Mabux: Global Bunker Prices

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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
805.01
0.00
672.00
+7.00
Nov 18
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	805.01	0.00	672.00	+7.00	Nov 18

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
518.80	+0.56	597.00	+1.02	761.64	+1.24	Nov 20

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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	463	-6	511	556	-45	672	774	-102	Nov 20
Singapore	463	483	-20	565	560	+5	673	783	-110	Nov 20
Fujairah	449	493	-44	559	553	+6	750	831	-81	Nov 20
Houston	447	456	-9	547	576	-29	665	686	-21	Nov 20

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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
- 2024-11-20
  Oil steady as Ukraine escalation offsets US crude, gasoline stock build
  Oil prices were steady on Wednesday as the escalating war between major oil producer Russia and Ukraine offset a rise in U.S. crude and gasoline stocks. Brent crude futures for January were down 4 cents, or 0.05%, at $73.27 a barrel by 10:43 a.m. EDT... Read more Oil prices were steady on Wednesday as the escalating war between major oil producer Russia and Ukraine offset a rise in U.S. crude and gasoline stocks.
  Brent crude futures for January were down 4 cents, or 0.05%, at $73.27 a barrel by 10:43 a.m. EDT (1543 GMT).
  U.S. West Texas Intermediate crude futures for December, due to expire on Wednesday, were up 26 cents, or 0.37%, at $69.65, while the more active WTI contract for January was up 2 cents, or 0.03%, at $69.26.
  U.S. crude stocks and gasoline inventories rose and distillate stockpiles fell in the week ending Nov. 15, the Energy Information Administration said on Wednesday.
  Crude inventories rose by 545,000 barrels to 430.3 million barrels last week, the EIA said, compared with analysts' expectations in a Reuters poll for a 138,000-barrel rise.
  U.S. gasoline stocks rose by 2.1 million barrels to 208.9 million barrels, compared with analysts' expectations in a Reuters poll for a 900,000-barrel build.
  The escalating war between major oil producer Russia and Ukraine and subsequent concern around potential oil supply disruptions have kept a floor under prices this week.
  This has put geopolitical risk back in the market, StoneX energy analyst Alex Hodes said in a note on Wednesday.
  "However, the concerns over additional sanctions or disruptions of Russian fuel or crude oil supplies appear misguided," Hodes added, pointing to strong Russian fuel exports.
  Long positions in WTI have declined significantly despite the added geopolitical risk, according to Aegis Hedging associate Christian Drolshagen, with hedge funds holding only 50% of summer levels, per CFTC data.
  
  "We may expect (Brent) oil prices to stay supported above the $70 level for now, as market participants continue to monitor the geopolitical developments," said Yeap Jun Rong, market strategist at IG.
  On Tuesday, Ukraine used U.S.-supplied ATACMS missiles to strike Russian territory for the first time, Moscow said, while Russian President Vladimir Putin lowered the bar for a possible nuclear attack.
  "The price action in the oil market has been relatively uneventful post-U.S. election, with some pick-up in the past couple of days due to a temporary production outage in the North Sea and a further escalation in the nature of the confrontation in Ukraine," said Harry Tchilinguirian, head of research at Onyx Capital Group.
  Norway's Equinor on Wednesday said it had restored full output capacity at the Johan Sverdrup oilfield in the North Sea following a power outage. Equinor last month said the field was producing at peak capacity of around 755,000 barrels of oil equivalent per day.
  Weighing on prices on Wednesday, Hezbollah chief Naim Qassem said in a televised speech that his group had reviewed and given feedback on a U.S.-drafted ceasefire proposal to end fighting with Israel, and that a halt to hostilities was now in Israel's hands.
  Meanwhile, the U.S. Federal Reserve will trim interest rates next month but make shallower cuts in 2025 than expected just a month ago due to the risk of higher inflation from President-elect Donald Trump's proposed policies, according to most economists in a Reuters poll. Source: Reuters/Investing.com
- 2024-11-20
  ASIA PACIFIC: WINNERS NAMED IN SINGAPORE MARITIME TECH STARTUP COMPETITION
  Companies focused on AI-, solar-, and wind-powered marine technology solutions scooped the top places in Singapore’s Smart Port Challenge final, which took place this week as part of the annual PIER71 accelerator event. Since its inception in 2018,... Read more
- 2024-11-20
  GLOBAL: NEW ISO STANDARD FOR METHANOL AS A MARINE FUEL PUBLISHED
  Monique Vermeire, the convenor of ISO/TC28/SC4/WG18, has announced the publication of the International Organization for Standardization’s first edition of ISO 6583:2024, the new standard for methanol as a marine fuel. While methanol is currently being... Read more
- 2024-11-20
  GLOBAL: ARKAS BUNKER WRAPS UP FIRST BIOFUEL SUPPLY TO NON-ARKAS LINE VESSEL
  Türkiye’s Arkas Bunker has announced it has supplied ‘Bio24F’ biofuel to the Yang Ming-operated YM Inventive. The bunkering marks Arkas Bunker’s first biofuel supply to a shipowner other than Arkas Line, the company said in a statement sent to Bunkerspot... Read more
- 2024-11-20
  EUROPE: NEW EMSA REPORT CONSIDERS POTENTIAL OF SHIPPING’S SYNTHETIC FUELS
  A European Maritime Safety Agency (EMSA) report calculates the Total Cost of Ownership for e-methanol-, e-diesel- and e-methane-powered newbuilds and finds that in 2030, a low-cost estimate could be 45-85% higher than ships running on conventional fuel... Read more
- 2024-11-20
  AMERICAS: PANAMA MONTHLY BUNKER VOLUMES HIT POST-PANDEMIC HIGH
  Some 524,549 metric tonnes (mt) of marine fuel were sold in Panama last month, the highest monthly total since August 2019. For the first time since March 2023, sales of very low sulphur fuel oil (316,410 mt) surpassed the 300,000 mt mark, according... Read more
- 2024-11-20
  Oil prices flat amid Russia-Ukraine tensions, US inventory build
  Oil prices steadied in Asian trade on Wednesday as traders watched for any worsening in the Russia-Ukraine conflict, although signs of a bumper build in U.S. stockpiles weighed on prices. Oil prices marked some gains this week on the prospect of supply... Read more Oil prices steadied in Asian trade on Wednesday as traders watched for any worsening in the Russia-Ukraine conflict, although signs of a bumper build in U.S. stockpiles weighed on prices.
  Oil prices marked some gains this week on the prospect of supply disruptions from an escalation in the Russia-Ukraine war, especially after Moscow raised the prospect of nuclear retaliation for Ukrainian strikes.
  While an outage at Norway’s Sverdrup field had also provided some support, production resumed on Tuesday.
  Brent oil futures expiring in January steadied at $73.31 a barrel, while West Texas Intermediate crude futures steadied at $69.22 a barrel by 20:34 ET (01:34 GMT).
  Russia-Ukraine tensions in focus
  Oil markets were watching for supply disruptions caused by any potential escalation in the Russia-Ukraine conflict, after the U.S. reportedly authorized the use of long-range missiles by Kyiv.
  Moscow responded to the move by lowering the threshold for a nuclear response, putting markets on edge over a worsening in the conflict.
  Ukraine has also consistently targeted Russia’s oil infrastructure, although this has so far caused few disruptions in supply.
  Still, fears of a worsening conflict were soothed by Russian Foreign Minister stating that the country will do all it can to avoid nuclear war.
  US oil inventories see bumper build- API
  Oil markets were also rattled by industry data showing U.S. oil inventories grew much more than expected in the week to November 15.
  Data from the American Petroleum Institute showed oil inventories grew by 4.75 million barrels last week, much more than expectations for a 0.8 mb build.
  
  The reading usually heralds a similar trend from official inventory data, which is due later on Wednesday.
  U.S. oil inventories have risen more than expected for the past two weeks, keeping traders on edge over increased supply in the world’s biggest oil producer.
  This trend has tied into fears of an oil supply glut going into 2025, especially as demand among major oil importers weakens.
  Source: Reuters/Investing.com
- 2024-11-20
  Nigeria's Richest Man Confronts ‘Oil Mafia’ With New $20B Refinery
  Two months ago, Nigeria’s beleaguered energy sector witnessed a very significant event: the Dangote Oil Refinery began producing gasoline and selling it domestically to Nigeria's state oil firm, Nigerian National Petroleum Company (NNPC), marking the... Read more Two months ago, Nigeria’s beleaguered energy sector witnessed a very significant event: the Dangote Oil Refinery began producing gasoline and selling it domestically to Nigeria's state oil firm, Nigerian National Petroleum Company (NNPC), marking the first time in decades Africa’s largest oil producer is refining its own crude. The state-of-the-art $20 billion refinery was launched in January 2024, but only began producing gasoline in September, expected to reach full operations in November. The giant refinery has a capacity to process 650,000 barrels of crude per day, more than enough for the country’s needs. To sweeten the deal further, the facility is buying crude and selling refined fuels in Nigeria in the local currency, saving the country’s much-needed foreign exchange, especially the US dollar.
  
  Unfortunately for Aliko Dangote, Africa’s second richest man and owner of the refinery, his bold move has put him on a collision course with what he refers to as Nigeria's ‘oil mafia’.
  
  "I knew there would be a fight. But I didn’t know that the mafia in oil, they are stronger than the mafia in drugs," Mr Dangote told an investment conference in June.
  
  "They don’t want the trade to stop. It’s a cartel. Dangote comes along and he’s going to disrupt them entirely. Their business is at risk,” says Mr Emmanuel, a Nigerian oil expert.
  
  According to the BBC, since oil was discovered in the West African nation in 1956, the country’s downstream sector has largely been a cesspit of shady deals with little accountability by the NNPC. For decades, Nigeria has been producing and exporting its crude which is then refined abroad. NNPC swaps Nigeria’s crude oil for refined products, including petrol, which are shipped back home. Incredibly, it only started publishing its accounts five years ago, despite the fact that oil revenue accounts for nearly 90% of Nigeria’s export earnings. In other words, until recently, only the NNPC knew exactly how much money changed hands and who was involved in these "oil swaps".
  
  Dangote’s new refinery should definitely be a boon for the country. Unfortunately, its arrival has coincided with developments completely out of his control. Since the 1970s, the NNPC has been subsidizing fuel prices for local buyers. Every year, the state-owned firm has been gradually clawing this money back by depositing lower royalty payments with the Nigerian treasury. However, Nigeria’s new President Bola Tinubu was forced to scrap the subsidy in 2023 after it cost the government $10bn, more than 40% of the total money it collected in taxes. Further, he stopped the policy of artificially propping up the value of the naira, and let market forces determine its value. Nigerians are now paying ~$2.30 per gallon of gasoline, dirt-cheap by U.S. standards but triple what they were paying just a couple of years ago.
  
  Only time will tell whether the Dangote Refinery is able to achieve its full potential. Nigeria is the home of the famous Bonny Light crude, a light-sweet crude oil grade produced at the Bonny oil hub and an important benchmark crude for all West African crude production. Bonny Light has particularly good gasoline yields, which has made it a popular crude for U.S. refiners, particularly on the U.S. East Coast. Two years ago, Nigerian National Petroleum Company Limited (NNPCGROUP) CEO Melee Kyari revealed that Nigeria is losing nearly all the oil output at oil hub Bonny,
  
  “As you may be aware, because of the very unfortunate acts of vandals along our major pipelines from Atlas Cove all the way to Ibadan, and all others connecting all the 37 depots that we have across the country, none of them can take delivery of products today. The reason is very simple. For some of the lines, for instance, from Warri to Benin, we haven’t operated for 15 years. Every molecule of product that we put gets lost. Do you remember the sad fire incident close to Sapele that killed so many people? We had to shut it down, and as we speak, we have a high level of losses on our product pipeline,” he said.
  
  Oil theft remains a major problem for the Nigerian energy sector, and could hinder the refinery from buying all of its crude locally.
  
  “NNPC doesn’t have enough crude for Dangote. Despite all this instruction to give ample supply of crude to the refinery, NNPC can’t supply Dangote with more than 300,000 barrels per day," says Mr Akinosho of the Africa Oil+Gas Report told BBC.
  
  Meanwhile, the oil and gas multinational divestment from the Niger Delta that kicked off over a decade has hit a peak. Numerous oil and gas majors have exited the Nigerian market over the past few years despite Africa’s largest economy opening its doors for wider exploration courtesy of the Petroleum Industry Act (PIA) 2021. Nigeria’s oil production has declined to 1.3 million barrels per day currently from around 2.1 million barrels per day in 2018. Source: Oilprice.com
- 2024-11-20
  Why Big Oil Is Scaling Back Renewables Investment
  Europe’s biggest oil and gas companies have changed their approach to energy supply twice over the past five years. First came the ambitions to become major players in the renewables sector and goals to reduce oil and gas production by the end of the... Read more Europe’s biggest oil and gas companies have changed their approach to energy supply twice over the past five years.
  
  First came the ambitions to become major players in the renewables sector and goals to reduce oil and gas production by the end of the decade. That was in 2019 and early 2020 when Big Oil firms were racing to announce major shifts in strategy toward conventional and green energy.
  
  This strategy held for about two years until the energy market shocks from the Russian invasion of Ukraine and the financial shocks of soaring inflation and rising interest rates upended everything again.
  
  Poor Returns, Soaring Costs
  
  Big Oil’s returns in the renewables business were slim, at best, even before the 2022 energy and inflation shocks. Following these shocks, the soaring costs made investments unprofitable, and the European majors Shell, BP, and Equinor took millions of U.S. dollars in impairments on European and U.S. projects in 2023.
  
  Meanwhile, oil and gas production and trading were reaping high returns, and the majors’ profits skyrocketed to all-time highs. European oil and gas giants saw their valuation gap widen to the U.S. peers, ExxonMobil and Chevron.
  
  To shore up share prices and close that gap with the U.S. giants, BP and Shell changed tack and returned to their roots—the core business of pumping and trading conventional energy, which they see (again) as crucial to delivering to consumers while the world moves forward with the energy transition.
  
  Scaling Back Renewables
  
  While the majors aren’t abandoning all the renewable projects they embarked on in 2020 and 2021, they have started to scale back investments and are streamlining these on developments and energy solutions that they see as profitable.
  
  France’s TotalEnergies is the outlier in the group, as it has continued to focus on growing renewable energy capacity and power generation through acquisitions and joint ventures globally.
  
  Related: Drill Baby Drill Returns as G20 Drops Fossil Fuel Phase-Out from Final Draft
  
  But the others—Shell, BP, and Equinor—have all reviewed or are reviewing their involvement in clean energy solutions.
  
  BP, for example, said in June that it was scaling back plans for the development of new sustainable aviation fuel (SAF) and renewable diesel biofuels projects at its existing sites, pausing planning for two potential projects while continuing to assess three for progression.
  
  “This is aligned with bp’s drive to simplify its portfolio, focusing on value and returns,” the UK-based supermajor said.
  
  Weeks later, the other UK-based giant, Shell, said it was pausing on-site construction work at a biofuels plant in Rotterdam amid weak market conditions, taking a $780-million impairment charge for the second quarter for this.
  
  The pause at the 820,000 tons-a-year biofuels facility at the Shell Energy and Chemicals Park Rotterdam in the Netherlands was needed “to address project delivery and ensure future competitiveness given current market conditions,” the company said.
  
  Shell has also sold its retail home energy businesses in the UK and Germany.
  
  In the summer of 2023, the supermajor unveiled its new strategy to continue investing in oil and gas production and selectively pour capital into renewable energy solutions, angering climate activists and some institutional investors.
  
  Shell’s CEO Wael Sawan has said that reducing global oil and gas production would be “dangerous and irresponsible” as the world still needs those hydrocarbons.
  
  Earlier this year, Shell reaffirmed its ambitions to be a net-zero energy business by 2050 but eased its carbon intensity target for 2030 as it has shifted away from clean power sales to retail customers.
  
  Most recently, on the Q3 2024 earnings call, CEO Sawan said, commenting on the company’s focus on its core business, “We start from the perspective of believing that oil and gas have a critical role in the energy transition for a long time to come.”
  
  “We fundamentally believe that this energy transition is going to be a multi-decadal journey,” Sawan added.
  
  “We fundamentally believe that you’re going to require multiple energy forms to be able to navigate the energy transition and we do see that the energy system will start to see more uncertainty and more volatility in the context of geopolitical changes, demand supply cycles and the like, of course the intermittency of renewables as well.”
  
  BP, for its part, is reportedly scrapping a previous target to reduce its oil and gas production by the end of the decade.
  
  The company is also reportedly considering a potential sale of a minority stake in its offshore wind business in a move to reduce spending on project developments in the sector.
  
  In the Q3 results release, CEO Murray Auchincloss said “In oil and gas, we see the potential to grow through the decade with a focus on value over volume.”
  
  “We also have a deep belief in the opportunity afforded by the energy transition,” Auchincloss added.
  
  Norway’s Equinor is reviewing its renewables business, although it continues to bet big on offshore wind in the long term, evident in the recent acquisition of 9.8% in Ørsted, the world’s biggest offshore wind farm developer.
  
  Equinor has time to wait for a better investment climate in some of the offshore wind opportunities, chief financial officer Torgrim Reitan told analysts on the Q3 earnings call.
  
  “It will come, but for the time being, we are doing some changes organizationally to focus on business development activity, to reduce our cost levels and set ourselves up for playing this in the long run as such.”
  
  “There is very high inflation within the renewable business and there are clear bottlenecks in the supply chains,” Reitan noted.
  
  Source: Oilprice.com
- 2024-11-20
  MABUX: No sustainable trend expected in Global bunker market on Nov.20.
  MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), showed a slight upward movement on Nov.19: 380 HSFO - USD/MT - 518.24 (+2.47) VLSFO - USD/MT – 595.98 (+4.73) MGO - USD/MT – 760.40 (+6.46) As... Read more MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), showed a slight upward movement on Nov.19:
  
  380 HSFO - USD/MT - 518.24 (+2.47)
  VLSFO - USD/MT – 595.98 (+4.73)
  MGO - USD/MT – 760.40 (+6.46)
  
  As of Nov.19, the MABUX MBP/DBP Index (MDI), tracking the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), revealed the following trends across major ports – Rotterdam, Singapore, Fujairah, and Houston:
  
  • HSFO segment: Houston returned to the undercharge zone, joining Singapore and Fujairah, with the underprice premium increasing by $13 in Singapore, $6 in Fujairah, and $12 in Houston. Rotterdam remained the only overcharged port, with the margin decreased by $22, while port’s MDI index nearing a 100-percent correlation mark between market price and the MABUX digital benchmark.
  
  • VLSFO segment: Rotterdam and Houston were undercharged, with the underpricing gap widening by $14 and $11, respectively. Singapore and Fujairah saw narrowing margins by $12 in Suingapore and $13 in Fujairah. Both ports’ MDI index approached a 100-percent correlation mark between market price and the MABUX digital benchmark.
  
  • MGO LS segment: All four ports continued to be undercharged. The underprice rate rose by another $11 in Rotterdam, $7 in Singapore, $10 in Fujairah and $13 in Houston. MDI index in both Rotterdam and Singapore stayed steady above the $100 mark.
  
  We do not expect a firm trend in the Global bunker market on Nov.20: 380 HSFO – plus-minus 0-2 USD/MT, VLSFO – plus-minus 0-3 USD/MT, MGO LS – plus-minus 1-4 USD/MT.
  Source: MABUX