Mabux: Global Bunker Prices

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MARKET BUNKER PRICES (MBP)
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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
1 134.00
-81.00
1 380.00
-60.00
Mar 30
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	1 134.00	-81.00	1 380.00	-60.00	Mar 30

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
819.01	-1.05	951.05	-2.77	1 629.25	-35.68	Mar 31

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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	710	735	-25	740	814	-74	1 380	1 419	-39	Mar 31
Singapore	721	767	-46	880	916	-36	1 855	1 412	+443	Mar 31
Fujairah	740	713	+27	855	884	-29	1 750	1 475	+275	Mar 31
Houston	660	672	-12	880	786	+94	1 320	1 289	+31	Mar 31

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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
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Latest News
- 2026-03-31
  Hormuz transits remain 95% down, Clarksons Research data shows
  Clarksons Research reports a slight uptick in the number of vessels travelling through the Strait of Hormuz, with an average of six ships per day in the past week compared to four the previous week, but warns that transits are still 95% down on pre-conflict... Read more
- 2026-03-31
  Finnlines to introduce emergency bunker surcharge for passengers
  A ‘significant increase in fuel prices’ has prompted Finnlines to introduce an emergency bunker surcharge (EBS) for passenger traffic. In a statement issued last week, Helsinki-headquartered Finnlines said fuel prices had recently risen by ‘approximately... Read more
- 2026-03-31
  BBC Chartering enters Ahti Pool as a compliance buyer
  German shipping company BBC Chartering will purchase 5,000 tonnes carbon dioxide equivalent (CO2e) of ‘compliance surpluses’ from Finland-based Ahti Pool to meet its 2025 obligations under the FuelEU Maritime regulation. The agreement covers ‘several’... Read more
- 2026-03-31
  Port of Algeciras flags record 2025 LNG bunkering volumes
  The 333,833 cubic metres (cbm) of marine LNG supplied to vessels in Algeciras last year marked a new annual record at the Spanish port. In a social media post, the Port of Algeciras, citing data from Gasnam, said last year’s result put it in the top... Read more
- 2026-03-31
  AD Ports’ sees five-fold rise in revenue and profits since 2020
  In its newly-published 2025 Annual Report, AD Ports has announced that its ‘revenue and profits have risen more than five-fold since 2020’. The Abu Dhabi-headquartered group yesterday (30 March) posted ‘record’ revenues of AED 20.77 billion and total... Read more
- 2026-03-31
  EC greenlights €6 billion Italian aid scheme for renewable hydrogen
  The European Commission has approved a €6 billion Italian state aid scheme to support the production of up to 200,000 tonnes of renewable hydrogen a year for the transport and industrial sectors. In a statement issued yesterday (30 March), the EC said... Read more
- 2026-03-31
  Oil rises for a fourth day on supply cuts from widening Middle East conflict
  Oil prices rose for a fourth day on Tuesday, with Brent crude poised for its largest monthly gain on record and U.S. crude futures set for their strongest monthly increase since 2020, because of supply constraints from the widening Middle East war. Brent... Read more Oil prices rose for a fourth day on Tuesday, with Brent crude poised for its largest monthly gain on record and U.S. crude futures set for their strongest monthly increase since 2020, because of supply constraints from the widening Middle East war.
  Brent crude futures for May rose $2.26, or 2%, to $115.04 a barrel at 0002 GMT, after reaching their highest since March 19 during the prior session. The May contract expires on Tuesday and the more active June contract was at $108.96.
  U.S. West Texas Intermediate futures for May climbed $3.10, or 3%, to $105.96 a barrel, its highest since March 9.
  Iran’s effective closure of the Strait of Hormuz, which typically carries about a fifth of global oil supply and large numbers of liquefied natural gas tankers, has pushed Brent futures up 59% so far in March, its highest monthly gain ever, while WTI is up 58% this month, the most since May 2020.
  Highlighting the threat to seaborne energy supplies from the war between Iran and the United States and Israel, Kuwait Petroleum Corp said on Tuesday its fully loaded crude oil tanker Al Salmi, capable of carrying up to 2 million barrels, was struck by an alleged Iranian attack at Dubai port, the state news agency KUNA said on Tuesday. Officials also warned of potential oil spills in the area.
  On Saturday, Yemen’s Iran-aligned Houthi forces targeted Israel with missiles, raising fresh concerns over possible disruptions to the Bab el-Mandeb strait, the chokepoint linking the Red Sea and Gulf of Aden and a key route for ships moving between Asia and Europe via the Suez Canal.
  
  "If the Houthis successfully resume a blockade of the Bab al-Mandab Strait, both of the world’s most critical energy arteries would be under simultaneous pressure. This ’twin chokepoint’ crisis is a nightmare scenario for global supply chains," said Tim Waterer, chief market analyst at KCM Trade.
  Saudi crude exports have been rerouted through this route, with volumes redirected from the Gulf to the Red Sea port of Yanbu reaching 4.658 million barrels per day last week, Kpler data showed, a sharp rise from an average of 770,000 bpd in January and February.
  U.S. President Donald Trump warned on Monday that the U.S. would "obliterate" Iran’s energy plants and oil wells if Tehran does not reopen the Strait of Hormuz. This followed Tehran’s dismissal of U.S. peace proposals as "unrealistic" and its recent missile strikes on Israel.
  Still, the White House said on Monday that talks with Iran were continuing and progressing well, adding that what Tehran says publicly differs from what it tells U.S. officials in private.
  "The markets do not see any offramp for the conflict as the two sides are very wide apart in terms of their demands despite the rosy picture that President Trump is painting," Marex analyst Edward Meir said. Source: Reuters/Investing.com
- 2026-03-31
  Ecuador Loses $100 Million a Year to Fuel Theft, and It's Getting Worse
  Illegal taps on Ecuador's pipeline network jumped 34-fold between 2022 and mid-2025, with authorities now estimating around 20,000 gallons of fuel stolen daily at a cost of roughly $100 million a year. Cocaine cartels — Los Tiguerones, Los Lobos, Los... Read more Illegal taps on Ecuador's pipeline network jumped 34-fold between 2022 and mid-2025, with authorities now estimating around 20,000 gallons of fuel stolen daily at a cost of roughly $100 million a year.
  Cocaine cartels — Los Tiguerones, Los Lobos, Los Choneros, and Los Gánsters — are driving the surge, using stolen diesel and crude fuel to power illegal mining operations and cocaine production.
  Brent crude has surged 84% since the start of 2026 to nearly $113 per barrel, and a 56% spike in domestic diesel prices following the scrapping of fuel subsidies are making fuel theft an increasingly profitable and hard-to-stop illicit economy.
  Red fuel can sitting on gravel
  A little-recognized consequence of soaring cocaine related lawlessness and bloodshed in the tiny South American country of Ecuador is a massive surge in hydrocarbon theft. This serious problem, long associated with Colombia, which is the world's largest cocaine producer, arose because of the tremendous profits that can be earned from stealing gasoline and diesel. Rising fuel prices along with heightened lawlessness are driving ever-higher levels of hydrocarbon theft, which even government crackdowns appear incapable of stopping.
  
  Not long after the end of the 2020 COVID pandemic, Ecuador exploded in violence as criminal gangs clashed with each other and the authorities over the control of cocaine trafficking. The surge in violence was so spectacular that hooded gunmen even stormed a television station in Guayaquil, Ecuador's largest city and commercial hub, in January 2024 as armed clashes spiraled out of control. The violence is so severe that the 2025 homicide rate surged 31% year on year to an all-time high of 50.9 murders per 100,000 head of population.
  
  A massive surge in the volume of cocaine being shipped from Ecuador, once considered an island of tranquility in South America's violent northern Andes region, is the primary catalyst for the surge in conflict. Located between Colombia and Peru, the world's largest cocaine producers, Ecuador is an ideal transshipment hub due to its strategic location and extensive port infrastructure. Soaring demand for cocaine, now the world's fastest-growing illegal drug market, drives tremendous profits, making trafficking a highly appealing activity despite significant risks.
  
  While much of the bloodshed is driven by criminal bands clashing over control of lucrative cocaine smuggling routes, other illicit economies are also rapidly expanding. One of the fastest-growing problems since 2022 is the theft of gasoline and other hydrocarbons from Ecuador's lengthy pipeline network, which was once a minor problem solely associated with neighboring Colombia, where it has blown out to gargantuan levels. Authorities currently estimate that around 20,000 gallons (76,000 liters) of fuel is stolen daily, costing Ecuador around $100 million annually.
  
  According to Reuters, illegal taps on Ecuador's fuel pipeline network soared from 32 incidents during 2022 to 773 for the first ten months of 2024, a whopping 24-fold increase. This was responsible for the government losing an estimated $215 million over that period. Since that article, the incidence of hydrocarbon theft has soared higher with a Ministry of National Defense September 2025 media release showing that 1,095 illegal taps were identified between January and August 2025, a stunning 34-fold increase from 2022.
  
  Quito's efforts to rein in hydrocarbon theft by cracking down on lawlessness and deploying a specialist police unit using drones to monitor pipelines are having a negligible effect. Hydrocarbon theft is expected to keep growing despite those measures. Ecuador's lengthy 1,600-mile (2,575-kilometer) pipeline network, which snakes its way through many remote regions on the Pacific coast and Amazon, is particularly vulnerable to sabotage and being tapped. Furthermore, communities in remote regions are hostile to Quito while many perceive hydrocarbon theft to be a victimless crime.
  
  Cocaine fueled bloodshed and lawlessness, which in recent years swept across Ecuador, is creating a fertile environment for illicit economies, like hydrocarbon theft, in which to thrive. Key criminal bands involved in the cocaine trade and responsible for spiraling violence, Los Tiguerones, Los Lobos, Los Choneros, and Los Gánsters, are heavily involved in hydrocarbon theft. This reflects the lucrative nature of the illicit activity, along with the pressing need for diesel to fuel the machinery that powers their investments in illegal mining, another booming illicit activity in Ecuador.
  
  Higher fuel prices after Noboa's controversial September 2025 decision to scrap a costly fuel subsidy, causing the price of diesel to soar by 56% overnight from $1.80 to $2.80 per gallon, are responsible for higher incidences of fuel theft. The activity will only be spurred on by the recent spike in oil prices triggered by U.S. and Israeli strikes on Iran. The international Brent benchmark soared by a stunning 84% since the start of 2026 to nearly $113 per barrel, which, with considerable uncertainty ahead, makes hydrocarbon theft a particularly lucrative activity.
  
  There is also the insatiable demand for gasoline in Colombia to consider. Tremendous volumes of that fuel are needed to manufacture cocaine, especially with production of the narcotic spiraling ever higher to new all-time highs. Around 75 gallons (284 liters) of gasoline is required to process the up to 400 kilograms of coca leaves used to manufacture one kilogram of cocaine hydrochloride. Tight Colombian government control of the purchase of large volumes of gasoline and soaring prices are forcing criminal structures to look for supplies elsewhere.
  
  Those developments, along with rapidly rising cocaine production, make smuggling gasoline a highly lucrative activity in Colombia. Surging demand for diesel due to the rapid expansion of the strife-torn country's illegal mining industry is also behind the soaring consumption of bootleg fuels. This, coupled with surging fuel prices, creates a considerable incentive for criminal bands to tap oil pipelines and extract the petroleum, which is then sent to rudimentary jungle laboratories for refining into primitive fuels.
  
  The crude fuel produced, called pategrillo, is widely used to power the heavy machinery used in illegal mining, which is a booming illicit economy with precious metals hitting record highs earlier this year. Pategrillo is regularly substituted for gasoline to extract the all-important alkaloid from coca leaves that is the vital precursor needed to manufacture cocaine. Petroleum theft from remote pipelines and distilling into crude gasoline in illicit jungle laboratories is a widespread problem, notably in the southern departments of Nariño and Putumayo, which border Ecuador.
  
  There are fears that as demand for gasoline grows to support soaring cocaine production, oil theft will become a major illicit activity in Ecuador. The country's two key petroleum pipelines, the SOTE and OCP facilities, pass through Ecuador's remote and rugged Amazonian region, making them vulnerable to illegal taps used for oil theft. The petroleum extracted can then be refined in nearby rudimentary jungle laboratories from where it can be smuggled into Colombia. It is also widely used to manufacture cocaine and power the heavy machinery utilized in illegal mining.
  
  Combating soaring hydrocarbon theft, including securing Ecuador's lengthy pipeline network, while cracking down on spiraling cocaine fueled violence, is costly. There are fears that the latest measures will place greater pressure on a cash-strapped Quito facing worsening fiscal headwinds. Despite the economy returning to growth, Quito's 2025 fiscal deficit blew out to over 5% of gross domestic product (GDP) because of substantially higher expenditures for security and law enforcement as well as a marked decline in oil revenues, which are falling because of plummeting petroleum production. Spiraling hydrocarbon theft will only further weaken Ecuador's financial position. Source: Oilprice.com
- 2026-03-31
  North Sea vs. Fuel Duty: The Political Fight Playing Out at UK Pumps
  Education Secretary Bridget Phillipson pushed back against cross-party calls to scrap the September fuel duty rise, saying the government will "take a view closer to the time." The planned hike would lift the current 52.95p-per-litre rate by reversing... Read more Education Secretary Bridget Phillipson pushed back against cross-party calls to scrap the September fuel duty rise, saying the government will "take a view closer to the time."
  The planned hike would lift the current 52.95p-per-litre rate by reversing a temporary 5p cut introduced in 2022 — the first fuel duty increase in 15 years.
  Conservatives, Reform UK and Lib Dems are all calling for the rise to be cancelled, with Kemi Badenoch pivoting to demands for renewed North Sea oil and gas drilling instead.
  manchester intersection with a train and buildings
  A Labour cabinet minister has pushed back against rallying calls for the government to hand petrol retailers some reprieve, stating there is “no need” to axe the planned hike in fuel duty.
  
  Education secretary Bridget Bridget Phillipson said on Sunday the government would “take a view closer to the time” on whether to press ahead with the controversial increase.
  
  The current main rate of fuel duty stands at 52.95p per litre, but includes a temporary 5p reduction introduced in 2022, which is scheduled to be reversed in stages starting in September 2026.
  
  September’s increase will mark the first rise to fuel duty in 15 years, which has been frozen since 2011 – apart from a 5p cut in 2022.
  
  “I’m not going to commit months ahead of time when there isn’t a need to act right now, because those protections remain in place,” Phillipson told Sky News.
  
  It comes as the industry awaits a ‘targeted’ support plan from Rachel Reeves, to help the poorest households deal with the shock of surging energy prices following the outbreak of war in Iran.
  
  Reeves has also pledged to crack down on “profiteering” among retailers amidst the energy crisis, but this has faced criticism from business leaders who have said the accusation lacks any foundation.
  
  Asda boss Allan Lieghton said there was “zero credibility” in ministers’ profiteering claims against retailers and said the campaign was a “waste of time”.
  
  He added: “Thankfully we’ve all got better things to do than play that particular political shenanigan game.”
  
  Badenoch calls for North Sea drilling
  
  An increase to fuel duty has sparked backlash from opposite benches with the Conservatives, Reform UK and Liberal Democrats all calling for the government to reverse the decision.
  
  Kemi Badenoch has doubles down on calls for the government to drill in the North Sea, instead of squeezing its fuel supply.
  
  Badenoch told Sky News: “Rushing out to say the Government should be rationing fuel, that’s not the first thing I would be doing.
  
  “The first thing they should do is start drilling our own oil and gas in the North Sea, it’s important for our energy security, our economic security, our national security – and they’re not doing that.”
  
  Sir Keir Starmer said during Prime Minister’s Questions that he doesn’t hold the legal capacity to approve fresh exploration of North Sea oil and gas fields, with the decision falling in the hands of net zero secretary Ed Miliband.
  
  “It’s absolutely clear that the quasi judicial [process] lies with secretary of state,” Starmer said.
  
  He added: “In the last four weeks, because we are on a fossil fuel rollercoaster, everyone is being held to ransom.
  
  Source: Oilprice.com
- 2026-03-31
  MABUX: Irregular fluctuations to previal in the Global bunker market on Mar. 31.
  The MABUX World Bunker Index — a composite benchmark reflecting daily prices for 380 HSFO, VLSFO, and MGO — maintained a firm upward trajectory on March 30, marking the second consecutive day of gains: 380 HSFO: USD/MT 820.06 (+43.53) VLSFO: USD/MT... Read more The MABUX World Bunker Index — a composite benchmark reflecting daily prices for 380 HSFO, VLSFO, and MGO — maintained a firm upward trajectory on March 30, marking the second consecutive day of gains:
  
  380 HSFO: USD/MT 820.06 (+43.53)
  VLSFO: USD/MT 953.82 (+35.78)
  MGO: USD/MT 1 664.93 (+65.79)
  
  As of Mar. 30, the MABUX Market Differential Index (MDI) — which monitors the spread between Market Bunker Prices (MBP) and the MABUX Digital Bunker Price Benchmark (DBP) – indicated the following developments across the key global hubs of Rotterdam, Singapore, Fujairah, and Houston, amid persistently high volatility:
  
  • HSFO segment: Singapore remained the only underpriced port, with the discount narrowing by $20.00. All other ports were overpriced: premiums declined by $10 in Rotterdam and $35 in Houston, while increasing by $26 in Fujairah. Notably, Rotterdam’s MDI approached the 100% correlation threshold between MBP and DBP.
  
  • VLSFO segment: Fujairah moved into the underpriced zone, joining Rotterdam and Singapore. Discount margins widened by $29 in Rotterdam, $18 in Singapore, and $37 in Fujairah. Houston remained the sole overpriced port, although its premium decreased by $17.
  
  • MGO LS segment: Houston shifted into the undercharge zone, becoming the only underpriced port in this category, with the discount expanding by $63. The remaining ports continued to be overpriced, with premiums increasing by $26 in Rotterdam, $63 in Singapore, and $143 in Fujairah.
  
  We expect the Global bunker market to enter a phase of irregular changes on Mar. 31: 380 HSFO: plus-minus 7–15 USD/MT, VLSFO: plus-minus 7–18 USD/MT, MGO LS: plus-minus 15–25 USD/MT.
  Source: MABUX

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