Mabux: Global Bunker Prices

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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
702.50
+10.00
707.00
-10.00
Nov 10
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	702.50	+10.00	707.00	-10.00	Nov 10

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
428.13	-7.27	504.36	-8.06	804.71	-9.72	Nov 13

Click to see Regional Bunker Indexes

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	385	409	-24	425	459	-34	707	730	-23	Nov 13
Singapore	378	405	-27	462	495	-33	738	723	+15	Nov 13
Fujairah	342	377	-35	452	486	-34	733	786	-53	Nov 13
Houston	389	383	+6	436	438	-2	695	734	-39	Nov 13

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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
- 2025-11-13
  Interview with OceanWings CEO, Emmanuel Schalit
  The CEO of Paris-based OceanWings, Emmanuel Schalit, explains to ship.energy why his company’s ‘passive’ wind-assisted propulsion systems (WAPS) are suited to the gas carrier segment, and how the failure to adopt the International Maritime Organization... Read more
- 2025-11-13
  AmSpec expands into Mozambique
  Testing, inspection and certification company AmSpec has expanded its African footprint into Mozambique through the acquisition of GeoChem Mozambique and TJ Calibration. In a statement posted on LinkedIn today (12 November), AmSpec said the acquisitions... Read more
- 2025-11-13
  New role for Henrik Zederkof at Bunker Holding
  Henrik Zederkof has started a new position as Director of Sales and Operational Excellence at Bunker Holding A/S. He was previously Senior Director with the company from May 2017 to this month. Prior to this, he was CEO of Dan-Bunkering. As reported... Read more
- 2025-11-13
  Hapag-Lloyd posts a 6.7% increase in bunker consumption
  Shipowner Hapag-Lloyd has reported a 6.7% year-on-year (y-o-y) increase in its bunker consumption for the first nine months (9M) of 2025. In its third quarter (Q3) financial results published today (13 November), the company said that its 9M 2025 bunker... Read more
- 2025-11-13
  City of Rotterdam, Port of Rotterdam Authority present updated shore power strategy
  The Rotterdam municipal executive, together with the Port of Rotterdam Authority, recently presented the updated Shore Power Strategy 2025–2035 to the city council. In a statement issued yesterday (12 November), the Port of Rotterdam said the updated... Read more
- 2025-11-13
  Zachry Group awarded FEED contract for Louisiana blue methanol project
  Zachry Group has been awarded the front-end engineering design (FEED) scope for the Lake Charles Methanol II LLC (LCM) Project that is set to build a blue methanol production plant in Louisiana. In a statement issued yesterday (12 November), Zachry... Read more
- 2025-11-13
  MABUX: Bunker Weekly Outlook, Week 46, 2025.
  At the close of Week 46, the global bunker market continued to display mixed dynamics across major fuel grades, according to MABUX. The 380 HSFO index declined by USD 2.97, dropping from USD 438.61/MT to USD 435.64/MT. In contrast, the VLSFO index rose... Read more At the close of Week 46, the global bunker market continued to display mixed dynamics across major fuel grades, according to MABUX. The 380 HSFO index declined by USD 2.97, dropping from USD 438.61/MT to USD 435.64/MT. In contrast, the VLSFO index rose by USD 2.89, reaching USD 512.31/MT compared to USD 509.42/MT a week earlier. The MGO index also recorded a notable gain of USD 20.80, climbing from USD 794.68/MT to USD 815.48/MT, surpassing the USD 800/MT threshold. As of the time of writing, global bunker prices continue to move in a mixed pattern, showing no distinct directional trend.
  
  MABUX Global Scrubber Spread (SS) – the price difference between 380 HSFO and VLSFO – continued its moderate upward trend, gaining $5.86, from $70.81/MT last week to $76.67/MT, gradually approaching the psychological mark of $100.00 (SS Breakeven). The weekly average value of the index also increased by $4.39. In Rotterdam, the SS Spread also continued to rise, adding $13.00 ($40.00/MT versus $27.00/MT last week), forming a stable upward movement. The port’s weekly average SS Spread grew by $9.50. In Singapore, the price difference between 380 HSFO and VLSFO widened by $7.00, from $79.00/MT last week to $86.00/MT, exceeding the $80.00 mark. The weekly average value in the port also increased by $10.00. Overall, the SS Spread trend continues to demonstrate a clear widening of the price differential between 380 HSFO and VLSFO. In the medium term, the SS Spread may again approach the $100.00 level, which would further enhance the cost-effectiveness of using the HSFO + Scrubber combination compared with conventional VLSFO. Detailed information is available in the “Differentials” section on mabux.com.
  
  Global LNG markets remained broadly stable in October 2025, supported by ample supplies from the US, Qatar, and Africa, alongside easing demand from key Asian buyers. Additional volumes from US projects—including progress at Rio Grande LNG—helped sustain the global supply-demand balance, while Asian demand growth stayed muted due to mild weather and elevated inventories. LNG continued to play a vital role in stabilizing the European gas market during the third quarter of 2025: imports rose by 38% year-on-year, and regasification rates stayed near the upper end of the seasonal range.
  
  As of Nov. 11, European regional gas storage facilities were 82.39% full, down 0.63% from the previous week. With colder weather setting in, gas withdrawals have already slightly exceeded injection levels. Current storage fill remains 11.06% higher than the 71.33% recorded at the beginning of the year. The European TTF gas benchmark declined moderately during Week 46, falling by €1.449/MWh to €31.102/MWh, compared with €32.551/MWh a week earlier.
  
  The price of LNG as bunker fuel at the port of Sines (Portugal) declined by another $2.00 this week, to $730/MT compared with $732/MT the previous week. The price differential between LNG and conventional fuel remained in favor of LNG, widening to $83 versus $48 a week earlier, as MGO LS was quoted at $813/MT at the port of Sines on the same day. More detailed information is available in the “LNG Bunkering” section of mabux.com.
  
  At the end of Week 46, the MABUX Market Differential Index (MDI) – the ratio of market bunker prices (MBP) to the MABUX digital bunker benchmark (DBP) – reflected the following bunker fuel price trends across the world’s largest hubs: Rotterdam, Singapore, Fujairah, and Houston:
  
  • 380 HSFO segment: Three ports — Rotterdam, Singapore, and Fujairah — remained undervalued. The average weekly MDI values increased by 4 points in Rotterdam and 2 points in Singapore, while remaining unchanged in Fujairah. Houston was the only overvalued port in this segment, with its MDI decreasing by 2 points.
  
  • VLSFO segment: all four ports were undercharged. The average weekly MDI undervaluation levels decreased by 5 points in Rotterdam, 9 points in Singapore, 6 points in Fujairah, and 1 point in Houston. Notably, Houston’s MDI approached a 100% correlation between MBP and DBP.
  
  • MGO LS segment: Singapore shifted into the undervalued zone, resulting in all ports in this category being undervalued. MDI levels rose by 24 points in Rotterdam, 24 points in Singapore, and 34 points in Fujairah, but declined by 4 points in Houston. Fujairah’s MDI approached the $100.00 mark.
  
  By the end of the week, the overall balance of overvalued and undervalued ports continued to move toward undervaluation, most notably driven by Singapore’s shift in the MGO LS segment. We believe that the trend toward undervaluation in MDI values remains sustainable and is expected to continue in the global bunker market next 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.
  
  According to DNV data, a total of 30 alternative-fuel vessels were ordered in October—more than double the 14 orders recorded in September and a strong rebound from zero in August. The majority of new orders were for LNG-powered vessels (26 units), followed by four methanol-powered vessels. All LNG-powered ships were ordered for the container segment, while the methanol-powered ones were ordered for the tanker segment. Despite the October increase, a total of 222 alternative-fuel-capable vessels were ordered in the first ten months of this year, representing a 52% decline compared with the same period in 2024. About two-thirds (67%) of this year’s orders have been for LNG-powered vessels (147 units), with a nearly identical number (146 vessels) placed in the container segment. Meanwhile, the LNG bunkering vessel orderbook continues to grow, with four additional units added in October. Since the start of the year, 21 LNG bunkering vessels have been ordered, bringing the global total to 38. Two methanol bunkering vessels were also ordered during the month.
  
  We believe the global bunker market still retains growth potential. Global bunker indices may continue a moderate upward trend in the coming week.
  Source: MABUX
- 2025-11-13
  Oil prices edge down on US inventory build, OPEC forecast shift
  Oil prices edged lower on Thursday, extending losses from the previous session, after a report showing rising crude inventories in the U.S. reinforced concerns that the global supply is more than sufficient to meet current fuel demand. Brent crude futures... Read more Oil prices edged lower on Thursday, extending losses from the previous session, after a report showing rising crude inventories in the U.S. reinforced concerns that the global supply is more than sufficient to meet current fuel demand.
  Brent crude futures fell 9 cents, or 0.1%, to $62.62 a barrel at 0336 GMT, after dropping 3.8% a day earlier. U.S. West Texas Intermediate crude fell 11 cents, or 0.2%, to $58.38 a barrel, extending a 4.2% decline on Wednesday.
  Market sources, citing American Petroleum Institute figures, on Wednesday said U.S. crude stockpiles rose by 1.3 million barrels in the week that ended November 7. Gasoline and distillate stockpiles dropped, the sources said, citing the API data.
  Prices fell more than $2 a barrel on Wednesday after the Organization of the Petroleum Exporting Countries (OPEC) said global oil supplies will slightly exceed demand in 2026, marking a further shift from the group’s earlier projections of a deficit.
  "Recent (price) weakness seems to be driven by OPEC’s revision of supply-demand balance in 2026 in its monthly report, which confirms the group is now acknowledging the possibility of a supply glut in 2026, in contrast to its more bullish stance all along," said Suvro Sarkar, DBS Bank’s energy sector team lead.
  "This falls in place with the recent decision to pause the unwinding of voluntary production cuts in 1Q. Given that this is just a shift to a more realistic reading of the market, it doesn’t change fundamentals, hence the market reaction seems overdone."
  
  OPEC said it expected the supply surplus next year because of the wider production increases by OPEC+, a group of producers that includes OPEC members and allies like Russia.
  "OPEC’s signal of a supply surplus unleashed previously pent-up bearish sentiment in the previous session, while a U.S. crude inventory build added pressure, pushing oil prices to continue to slide on Thursday morning," said Yang An, an analyst at Haitong Securities.
  The U.S. Energy Information Administration is expected to release inventory data later on Thursday. Other reports on Wednesday added to the bearish investor sentiment.
  The EIA also said in its Short-Term Energy Outlook that U.S. oil production is expected to set a larger record this year than previously forecast.
  Global oil inventories will grow through 2026 as production increases faster than demand for petroleum fuels, adding to pressure on oil prices, the EIA added.
  
  Looking ahead, some analysts expected prices to remain close to present levels.
  "There should be considerable support to oil prices around $60/bbl, especially given there could be short-term disruption to Russian export flows once stricter sanctions kick in," DBS’ Sarkar said.
  Source: Reuters/Investing.com
- 2025-11-13
  Energy Majors Warn EU Climate Push Could Gut Supply Security
  The European Union is putting its energy security at risk by attempting to regulate every single molecule of energy products it will import in 2027, the year in which the EU will ban Russian natural gas. In its net-zero push and targets to slash emissions,... Read more The European Union is putting its energy security at risk by attempting to regulate every single molecule of energy products it will import in 2027, the year in which the EU will ban Russian natural gas.
  
  In its net-zero push and targets to slash emissions, the EU in recent years has adopted a series of legislative measures to address the energy sustainability issue. But in doing so, it is undermining what’s become the most important energy issue, that of security, in the aftermath of the Russian invasion of Ukraine and the realization that Europe cannot rely on Russia for its gas supply.
  
  The EU Regulation on reducing methane emissions in the energy sector, in effect from August 2024, and the proposed Corporate Sustainability Due Diligence Directive (CSDDD) are placing additional barriers to LNG flows to Europe, according to gas producers and traders and the world’s biggest LNG exporters, the United States and Qatar.
  
  Importers of LNG may have to divert cargoes away from the EU as of 2027 due to non-compliance with the legislation, which would reduce gas supply just as Europe will have phased out Russian gas flows.
  
  The U.S., Qatar, and the gas industry call for immediate, drastic changes to the regulations—or the scrapping of these—if the EU wants to protect its energy security and continue importing LNG from its top suppliers.
  
  Methane Regulation
  
  The first-ever EU Regulation on reducing methane emissions in the energy sector came into effect on August 4, 2024.
  
  For imports, the next milestone in the regulation is the monitoring, reporting, and verification requirement. Under this requirement, importers must demonstrate – as of January 2027 – that the crude oil, natural gas, or coal imported into the EU was produced in a jurisdiction with monitoring, reporting, and verification requirements equivalent to those applied domestically in the EU.
  Related: Namibia Plans to Tighten Presidential Grip Over Its Oil Sector
  
  The industry argues that there cannot be verification of emissions from the various sources of gas in an LNG cargo—in the case of the U.S., it is gas produced from thousands of wells across the country, which flows to liquefaction and export facilities. Importers say they cannot verify every single molecule. It’s also unclear how the EU will verify the verification provided by importers.
  
  “We have been complaining about many of these things basically since day one,” Andreas Guth, secretary-general of industry association Eurogas, told the Financial Times.
  
  Eurogas members include supermajors Shell, TotalEnergies, and BP, which are also the world’s top LNG traders.
  
  Importers of LNG into Europe “may decide to divert those cargoes to other markets outside of the EU” if the methane rules are not changed “immediately”, Guth told FT.
  
  Eurogas and five other industry associations last month raised concerns about the so-called “tracing issue” in pinpointing the exact origin of energy molecules throughout their often long, often complex journey since production.
  
  The general concepts to address the “tracing issue” proposed so far “may not adequately consider the current gas and crude market structures and, hence, are unlikely to be implementable without considerable cost and disruption to existing markets or are unlikely to be implementable in key producing countries that supply the EU market,” the associations said in a joint paper.
  
  Another group, the International Gas Union (IGU), while supporting the objectives behind the methane rules, warned this summer that “closer cooperation between government and industry is necessary to ensure well intended regulatory actions are aligned with the industry's realities, and that they do not hinder countries’ ongoing efforts to achieve energy security through diversification.”
  
  Sustainability Directive
  
  The methane regulation is just one product of the EU’s bureaucratic machine. Another rule, the so-called Corporate Sustainability Due Diligence Directive (CSDDD), which imposes penalties on companies in case of non-compliance, has drawn the ire of Qatar and the United States and supermajors including ExxonMobil.
  
  Exxon would be forced to quit its business in Europe if the EU doesn’t materially ease or repeal the directive, CEO Darren Woods said last week.
  
  “If we can't be a successful company in Europe, and more importantly, if they start to try to take their harmful legislation and enforce that all around the world where we do business, it becomes impossible to stay there,” Woods told Reuters.
  
  Exxon’s top executive has told Bloomberg recently that the directive is “the worst piece of legislation I’ve seen since I’ve been in this job.”
  
  U.S. Energy Secretary Chris Wright and Qatari Minister of State for Energy Affairs, Saad Sherida Al-Kaabi, told the EU last month in a letter that proposed alternative texts haven’t properly addressed the problematic issues in the directive.
  
  “We have consistently and transparently communicated how the CSDDD, as it is worded today, poses a significant risk to the affordability and reliability of critical energy supplies for households and businesses across Europe and an existential threat to the future growth, competitiveness, and resilience of the EU's industrial economy,” the top energy officials of the U.S. and Qatar said.
  
  They call on the EU to either repeal the CSDDD in its entirety or remove its most economically damaging provisions, including those on the extra-EU application of the directive, penalties, and civil liability of companies.
  
  The U.S. National Association of Manufacturers (NAM) also slammed the EU directive, saying last month that “a sweeping new European Union regulation could saddle America’s manufacturers with costly red tape—undermining U.S. sovereignty and manufacturing growth here at home.”
  
  NAM Managing Vice President of Policy, Charles Crain, commented, “Manufacturers appreciate the Trump administration standing up for our industry on the world stage, and we urge both American and European policymakers to protect U.S. companies from this costly and unworkable burden.”
  
  Source: Oilprice.com
- 2025-11-13
  Big Oil’s Billion-Dollar Bet on the Caspian Is Paying Off
  To identify the regions generating the most cash for majors, we forecast the group’s top five projects by cumulative free cash flow for the period 2025 to 2030. Two standout regions are the Permian shale play, which dominates the US majors' portfolios,... Read more To identify the regions generating the most cash for majors, we forecast the group’s top five projects by cumulative free cash flow for the period 2025 to 2030. Two standout regions are the Permian shale play, which dominates the US majors' portfolios, and the Caspian region, where all majors have maintained their presence despite portfolio streamlining
  
  Chevron’s projected $28 billion in free cash flow from Kazakhstan’s Tengiz field underscores the region's value to its portfolio. ExxonMobil's $14 billion in revenue from Tengiz further emphasizes the field's prominence, making it the second highest in the company's global portfolio. BP's operations in the Caspian are equally critical, with the Shah Deniz gas project in Azerbaijan forecast to deliver $6 billion in free cash flow. Finally, the Kashagan field is forecast as the highest cash flow generator for TotalEnergies and Eni, and the third highest for Shell, at $5 billion for each company.
  
  The Caspian region remains a cornerstone of global energy supply and a key area of strategic interest for international investors. With substantial reserves, established infrastructure and a proven record of successful partnerships, countries such as Azerbaijan and Kazakhstan continue to attract major foreign capital through favorable contractual frameworks and reliable production growth. Meanwhile, Turkmenistan and Uzbekistan are gradually enhancing their investment environments, signaling an openness to deeper international collaboration.
  
  Despite evolving global market conditions, the Caspian’s vast resource base and advantageous location between Europe and Asia ensure its continued relevance in the global energy landscape. To sustain growth and strengthen competitiveness, Caspian nations will need to maintain transparent investment regimes, modernize regulatory frameworks and foster technological innovation. By doing so, they can maximize the long-term value of their hydrocarbon wealth and solidify their position as reliable energy partners on the world stage. Source: Oilprice.com

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