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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
778.50
0.00
626.00
+5.00
Jun 10
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	778.50	0.00	626.00	+5.00	Jun 10

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
466.31	+0.61	542.94	+1.74	727.82	+2.51	Jun 10

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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	434	434	0	480	485	-5	626	636	-10	Jun 10
Singapore	444	442	+2	513	528	-15	621	669	-48	Jun 10
Fujairah	420	479	-59	502	533	-31	707	822	-115	Jun 10
Houston	408	458	-50	483	574	-91	625	671	-46	Jun 10

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Latest News
- 2025-06-10
  Oil up 1% at 7-week high on hopes of positive US-China trade talks
  Oil prices edged up 1% to a seven-week high on Tuesday on hopes trade talks between the U.S. and China - the world’s two biggest economies - will result in a deal that could support global economic growth and boost oil demand. Brent crude futures rose... Read more Oil prices edged up 1% to a seven-week high on Tuesday on hopes trade talks between the U.S. and China - the world’s two biggest economies - will result in a deal that could support global economic growth and boost oil demand.
  Brent crude futures rose 81 cents, or 1.2%, to $67.85 a barrel by 11:22 a.m. EDT (1522 GMT), while U.S. West Texas Intermediate crude rose 83 cents, or 1.3%, to $66.12.
  Those gains pushed both crude benchmarks into technically overbought territory for the first time since early April and put Brent on track for its highest close since April 17 and WTI on track for its highest close since April 3.
  U.S. Commerce Secretary Howard Lutnick said trade talks with China were going well as the two sides met for a second day in London, seeking a breakthrough on export controls that have threatened a fresh rupture between the superpowers.
  "There’s a sense of optimism around these trade talks; the market is waiting to see what this will produce, and that is supporting prices," said Harry Tchilinguirian, group head of research at Onyx Capital.
  On the supply side, allocations to Chinese refiners showed that Saudi Arabia’s state oil company Saudi Aramco (TADAWUL:2222) will ship about 47 million barrels of oil to China in July, 1 million barrels less than June’s allotted volume, Reuters reported.
  The Saudi allocations could be an early sign that the unwinding of OPEC+ production cuts might not result in much additional supply, Tchilinguirian said.
  
  OPEC+, which pumps about half of the world’s oil and includes the Organization of the Petroleum Exporting Countries (OPEC) and allies like Russia, put forward plans for an output increase of 411,000 barrels per day (bpd) for July as it looks to unwind production cuts for a fourth straight month.
  A Reuters survey found that OPEC’s May increase to oil output was limited, with Iraq, the second biggest OPEC producer behind Saudi Arabia, pumping below target to compensate for earlier overproduction, and Saudi Arabia and the United Arab Emirates making smaller increases than agreed.
  Elsewhere, Iran said it would soon make a counter-proposal for a nuclear deal in response to a U.S. offer that Tehran deems "unacceptable", while U.S. President Donald Trump made clear that the two sides remained at odds over whether Tehran would be allowed to continue enriching uranium on Iranian soil.
  Iran is the third-largest OPEC producer and any easing of U.S. sanctions on Tehran should allow Iran to export more oil, which should reduce crude prices.
  In Europe, meanwhile, the European Commission proposed an 18th package of sanctions against Russia for its invasion of Ukraine, aimed at Moscow’s energy revenues, banks and military industry.
  Russia was the world’s second biggest crude producer in 2024 behind the U.S., and any increase in sanctions will likely keep more of that oil out of global markets, which could support oil prices.
  
  U.S. OIL INVENTORIES AND EXPORTS
  
  The American Petroleum Institute (API) trade group and the U.S. Energy Information Administration (EIA) are due to release U.S. oil inventory data on Tuesday and Wednesday, respectively. [EIA/S] [API/S]
  
  Analysts forecast energy firms added about 0.1 million barrels of oil to U.S. stockpiles during the week ended June 6.
  If correct that would be the first storage increase in three weeks and compares with an increase of 3.7 million barrels during the same week last year and an average increase of 2.8 million barrels over the past five years (2020-2024). Source: Reuters/Investing.com
- 2025-06-10
  EUROPE: CAVOTEC SIGNS €1.55 MILLION SHORE POWER ORDER FOR PORT OF ANTWERP-BRUGES CRUISE TERMINAL
  Cavotec has signed a €1.55 million shore power order from Equans for Belgium’s Port of Antwerp-Bruges which will enable vessels calling at the cruise terminal to connect to shore-side electricity. Delivery of the system is scheduled for the third quarter... Read more
- 2025-06-10
  GLOBAL: LANA PITEROVA TAKES ON NEW ROLE AT ROYAL CARIBBEAN
  Lana Piterova has been appointed to a new position as Director, Global Fuel Procurement & Sustainability at Royal Caribbean Group. Piterova first joined Royal Caribbean in 2019 as a Fuel Commodity Manager and became Senior Procurement Manager in 2023.... Read more
- 2025-06-10
  EUROPE: BUNKER OIL EXPANDS BUNKERING FACILITIES AT KRISTIANSUND AND FLORO
  Hot on the heels of the launch of its new bunker tanker Kystbunker 3, the supplier Bunker Oil has now informed Bunkerspot that it has expanded and renovated the ex-pipe terminals in the Norwegian ports of Kristiansund and Floro to handle an increase in... Read more
- 2025-06-10
  EUROPE: HDKSOE JOINS COPENHAGEN DECARBONISATION HUB
  HD Korea Shipbuilding & Offshore Engineering (HDKSOE) has joined the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping (MMMSZCS) as a strategic partner. HDKSOE will be contributing its expertise in ship design, engineering, digitalisation, and... Read more
- 2025-06-10
  EUROPE: PROPOSED AMENDMENTS TO KLAIPĖDA LNG TERMINAL REGULATIONS WILL COVER BIOMETHANE LIQUEFACTION SERVICE
  KN Energies has launched a public consultation on draft amendments to the regulations for its Klaipėda LNG terminal in Lithuania. Amongst other changes, the proposed amendments will cover and set the terms for the terminal’s biomethane liquefaction... Read more
- 2025-06-10
  Oil up as market watches US-China trade talks
  Oil prices climbed on Tuesday as investors awaited the outcome of U.S.-China talks that could pave the way for easing trade tensions and improve fuel demand. Brent crude futures rose 28 cents, or 0.4%, to $67.32 a barrel by 0330 GMT. U.S. West Texas... Read more Oil prices climbed on Tuesday as investors awaited the outcome of U.S.-China talks that could pave the way for easing trade tensions and improve fuel demand.
  Brent crude futures rose 28 cents, or 0.4%, to $67.32 a barrel by 0330 GMT. U.S. West Texas Intermediate crude was up 23 cents, or 0.4%, at $65.52.
  On Monday, Brent had risen to $67.19, the highest since April 28, buoyed by the prospect of a U.S.-China trade deal.
  U.S.-China trade talks were set to continue for a second day in London as top officials aimed to ease tensions that have expanded from tariffs to rare earth curbs, risking global supply chain disruptions and slower growth.
  Prices have recovered as demand concerns have faded with the trade talks between Washington and Beijing and a favourable U.S. jobs report, while there are risks to North American supply due to wildfires in Canada, Goldman Sachs analysts said.
  U.S. President Donald Trump said on Monday that the talks with China were going well and he was "only getting good reports" from his team in London.
  A trade deal between the U.S. and China could support the global economic outlook and boost demand for commodities including oil.
  Elsewhere, Iran said it would soon hand a counter-proposal for a nuclear deal to the U.S. in response to a U.S. offer that Tehran deems "unacceptable", while Trump made clear that the two sides remained at odds over whether the country would be allowed to continue enriching uranium on Iranian soil.
  
  Iran is the third-largest producer among members of the Organization of the Petroleum Exporting Countries and any easing of U.S. sanctions on Iran would allow it to export more oil, weighing on global crude prices.
  Meanwhile, a Reuters survey found that OPEC oil output rose in May, although the increase was limited as Iraq pumped below target to compensate for earlier overproduction and Saudi Arabia and the United Arab Emirates made smaller hikes than allowed.
  OPEC+, which pumps about half of the world’s oil and includes OPEC members and allies such as Russia, is accelerating its plan to unwind its most recent layer of output cuts.
  
  "The prospect of further hikes in OPEC supply continues to hang over the market," Daniel Hynes, senior commodity strategist at ANZ, said in a note.
  "A permanent shift to a market driven strategy (in OPEC) would push the oil market into a sizeable surplus in H2 2025 and almost surely lead to lower oil prices." Source: Reuters/Investing.com
- 2025-06-10
  China's Rare Earth Supply Squeeze Impacts Global Trade
  China is proving to be a more difficult adversary in the trade war launched by the Trump administration than previously imagined as it squeezes the world's rare earth elements (REEs) supply. I warned in early March that China had critical non-tariff weapons... Read more China is proving to be a more difficult adversary in the trade war launched by the Trump administration than previously imagined as it squeezes the world's rare earth elements (REEs) supply. I warned in early March that China had critical non-tariff weapons to bring to bear and that using them might turn out to be very painful for a world dependent on China's rare earth metal production. China currently controls 69 percent of the REEs mine production and almost 90 percent of the processing of these elements.
  
  Why is this important? As I pointed out in my previous piece:
  
  REEs are a group of metals, often found in deposits together, that are critical for modern electronics (such as computer hard disks, smartphones, and cameras); strong magnets used in hybrid cars and wind turbines; X-ray and MRI scanning equipment; aircraft engines; and crude oil refining. This is just a partial list. There are no viable substitutes for these metals available at any scale that would be meaningful.
  
  When the Trump administration imposed tariffs on Chinese goods that reached 145 percent, the Chinese responded with their own tariffs on American goods of 125 percent. Those have since been dropped considerably to 30 percent for Chinese imports into the United States and 10 percent for American goods coming into China.
  
  But tariff levels are not what counts regarding REEs. The Chinese have reduced shipments, and now major automakers are looking for a way around the squeeze which could close production lines within weeks. One possible solution is to move work to China. As a supply chain manager explained to The Wall Street Journal: "“If you want to export a magnet [from China] they won’t let you do that. If you can demonstrate that the magnet is in a motor in China, you can do that.” It would, of course, be a supreme irony of the Trump tariff war if it caused U.S. production to shift to China.
  
  How quickly such a strategy could be deployed and by how many companies is an open question. But the fact that major automakers are considering it is an indication of how serious the situation is.
  
  Europe is not being spared. Some parts plants have shut down already. The European Union is looking to diversify sources of REEs. But building up production and processing facilities takes time. A director for one European rare earth importer told Reuters: "There is no solution for the next three years except to come to an agreement with China."
  
  The Chinese government implemented the supply squeeze by requiring permits to export rare earth products. Magnets essential to electric motors have been particularly hard hit. (Not all rare earths are included in the permit system. To see a list of those requiring permits and their uses, click here.) While the Chinese government was supposed to ease up on approvals after the temporary trade war truce was agreed to by the United States and China, in practice, approvals are being given at a snail's pace. Some companies are resorting to smuggling.
  
  Another possible solution would be for automakers to go back to less-efficient, more expensive electric motors that don't use rare earth magnets. That's another move that would take time. And, automakers and others are running out of time before they must halt or significantly slow their production of parts and electric cars.
  
  The rare earths squeeze demonstrates once again just how vulnerable the tightly linked worldwide supply chain is to disruptions whether they result from policy decisions or other causes. Source: Oilprice.com
- 2025-06-10
  Iran and U.S. Face Off at Crucial IAEA Meeting
  The head of the UN's nuclear watchdog has called on Iran and the United States to find a "diplomatic solution" in talks over Tehran's nuclear program as a crucial quarterly meeting at the International Atomic Energy Agency (IAEA). The IAEA's board... Read more The head of the UN's nuclear watchdog has called on Iran and the United States to find a "diplomatic solution" in talks over Tehran's nuclear program as a crucial quarterly meeting at the International Atomic Energy Agency (IAEA).
  
  The IAEA's board of governors meeting is expected to hear and vote on a resolution finding Tehran in noncompliance with its safeguards for the first time in 20 years.
  
  Iran has vowed to take strong action against Western nations pushing the resolution at the gathering in the Austrian capital, with Behrouz Kamalvandi of Iran's atomic energy agency saying the IAEA "shouldn't expect the Islamic Republic of Iran to continue its broad and friendly cooperation" if the measure is approved.
  
  Speaking as the meeting kicked off in Vienna on June 9, Rafael Grossi said he was "convinced the only way forward is through a diplomatic solution."
  
  "Over the past months, I have worked closely and intensively with the Islamic Republic of Iran and the United States, through active consultations, in support of their bilateral negotiations to reach a mutually acceptable agreement that guarantees the peaceful nature of Iran's nuclear program," Grossi added.
  
  In a June 6 post on X, Iranian Foreign Minister Abbas Araqchi slammed Britain, France, and Germany -- collectively known as the E3 -- for "falsely accusing Iran" of violating its obligations and claimed the move was "designed to produce a crisis."
  
  "Mark my words as Europe ponders another major strategic mistake: Iran will react strongly against any violation of its rights. Blame lies solely and fully with irresponsible actors who stop at nothing to gain relevance," Araqchi warned.
  
  A draft resolution prepared by the E3 and backed by the United States was shared on June 5 with the 35 members of the IAEA Board of Governors, which will meet until June 13.
  
  In its latest quarterly report, the IAEA said Iran has sharply increased its production of highly enriched uranium, stockpiling 408.6 kilograms enriched to 60 percent -- up from just under 275 kilograms in February.
  
  The agency also criticized Iran for poor cooperation, particularly its failure to explain nuclear traces detected at undeclared sites.
  
  While 60 percent enrichment is below the 90 percent threshold required for weapons-grade material, it far exceeds the 3.67 percent limit set by the 2015 international nuclear deal, which US President Donald Trump exited in 2018 during his first term in office. Trump returned to the presidency in January.
  
  It comes as Trump has been seeking to forge a deal with Iran to rein in its nuclear activities.
  
  Washington and Tehran have held five rounds of talks since Trump, who re-imposed sanctions after withdrawing from the 2015 deal, returned to office.
  
  Uranium enrichment has been a major sticking point. The US administration maintains Iran must cease all enrichment activities, and Iran has rejected that demand.
  
  Araqchi, who leads Tehran's negotiating team, on May 31 said he had received "elements" of a US proposal for a potential deal following the Omani-mediated talks.
  
  Iranian parliament speaker Mohammad Bagher Ghalibaf on June 8 said that "the US plan does not even mention the lifting of sanctions."
  
  He accused Washington of attempting to impose a "unilateral" deal that Tehran would not be able to accept.
  
  Meanwhile, Iranian Intelligence Minister Esmail Khatib claimed, without offering evidence, that Tehran had captured an “important treasury” of information regarding Israel's nuclear program.
  
  The remarks came after Iran state broadcaster IRIB reported what it described as one of the "largest intelligence operations" in history against Israel, claiming Iranian intelligence obtained a vast cache of "sensitive documents" -- including thousands allegedly related to Israeli nuclear projects and facilities -- from inside Israeli territory.
  
  He said the documents -- which he claimed related to the United States, Europe, and others -- would "soon" be made public.
  
  Source: Oilprice.com
- 2025-06-10
  MABUX: Global bunker market to continue upward trend on Jun.10.
  The MABUX World Bunker Index—a composite indicator tracking daily prices for 380 HSFO, VLSFO, and MGO— showed no clear trend and fluctuated irregularly on Jun.09: 380 HSFO - USD/MT - 465.70 (-0.30) VLSFO - USD/MT – 541.20 (+0.59) MGO - USD/MT – 725.31... Read more The MABUX World Bunker Index—a composite indicator tracking daily prices for 380 HSFO, VLSFO, and MGO— showed no clear trend and fluctuated irregularly on Jun.09:
  
  380 HSFO - USD/MT - 465.70 (-0.30)
  VLSFO - USD/MT – 541.20 (+0.59)
  MGO - USD/MT – 725.31 (+2.83)
  
  As of Jun.09, the MABUX Market Differential Index (MDI), tracking the correlation between market bunker prices (MBP) and the MABUX Digital Bunker Price Benchmark (DBP)—recorded the following trends across key global ports: Rotterdam, Singapore, Fujairah, and Houston:
  
  • HSFO segment: Rotterdam and Singapore remained overcharged, although the premiums narrowed by $2 and $9, respectively. Fujairah and Houston continued to be undercharged, with discounts widening by $10 and $3, respectively. The MDI for Rotterdam and Singapore approached full (100%) correlation between MBP and DBP.
  
  • VLSFO segment: Rotterdam moved into the undercharge zone, joining the other three ports. All four ports were underpriced, with discounts increasing by $5 in Rotterdam, $7 in Singapore, $6 in Fujairah, and $4 in Houston. The MDI in both Rotterdam and Singapore remained close to full correlation.
  
  • MGO LS segment: All four ports remained underpriced. Discounts narrowed by $1 in Rotterdam and Houston, while they widened by $1 in Singapore and $4 in Fujairah. Rotterdam’s MDI stayed near the 100% correlation mark, while Fujairah’s MDI approached the $100 level.
  
  We expect Global bunker market to continue its upward trend on Jun.10: 380 HSFO – plus 1-3 USD/MT, VLSFO – plus 2-4 USD/MT, MGO LS – plus 3-6 USD/MT.
  Source: MABUX

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