Mabux: Global Bunker Prices

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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
750.00
-107.50
633.00
+3.00
Mar 10
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	750.00	-107.50	633.00	+3.00	Mar 10

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
499.39	-1.24	578.46	-0.06	759.71	-3.22	Mar 12

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	437	431	+6	500	490	+10	633	641	-8	Mar 12
Singapore	475	440	+35	510	529	-19	646	674	-28	Mar 12
Fujairah	456	481	-25	508	535	-27	738	827	-89	Mar 12
Houston	423	448	-25	517	564	-47	663	676	-13	Mar 12

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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
- 2025-03-12
  GLOBAL: BALTIC EXCHANGE ADDS BIOFUEL BLENDS TO ITS FEUM CALCULATOR
  Baltic Exchange has introduced a series of green fuel options to its FuelEU Maritime (FEUM) voyage and compliance cost calculator to help shipowners, traders and charterers assess the regulation’s commercial implications. In a statement sent to Bunkerspot... Read more
- 2025-03-12
  EUROPE: GIBRALTAR RECORDS Y-O-Y INCREASE IN FEBRUARY BUNKER CALLS
  The 349 vessels that called for bunkers in Gibraltar last month was 26 up on the 323 recorded in February 2024. This brought the total number of calls for bunkers at the Mediterranean marine fuels hub during the first two months of the year to 738... Read more
- 2025-03-12
  AMERICAS: PETROJAM RESTARTING DIRECT BUNKERING DELIVERIES BY BARGE IN JAMAICA
  Jamaica’s national oil company Petrojam has confirmed to Bunkerspot that it is set to resume direct bunker deliveries by barge this month. Responding to Bunkerspot’s request for information on the new delivery service, Petrojam said the name and provenance... Read more
- 2025-03-12
  EUROPE: SONAN BUNKERS TRANSFERS ROTTERDAM PHYSICAL BUNKERING OPERATIONS TO MELROH TRADING
  Sonan Bunkers Ltd has informed Bunkerspot that, effective immediately, it has transferred its physical bunkering operations in the Port of Rotterdam to MelRoh Trading BV. In a statement sent to Bunkerspot today (12 March), Sonan Bunkers said that,... Read more
- 2025-03-12
  EUROPE: VERDE MARINE ENERGY DEBUTS VLSFO SUPPLIES IN ARA
  Rotterdam-based marine fuel supplier Verde Marine Energy is expanding its marine fuel offering with the commencement of very low sulphur fuel oil (VLSFO) supply operations. The company will begin VLSFO supplies using the bunker barge MTS Malia from... Read more
- 2025-03-12
  Oil up on weak dollar but tariff concerns cap gains
  Oil prices edged up on Wednesday, buoyed by a weaker dollar, but mounting fears of a U.S. economic slowdown and the impact of tariffs on global economic growth capped gains. Brent futures rose 51 cents, or 0.7%, to $70.07 a barrel at 0430 GMT, while... Read more Oil prices edged up on Wednesday, buoyed by a weaker dollar, but mounting fears of a U.S. economic slowdown and the impact of tariffs on global economic growth capped gains.
  Brent futures rose 51 cents, or 0.7%, to $70.07 a barrel at 0430 GMT, while U.S. West Texas Intermediate crude futures gained 52 cents, or 0.8%, to $66.77 a barrel.
  Despite the weakening economic outlook, oil held steady in a positive position, said Daniel Hynes, senior commodity strategist at ANZ. "That’s a sign that near-term demand for crude remains strong."
  The dollar index, which fell 0.5% to fresh 2025 lows on Tuesday, boosted oil prices by making crude less expensive for buyers holding other currencies. [USD/]
  "Easing dollar counters the bearish bias of global economic slowdown, although this seems short-lived," said Priyanka Sachdeva, senior market analyst at Phillip Nova.
  U.S. stock prices, which also influence the oil market, fell again on Tuesday, adding to the biggest selloff in months, with investors rattled over increased tariffs on imports and souring consumer sentiment.
  "Overall sentiment remains fragile despite a slight bounce in today’s session," said Yeap Jun Rong, market strategist at IG.
  "For now, oil market sentiments are likely to stay contained, with tariff developments still lacking clarity and persistent concerns over U.S. growth risks," Yeap added.
  U.S. President Donald Trump’s protectionist policies have shaken global markets. He has imposed, then delayed tariffs on major oil suppliers Canada and Mexico, while also raising duties on China, prompting retaliatory measures.
  
  Over the weekend, Trump said a "period of transition" was likely and declined to rule out a U.S. recession.
  In supply, U.S. crude oil production is poised to set a larger record this year than prior estimates, at an average 13.61 million barrels per day, the U.S. Energy Information Administration said on Tuesday.
  Investors are waiting for U.S. inflation data due on Wednesday for clues on the path of interest rates. They also are closely monitoring OPEC+ plans. The producer group has announced plans to increase output in April.
  In the U.S., crude oil stockpiles rose by 4.2 million barrels in the week ended March 7, market sources said, citing American Petroleum Institute figures on Tuesday.
  Markets now await government data on U.S. stockpiles due on Wednesday for further trading cues. Source: Reuters/Investing.com
- 2025-03-12
  U.S. LNG's Kingmaker Status Has an Expiration Date
  Once upon a time, in the not-so-distant past, the United States was the world's largest importer of energy, guzzling down foreign oil and gas like a frat boy at a kegger. But the script has since flipped. Thanks to the shale revolution and a penchant... Read more Once upon a time, in the not-so-distant past, the United States was the world's largest importer of energy, guzzling down foreign oil and gas like a frat boy at a kegger. But the script has since flipped. Thanks to the shale revolution and a penchant for hydraulic fracturing (fracking), the U.S. has transformed from energy junkie to pusher, with liquefied natural gas (LNG) as its hottest commodity.
  
  The Shale Gale: A Brief History
  
  In the early 2000s, the U.S. was staring down the barrel of energy scarcity. Natural gas production was declining, and Alan Greenspan, then Federal Reserve Chairman, was advocating for increased imports to keep the lights on. Enter fracking—a technique that involves injecting high-pressure fluid into shale rock to release trapped gas and oil. This method unlocked vast reserves across states like Texas, Pennsylvania, and North Dakota, catapulting the U.S. into the upper echelons of energy producers.
  
  By 2016, the U.S. had become a net exporter of natural gas, and by 2023, it was the world's largest LNG exporter, surpassing heavyweights like Qatar and Australia. In December 2023 alone, U.S. LNG exports averaged a whopping 13.6 billion cubic feet per day, contributing to a record annual total of 20.9 billion cubic feet per day for all natural gas exports.
  
  LNG: The Cool Kid on the Block
  
  Liquefied natural gas is essentially natural gas that's been supercooled to -260°F (-162°C), turning it into a liquid that's easier to transport across the globe. This chilling process shrinks the gas to 1/600th of its original volume, making it feasible to ship it to markets previously out of reach via pipelines.
  
  The U.S. has capitalized on this by building massive LNG export terminals along its Gulf Coast, like Cheniere Energy and Venture Global, who have invested billions in facilities that chill, liquefy, and load natural gas onto specialized tankers destined for Europe, Asia, and beyond.
  
  Geopolitical Gas Games
  
  U.S. LNG exports aren’t just padding energy company profits—they’re redrawing the global energy chessboard. For decades, countries like Germany, Japan, and South Korea had to play nice with traditional gas suppliers, even if those suppliers were unreliable or outright hostile. Now, they’ve got options.
  
  Take Europe, for example. Once addicted to Russian gas, the continent was left scrambling after the 2022 invasion of Ukraine made Russian pipelines a liability. Enter U.S. LNG—riding in like the cavalry, tankers full of liquid freedom sloshing toward European ports.
  
  By 2023, the U.S. had become Europe’s top LNG supplier, effectively neutering Russia’s gas stranglehold.
  
  Asia isn’t far behind. Japan, South Korea, and Taiwan are all doubling down on American gas to hedge against price volatility and geopolitical risk. Trump even floated the idea of these nations investing in an ambitious natural gas pipeline from Alaska. Whether that deal ever materializes is anyone’s guess, but the mere fact that it’s on the table shows how central U.S. LNG has become to global energy security.
  
  Boom or Bust: The LNG Debate at Home
  
  Not everyone’s thrilled about America’s LNG dominance. While exporters, Gulf Coast communities, and energy investors are celebrating, environmentalists and some policymakers are clutching their pearls. Their concerns? The fracking boom fueling LNG exports could drive up domestic gas prices, prolong dependence on fossil fuels, and wreck the planet.
  
  The Biden administration even hit the brakes on new LNG export approvals in early 2024, citing environmental concerns and potential cost impacts for U.S. consumers. The industry howled in protest, and the Department of Energy’s own study later undercut the rationale for the pause, showing that increased U.S. LNG exports would have a negligible impact on global emissions. In the end, it didn’t matter—Trump overturned Biden’s freeze on his first day back in office, greenlighting more projects without so much as a nod to climate activists.
  
  The Road Ahead: Smooth Sailing or an Iceberg?
  
  In the short term, U.S. LNG is riding high. Demand is strong, global buyers are locked into long-term contracts, and new export terminals are coming online. But cracks are forming.
  
  For one, the economics of LNG are shifting. The cost of building and operating liquefaction plants has soared. In response, companies like Energy Transfer and Venture Global have renegotiated sales contracts at higher prices. Buyers, especially in China, are pushing back.
  
  Then there’s the geopolitical wildcard. Europe is cozy with U.S. LNG now, but as renewable energy scales up and nuclear power makes a comeback, some analysts suggest that long-term demand isn’t guaranteed. China is already playing hardball, slapping retaliatory tariffs on U.S. LNG in early 2025.
  
  A Gas-Fueled Future… for Now
  
  For all the hype, U.S. LNG’s reign as a geopolitical kingmaker has an expiration date. Sure, the world is hungry for energy, and American gas is cheap and plentiful. But energy transitions happen in waves. For now, though, America is the undisputed heavyweight champ of natural gas. And as long as the world keeps buying, U.S. producers will keep shipping. The only real question is whether the boom lasts. Source: Oilprice.com
- 2025-03-12
  Trump Tariffs Threaten U.S. Oil Refiners
  President Donald Trump’s newly imposed 25% tariffs on goods from Mexico and a 10% tariff on energy products from Canada have the potential to send ripples through the U.S. oil and gas market. These tariffs, effective March 4, come after last-minute... Read more President Donald Trump’s newly imposed 25% tariffs on goods from Mexico and a 10% tariff on energy products from Canada have the potential to send ripples through the U.S. oil and gas market.
  
  These tariffs, effective March 4, come after last-minute negotiations failed, raising concerns about higher costs for refiners and potential disruptions to North America’s tightly integrated energy supply chains.
  
  How Canadian Oil Tariffs Could Disrupt U.S. Refiners
  
  The U.S. imports approximately 4.4 million barrels per day (MMb/d) of crude oil from Canada, accounting for about 27% of total U.S. refinery demand. The Midwest (PADD 2) is particularly dependent on Canadian oil, receiving about 3.5 MMb/d—roughly 75% of Canada’s total crude exports.
  
  Many U.S. refiners, particularly in the Midwest and Rocky Mountain regions, have spent billions upgrading facilities to process Canada’s heavy, sour crude. These refiners prefer Canada’s discounted barrels because they provide the best refining margins.
  
  A 10% tariff on Canadian crude will increase costs for these refiners, and this will both erode margins, and get passed on to consumers in the form of higher gasoline and diesel prices. Refiners do have some options for replacing this crude, but they are more expensive, and there may be logistical challenges. Further, in the short-term it will definitely cause some disruptions to U.S. refinery operations, much as Russia’s invasion of Ukraine did in 2022.
  
  However, because of how deeply integrated the U.S.-Canada crude supply chain is, analysts believe that nearly 90% of Canadian oil imports will continue flowing into the U.S. despite the tariff. The bigger concern is for refiners in California and the Northeast, which rely on Canadian crude shipped from Newfoundland and Alberta. Some may seek alternative sources such as Alaskan North Slope (ANS) crude or heavier Middle Eastern grades but switching suppliers could present the aforementioned logistical and pricing challenges.
  
  Impact on Mexican Oil Imports
  
  The 25% tariff on Mexican crude is even more significant. The U.S. imported about 625,000 barrels per day from Mexico in 2024, mainly heavy Maya crude destined for Gulf Coast refiners (PADD 3). This heavy crude is a critical feedstock for refineries that specialize in processing lower-quality oils into usable fuels.
  
  Unlike Canadian crude, Mexican oil imports could see a sharp decline because refiners along the Gulf Coast have more alternative sources. Venezuelan crude, Middle Eastern heavy grades, and even some Canadian barrels rerouted from PADD 2 could replace Mexican oil. However, redirecting supply chains is not seamless—it involves higher transportation costs and potential disruptions. In the short term, refiners may absorb some of the higher costs, but over time, fuel prices could inch higher as a result.
  
  Wider Economic and Market Impacts
  
  Beyond oil and gas prices, tariffs on energy imports can have broader economic repercussions. Higher refining costs could squeeze profit margins for U.S. refiners, potentially leading to lower capital expenditures, delayed maintenance schedules, and even job reductions in refinery-dependent regions. Additionally, any sustained increase in energy costs could impact industries that rely heavily on oil and gas, such as transportation, agriculture, and manufacturing.
  
  Energy markets also react strongly to uncertainty. If tariffs introduce supply chain inefficiencies or raise the prospect of retaliatory actions from Mexico and Canada, crude oil futures could experience higher volatility. Canada and Mexico could respond by imposing tariffs on U.S. refined fuel exports, making American gasoline, diesel, and jet fuel more expensive in key foreign markets.
  
  Final Thoughts
  
  The U.S. oil market is deeply intertwined with those of Canada and Mexico, and tariffs on crude oil imports will have consequences—some immediate, others playing out over time. While U.S. refiners will still process the majority of Canadian crude despite the 10% tariff, the 25% tariff on Mexican oil could shift trade patterns and raise costs for Gulf Coast refiners.
  
  Ultimately, the energy industry is adept at adjusting to policy shifts, but those adjustments come at a cost. It also takes time to adjust, and prices can be volatile during the adjustment period. If sustained, these tariffs could contribute to higher fuel prices, market volatility, and economic inefficiencies—raising the question of whether the benefits of trade leverage outweigh the financial burden imposed on American consumers. Source: Oilprice.com
- 2025-03-12
  U.S. Dependence on Foreign Resources Fuels Trade Tensions
  There's no telling exactly where the Trump administration's trade war is going as the president authorizes tariffs and then quickly suspends them, only to authorize them again and suspend them again or provide waivers for certain industries. While tariffs... Read more There's no telling exactly where the Trump administration's trade war is going as the president authorizes tariffs and then quickly suspends them, only to authorize them again and suspend them again or provide waivers for certain industries. While tariffs on narrowly defined categories of goods to guard against unfair competition may be workable, the administration's shotgun approach to tariffs risks a cutoff of strategic minerals that could strangle America's tech industry.
  
  As I've written before, the United States is dangerously dependent on other countries for a wide-ranging list of metals and, in some cases, completely dependent. (For more on that, see here, here, here and here.) Responses to tariffs do not have to take the form of retaliatory tariffs by the targeted country. They can take the form of export restrictions that deny the United States key commodities and products necessary to important industries.
  
  China currently controls 69 percent of rare earth elements (REE) mine production and almost 90 percent of the processing of these elements. 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.
  
  By the way, China's share of REE processing versus its share of worldwide mine production tells us that some countries that mine REEs remain partially or wholly dependent on China to process the ore. Until the opening of a domestic processing facility in California, the United States was also dependent on China for processing.
  
  The Chinese have already begun to restrict exports of the technology for processing REEs. In December in response to U.S. restrictions on the export of advanced computer chips and production equipment to China, China banned exports of gallium, germanium and antimony to the United States. These are not REEs. However, gallium and germanium are key building blocks for semiconductors of the kind used in advanced computer chips. Germanium is also used in infrared technology, fiber optic cables and solar cells. Antimony is used in ammunition, flame retardants, ceramics, and glass and rubber products.
  
  Nearly all of the world's gallium mine production comes from China. Germanium mine production is not reported publicly, but the United States gets 51 percent of its germanium from China. China dominates antimony production with 60 percent of annual mine production.
  
  The ban on Chinese exports of gallium, germanium and antimony signals that China is willing to take the economic pain involved in denying itself sales into the U. S. market in order to make a point. Don't be surprised if sometime this year, China decides to make a point about its displeasure with America's trade war by banning or seriously curtailing REE exports to the United States. If it happens, the move will show that protecting American industry is more complicated than the Trump administration realizes. Source: Oilprice.com
- 2025-03-12
  MABUX: Global bunker indices to trend higher on Mar.12.
  MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), showed a slight downward movement on Mar.11: 380 HSFO - USD/MT - 500.63 (-3.82) VLSFO - USD/MT – 578.52 (-7.12) MGO - USD/MT – 762.93 (-7.31) As... Read more MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), showed a slight downward movement on Mar.11:
  
  380 HSFO - USD/MT - 500.63 (-3.82)
  VLSFO - USD/MT – 578.52 (-7.12)
  MGO - USD/MT – 762.93 (-7.31)
  
  As of Mar.11, the MABUX Market Differential Index (MDI), which monitors the correlation between market bunker prices (MBP) and the MABUX Digital Bunker Price Benchmark (DBP), registered the following trends across key ports: Rotterdam, Singapore, Fujairah, and Houston:
  
  • HSFO segment: Rotterdam and Singapore were overcharged, with premiums widening by $5 in Rotterdam and $4 in Singapore. Fujairah and Houston stayed in the undercharge zone, with the discount decreasing by $9 but increasing by $1, respectively. Rotterdam’s MDI remained close to a 100-percent correlation mark between MBP and DBP.
  
  • VLSFO segment: Rotterdam was the only overcharged port, though its margin declined by $1. Singapore, Fujairah, and Houston continued to be undercharged, with the ratio dropping by $7, $4, and $6, respectively. MDI in Rotterdam neared a 100-percent correlation mark between MBP and DBP.
  
  • MGO LS segment: All four selected ports were underpriced, with the gap narrowing by $4 in Rotterdam and Singapore, $7 in Fujairah, and $6 in Houston. Rotterdam’s MDI approached a 100-percent correlation mark between MBP and DBP.
  
  We expect Global bunker indices to resume an upward movement on Mar.12: 380 HSFO – plus 1-3 USD/MT, VLSFO – plus 1-3 USD/MT, MGO LS – plus 2-5 USD/MT.
  Source: MABUX