic Weaknesses
  
  The recent publication of the United States National Security Strategy provoked a strong reaction amongst many in the political establishment across Europe, both within and outside the EU. It has been widely seen by critics as proof of a clear and explicit divergence between the United States and Europe. In truth, many of the points raised about Europe’s strategic weaknesses are much more accurate than many of those currently in leadership in Europe are prepared to admit. The response of figures such as British Foreign Minister Yvette Cooper, praising Europe’s “strength”, are little more than bluster and political theatre.
  
  As I have outlined in Europe 2026, a special new report for businesses and investors, there is abundant evidence that a major transformation is coming to Europe in geopolitics, markets, and governance, on a level not seen since the Second World War.
  
  What makes the coming transformation so significant is the fact that a confluence of major shaping factors—including the decline of a raft of supranational institutions from the EU to NATO, mass migration, the looming fiscal crisis and the energy crisis—have struck just as internal political instability appears to be reaching record high levels.
  
  Furthermore, the broader historical context appears to indicate that multiple metapolitical processes have run their course. In fact, a whole epoch has ended, and another looks set to begin. For one thing, the era of globalism appears to be in serious decline as the world returns to a more national sovereignty-centric ‘order’. Moreover, it is highly likely that within the next few years a major Western European country will elect a populist nationalist government. If that happens, will other countries follow like dominoes? Certainly, at present, there seems to be a fascinating internal political dynamic at play whereby electoral energy is being sucked away from what has hitherto been considered the political mainstream, and is being diverted towards ‘populists’ of both right and left.
  
  Politicians and bureaucrats in Europe complain that the US is now explicitly pursuing a strategic policy at odds with much of Europe. And while the EU itself is clearly at variance with the new direction of the US, this set-to concerns Europe as a whole, including those states not part of the EU. What appears to be happening is an emergent bifurcation taking place within the West, between those states still committed to the globalist status quo and those aligning with nationalism. This is indicative of the wider process occurring across the entire world. As one major example, the accession of Sanae Takaichi to the premiership of Japan in October 2025 appeared to indicate a definitive return to national-conservatism in Japan after a period of uncertain strategic direction, as well as revisitation of many of the core assumptions of the post-war period.
  
  With the world becoming multipolar once more, Europe’s leaders face a continued strategic dilemma. The apparent trajectory of the Russia-Ukraine war, which will likely come to a conclusion in 2026, and the apparent re-direction of American strategic interest to other domains, such as the return to the two centuries-old Monroe Doctrine, make it clear that the status quo is no longer viable. The global momentum is clearly in favour of the nationalists and ‘populists’. And the US will likely use its influence to nudge Europe in a new direction, or as the US National Security Strategy puts it, “to help Europe correct its strategic trajectory.”
  
  For its part, it is increasingly doubtful whether the EU can even survive many more years, let alone become the global powerhouse that its most fervent supporters are hoping for. One of the major weak points is the fact that powerful forces are pulling in precisely opposite directions. On the one hand, many in the political establishment are pushing ahead for a closer-knit EU, acting politically, economically and militarily as a sovereign entity in its own right. On the other hand, popular pressure is increasingly pushing in the other direction, as levels of distrust in political institutions reach new highs and increasing numbers of voters are attracted to populist and nationalist alternatives. The resulting tension between these opposing forces is likely to cause serious political disturbance and threaten a major rupture altogether.
  
  All this appears set to make Europe a highly volatile environment in the short- to medium-term. For investors and analysts looking for clear and solid answers amid such uncertainty, it is important not to miss the wood for the trees. As the US National Security Strategy correctly identifies, the core issues at stake are indeed civilisational. Thus, a more long-term, historically-aware analytical approach is essential.
  
  It is quite tempting in such times to overplay the importance of day-to-day politics. In reality, much of the change occurring in the world is the result of forces far beyond the control of any individuals or governments. However, at a political and institutional level, it is important to stress that those committed to the status quo are caught in a very difficult dilemma. On the one hand, they can attempt major reforms, but to do so requires an admission that the entire project and the underlying assumptions to which they have been committed for many years were wrong. On the other hand they can double down on the existing course and run the risk of provoking even more opposition, something which will render their position even more fragile. So far, many seem committed to doubling down. But, like King Canute’s apocryphal attempts to hold back the tide, this may well only delay the inevitable. 2026 is shaping up to be a highly significant year. Source: Oilprice.com
- 2025-12-12
  Seizing Venezuelan Oil May Cost Washington More Than Caracas
  On Wednesday, the United States carried out one of its most consequential maritime interventions to date. The Federal Bureau of Investigation, Homeland Security Investigations, and the United States Coast Guard, acting with support from the Department... Read more On Wednesday, the United States carried out one of its most consequential maritime interventions to date. The Federal Bureau of Investigation, Homeland Security Investigations, and the United States Coast Guard, acting with support from the Department of War, seized a crude oil tanker accused of transporting sanctioned oil from Venezuela and Iran. It was a dramatic show of force in already volatile waters and an intervention that has jolted Caracas.
  
  The operation was presented as a decisive strike against illicit oil flows. Yet within hours, Venezuela had denounced it as “state piracy”, and the reaction inside the US was just as stark. Several lawmakers warned openly that the move risked igniting a wider conflict. Senator Rand Paul, Republican of Kentucky, said, “It sounds a lot like the beginning of a war.” At the same time, Senator Chris Coons, Democrat of Delaware, told NewsNation he was “gravely concerned that [Trump] is sleepwalking us into a war with Venezuela.” When voices from opposite ends of the political spectrum converge on the same fear, it’s a sign that something far more serious is unfolding than a routine sanctions-enforcement action.
  
  In reality, the seizure is not a show of strength but another indication that the Trump administration, led by the State Department, remains stuck in a mindset that harms both national and Western energy security. The decision to seize the tanker has been welcomed by the same neoconservative voices who have spent years turning Venezuela policy into a stage for political posturing. They insist that punitive measures will tighten the screws on Caracas.
  
  Related: Ukraine Strikes Key Russian Oil Platform in Caspian Sea
  
  What they ignore is the long record of such actions failing to bring about any strategic gain. Instead, they have pushed Venezuela deeper into the arms of China and Russia, damaged supply chains, and driven up global volatility. China now takes between 55% and 90% of Venezuela’s oil exports, with shipments to the nation reaching about 746,000 barrels per day in November 2025, the highest level since mid-2023. At the same time, Iranian condensate and, more recently, Russian naphtha have stepped in as key diluents, keeping Venezuela’s heavy crude moving to Asian buyers.
  
  The latest seizure follows this same pattern: it squeezes Western access, while entrenched buyers in Beijing and other “antagonistic” countries adjust and carry on. The effect on the United States is immediate and predictable. It’s hard to see how boarding a tanker at sea protects American interests when global supplies are already tight, and prices are increasingly unstable.
  
  Around 90% of Venezuelan oil imported to the US goes to the Gulf Coast, and the market for substitutes is thin. When those barrels are disrupted, refiners are forced to turn to more distant and often more expensive sources elsewhere, with longer voyage times and higher transport costs. This eventually shows up in the prices paid by American households.
  
  In the past year, analysts at firms such as Kpler and RBN Energy have warned that any significant fall in Venezuelan supply to the US, on the order of 200,000 barrels per day, would leave Gulf Coast refiners facing a “severe shortage of heavy crude”, with limited alternatives given production problems in Mexico and constraints on Canadian flows.
  
  In practical terms, tensions near Venezuela could jeopardize vital crude imports from Chevron’s joint ventures and trigger another spike in fuel prices. The seizure, therefore, does not strengthen American security. It resembles an act of international piracy that weakens Western supply lines and hands an easy propaganda victory to adversaries who argue that the US uses maritime law to bully weaker nations and manipulate global markets.
  
  That argument also carries further weight for a simple reason: Washington has no legal basis for this kind of operation. US sanctions are unilateral measures that have no standing on the high seas and can only be enforced within US jurisdiction or against US persons.
  
  By asserting legal authority it does not possess, the US risks setting a dangerous precedent that adversaries like China and Russia will exploit in critical global energy chokepoints, undermining long-term stability.
  
  Recognizing that American energy security depends on stable cooperation, not illegal confiscation, can inspire policymakers and analysts to support engagement over conflict.
  
  The tanker seizure may please a narrow circle in Washington, but it moves the US further away from strategic stability. If America wants to protect its interests in the Western Hemisphere, it must stop acting like a privateer and start rebuilding the commercial and diplomatic ties that once made it a trusted partner. Source: Oilprice.com
- 2025-12-12
  MABUX: Global bunker market to return to downward movement on Dec. 12.
  The MABUX World Bunker Index — a composite indicator reflecting daily prices for 380 HSFO, VLSFO, and MGO — despite an earlier upward forecast, continued its downward movement on Dec. 11, marking the third consecutive day of decline: 380 HSFO: USD/MT... Read more The MABUX World Bunker Index — a composite indicator reflecting daily prices for 380 HSFO, VLSFO, and MGO — despite an earlier upward forecast, continued its downward movement on Dec. 11, marking the third consecutive day of decline:
  
  380 HSFO: USD/MT 398.83 (-1.63)
  VLSFO: USD/MT 482.69 (-1.98)
  MGO: USD/MT 746.81 (-2.05)
  
  As of Dec. 11, the MABUX Market Differential Index (MDI) — monitoring the correlation between Market Bunker Prices (MBP) and the MABUX Digital Bunker Price Benchmark (DBP) – registered underpricing across all fuel grades in the major global hubs: Rotterdam, Singapore, Fujairah, and Houston:
  
  • HSFO segment: Underpricing widened by $2 in Rotterdam, $3 in Singapore, $1 in Fujairah and $2 in Houston.
  
  • VLSFO segment: The underpricing margin increased by $1 in Rotterdam, $3 in Singapore, $2 in Fujairah, and $7 in Houston. Houston’s MDI remained near the full (100%) correlation mark between MBP and DBP.
  
  • MGO LS segment: The underpricing discount rose by $13 in Rotterdam, $8 in Singapore, $2 in Fujairah, and $8 in Houston. In Fujairah, the MDI hovered near a 100-percent correlation between MBP and DBP.
  
  We expect the Global bunker market to return to a downward trend on Dec. 12: 380 HSFO – minus 1-4 USD/MT, VLSFO – minus 1-5 USD/MT, MGO LS – minus 3-8 USD/MT.
  Source: MABUX

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