Mabux: Global Bunker Prices

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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
762.50
+40.00
622.00
+4.00
Apr 25
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	762.50	+40.00	622.00	+4.00	Apr 25

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
467.17	+0.71	539.54	+0.64	728.73	+1.36	Apr 25

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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	422	425	-3	459	484	-25	622	610	+12	Apr 25
Singapore	441	435	+6	502	521	-19	614	643	-29	Apr 25
Fujairah	429	473	-44	493	528	-35	709	796	-87	Apr 25
Houston	399	442	-43	469	555	-86	620	669	-49	Apr 25

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Analytical Section
- Daily and Weekly Bunker analyses and Future Curves
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MABUX for Industry
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Latest News
- 2025-04-25
  Oil posts weekly fall on tariff worry and rising supplies
  Oil prices edged higher on Friday but posted a weekly decline, under pressure from market expectations of oversupply and uncertainty around tariff talks between the U.S. and China. Brent crude futures settled 32 cents higher at $66.87 a barrel, taking... Read more Oil prices edged higher on Friday but posted a weekly decline, under pressure from market expectations of oversupply and uncertainty around tariff talks between the U.S. and China.
  Brent crude futures settled 32 cents higher at $66.87 a barrel, taking losses to 1.6% over the week. U.S. West Texas Intermediate crude gained 23 cents to $63.02 a barrel, marking a weekly decline of 2.6%.
  China exempted some U.S. imports from its steep tariffs in a sign on Friday that the trade war between the world’s top two economies could be easing, though Beijing quickly knocked down U.S. President Donald Trump’s assertion that negotiations were underway.
  "Traders now view further (crude price) gains as unlikely in the short term due to the continued trade war among top global consumers and speculation that OPEC+ may accelerate production hikes from June," Saxo Bank analyst Ole Hansen said.
  Oil prices fell earlier this month to four-year lows after tariffs sparked investor concern about global demand and a selloff in financial markets.
  While the risk is that a weaker economy will erode demand, supplies could swell.
  Several OPEC+ members have suggested the group accelerate oil output increases for a second month in June, Reuters reported earlier this week.
  An end to the war in Ukraine also has the potential to add to supplies if it allows more Russian oil to reach global markets.
  
  A three-hour meeting on Friday between Russian President Vladimir Putin and Trump envoy Steve Witkoff was constructive and narrowed differences when it came to ending the war in Ukraine, Kremlin aide Yuri Ushakov said.
  
  In an indication of future supply, the number of oil-directed drilling rigs rose by 2 to 483 in the week to April 25, data from oil services firm Baker Hughes (NASDAQ:BKR) showed on Friday.
  Source: Reuters/Investing.com
- 2025-04-25
  AMERICAS: CMA CGM TAKES CONTROLLING STAKE IN TERMINAL OPERATOR SANTOS BRASIL
  CMA CGM Group has become the majority shareholder of Santos Brasil Participações S/A, which owns South America’s largest container terminal, located in the Brazilian port of Santos. In a statement issued yesterday (24 April), CMA CGM announced that... Read more
- 2025-04-25
  EUROPE: AXPO EXPANDS ITS SPANISH LNG BUNKERING OPERATIONS TO ALGECIRAS
  Axpo has informed Bunkerspot that it has expanded its ship-to-ship LNG bunkering operations to a second Spanish port, following the delivery of 5,000 cubic metres (cbm) of LNG to the MSC vessel Mariacristina in Algeciras. The delivery was made using... Read more
- 2025-04-25
  ASIA PACIFIC: SWIRE SHIPPING INTRODUCES BIOFUELS ON SOUTH PACIFIC TRADES
  Three Swire Shipping vessels operating on South Pacific routes have switched to using B24 and B30 second generation biofuel blends. The three vessels involved in the biofuel programme are Apia Chief and Tonga Chief on the Pacific Weekly Express (PWX)... Read more
- 2025-04-25
  ASIA PACIFIC: ULSAN LOOKING TO BECOME ‘NORTHEAST ASIA'S PREMIER BIOFUEL BUNKERING DESTINATION’
  Speaking at a forum in Seoul yesterday (23 April), senior representatives from Ulsan Port Authority (UPA) set out their plans to their plans to turn the Korean maritime hub into ‘Northeast Asia’s premier biofuel bunkering destination’. UPA President... Read more
- 2025-04-25
  GLOBAL: LR ADDS BIOFUELS TO GLOBAL FUEL FINDER
  Lloyd’s Register (LR) has added information on biofuel availability and quality to its Global Fuel Finder platform. Developed by LR’s Fuel Oil Bunkering Analysis and Advisory Service (FOBAS), the Fuel Finder tool now allows users to search, compare... Read more
- 2025-04-25
  Oil prices set for weekly loss on potential for more global supply
  Oil prices edged higher on Friday but were on track for a weekly loss as a potential OPEC+ output increase and a possible ceasefire in the Russia-Ukraine war may raise supply at the same time conflicting U.S. tariff signals limit the demand outlook. Brent... Read more Oil prices edged higher on Friday but were on track for a weekly loss as a potential OPEC+ output increase and a possible ceasefire in the Russia-Ukraine war may raise supply at the same time conflicting U.S. tariff signals limit the demand outlook.
  Brent crude futures gained 5 cents to $66.60 a barrel by 0001 GMT, on track to fall 2% for the week.
  U.S. West Texas Intermediate (WTI) crude rose 6 cents to $62.85 a barrel but was set to decline 2.9% for the week.
  The United States and Russia are moving in the right direction to end the war in Ukraine, but some specific elements of a deal remain to be agreed, Russian Foreign Minister Sergey Lavrov said in an interview with CBS News.
  A halt to Russia’s war in Ukraine and the easing of sanctions against them could allow more Russian oil to flow to global markets. Russia, a member of the OPEC+ group that includes the Organization of Petroleum Exporting Countries, is one of the world’s biggest oil producers along with the U.S. and Saudi Arabia.
  On Thursday, Trump criticized Russian President Vladimir Putin after Russia pounded Kyiv with missiles and drones overnight, saying "Vladimir, STOP!"
  Also potentially adding to global supply, several OPEC+ members had suggested the group accelerate oil output increases for a second month in June, Reuters reported earlier this week.
  And Iranian Foreign Minister Abbas Araqchi said on Thursday he was ready to travel to Europe for talks on Tehran’s nuclear program.
  
  Successful talks with Europe and the U.S. would likely result in the lifting of sanctions on Iranian oil exports. Iran is the third-biggest oil producer in OPEC behind Saudi Arabia and Iraq.
  
  Still the demand outlook remains cloudy amid the trade war between China and the U.S., the world’s two largest oil consumers.
  Businesses are increasing prices and cutting financial guidance due to higher costs stemming from the trade war, which has also roiled global supply chains and has prompted concerns of a global economic slowdown that could hit oil demand.
  Source: Reuters/Investing.com
- 2025-04-25
  MABUX: Global bunker market to return to modest upward trajectory on Apr.25.
  The MABUX World Bunker Index—a composite index reflecting current prices for 380 HSFO, VLSFO, and MGO—resumed a slight downward trend on April 24: 380 HSFO - USD/MT - 466.46 (-3.74) VLSFO - USD/MT – 538.90 (-3.59) MGO - USD/MT – 727.37 (-3.53) As... Read more The MABUX World Bunker Index—a composite index reflecting current prices for 380 HSFO, VLSFO, and MGO—resumed a slight downward trend on April 24:
  
  380 HSFO - USD/MT - 466.46 (-3.74)
  VLSFO - USD/MT – 538.90 (-3.59)
  MGO - USD/MT – 727.37 (-3.53)
  
  As of Apr.24, the MABUX Market Differential Index (MDI), tracking the correlation between market bunker prices (MBP) and the MABUX Digital Bunker Price Benchmark (DBP), indicated the following pricing trends across key global ports: Rotterdam, Singapore, Fujairah, and Houston:
  
  • HSFO segment: Rotterdam shifted into the overcharge zone, joining Singapore. The price premium increased by $4 in Rotterdam and decreased by $3 in Singapore. Fujairah and Houston remained underpriced, with discounts narrowing by $2 and $4, respectively. Both Rotterdam and Singapore maintained a correlation close to 100% between MBP and DBP.
  
  • VLSFO segment: All four ports continued to be undercharged. The underpricing gap narrowed by $6 in Rotterdam, $3 in both Singapore and Fujairah, and $5 in Houston.
  
  • MGO LS segment: Rotterdam was the only port in this segment showing overpricing, with the premium rising by $6. Singapore, Fujairah, and Houston continued to be undercharged, with discounts narrowing by $5, $4, and $4, respectively.
  
  We expect Global bunker indices to return to a slight upward movement on Apr.25: 380 HSFO –plus 1-3 USD/MT, VLSFO - plus 2-4 USD/MT, MGO LS – plus 2-5 USD/MT.
  Source: MABUX
- 2025-04-25
  Trump Emergency Order Accelerates Oil and Gas Permitting
  The Trump administration has shortened the approval procedure for new oil and gas projects to just 28 days—at most—from several years under the national energy emergency that the White House declared earlier this year. The new “emergency permitting... Read more The Trump administration has shortened the approval procedure for new oil and gas projects to just 28 days—at most—from several years under the national energy emergency that the White House declared earlier this year.
  
  The new “emergency permitting procedures”, per the Department of the Interior, will cover not just oil and gas but uranium and critical minerals as well. The full list also includes coal, biofuels, geothermal energy, and kinetic hydropower.
  
  “The United States cannot afford to wait,” Secretary of the Interior Doug Burgum said. “President Trump has made it clear that our energy security is national security, and these emergency procedures reflect our unwavering commitment to protecting both.”
  
  “We are cutting through unnecessary delays to fast-track the development of American energy and critical minerals—resources that are essential to our economy, our military readiness, and our global competitiveness,” Burgum also said.
  
  The Trump administration’s focus on developing all energy segments with the exception of wind has frustrated the transition advocacy and technology sector considerably, with Reuters reporting the climate NGO industry was already hiring lawyers to take the fight over hydrocarbons and climate regulations to court.
  
  “They really are kicking it into high gear now,” Dan Goldbeck, director of regulatory policy at conservative think tank American Action Forum, told Reuters. “They are trying to push some of these legal doctrines a bit to see if they can implement a new policy framework.”
  
  The publication noted that most of the Trump administration’s moves in the energy area test the limits of the Administrative Procedure Act from 1946, which stipulates that federal agencies must publish notices of regulatory proposals and final regulations, and include an option for public comments on these. This may well be the reason why President Trump is using the emergency option to pass relevant regulatory changes. Source: Oilprice.com
- 2025-04-25
  Shale Slowdown? Halliburton Sounds the Alarm
  The heightened oil market and macroeconomic uncertainties in recent weeks are baffling not only analysts. Halliburton, the oilfield services giant with the highest exposure to the U.S. fracking market, has just warned investors that its U.S. customers... Read more The heightened oil market and macroeconomic uncertainties in recent weeks are baffling not only analysts. Halliburton, the oilfield services giant with the highest exposure to the U.S. fracking market, has just warned investors that its U.S. customers are re-evaluating drilling activity plans for 2025.
  
  “Looking forward, many of our customers are in the midst of evaluating their activity scenarios and plans for 2025,” Halliburton’s chairman, president, and CEO, Jeff Miller, said on the first-quarter earnings call this week.
  
  Halliburton reported Q1 revenues, beating analyst expectations. Earnings, excluding a pre-tax charge of $356 million, were in line with estimates.
  
  However, North America revenue in the first quarter of 2025 fell by 12% from a year earlier to $2.2 billion. Halliburton said the decline was primarily driven by lower stimulation activity in U.S. onshore operations and decreased completion tool sales in the Gulf of Mexico.
  
  International revenue also fell, but only slightly, by 2% versus the first quarter of 2024.
  
  Analysts were closely watching Halliburton’s Q1 figures – which kicked off the earnings reporting season of the big oilfield services providers – for clues about where North America drilling is heading amid uncertainties about the economy and the willingness of oil producers to keep drilling activity levels as U.S. benchmark oil prices fell into the low $60s per barrel.
  
  Related: Mexico’s New Refinery Ships First Cargo of Ultra-Low Sulfur Diesel
  
  The macroeconomic uncertainty, the cost of equipment with the Trump Administration’s tariffs, and the oil prices barely at breakeven levels at some fields and wells have prompted analysts to lower their estimates of U.S. oil production growth this year and next.
  
  “Activity reductions could mean higher than normal white space for committed fleets, and, in some cases, the retirement or export of fleets to international markets,” Halliburton’s Miller said on the earnings call.
  
  “The last three weeks have been highly dynamic as the trade environment injected uncertainty into markets, raised broad economic concerns, and along with faster than expected return of OPEC production weighed on commodity prices,” the executive added.
  
  Apart from heightened macro and oil price uncertainties, Halliburton flagged it would be hit by the U.S. tariff policies—in the region of $0.02 to $0.03 per share impact on the earnings per share for the second quarter of the year.
  
  “We are doing a lot of work on mitigating the impact of tariffs. We have a well diversified supply chain,” Eric Carre, Executive Vice President and Chief Financial Officer at Halliburton, said on the earnings call.
  
  “We have a lot of levers we can pull. But really, to be more clear in terms of the overall impact, we need a bit more clarity and stability in the structure of tariffs, so that we can really understand what levers we can pull and then what the overall outcome is going to be,” the executive added.
  
  “So there’s just a lot of moving parts right now. And I think we’ll be able to give you more color in three months from now.”
  
  Halliburton’s warnings about uncertain drilling plans by U.S. onshore producers, the impact of the tariffs, and concerns about the macro environment sent its shares plunging by 5.5% at close on Tuesday in New York.
  
  While public statements from the U.S. oil lobby and oil producers welcome President Donald Trump’s rollback of regulations and eased permitting processes, executives are privately fuming about the administration’s perceived target to bring oil prices down to $50 a barrel.
  
  U.S. Energy Secretary Chris Wright, the former boss at fracking firm Liberty Energy, remains bullish on U.S. oil production—and believes that the industry will not only survive but thrive even with oil at $60 or below.
  
  Yet, the industry begs to differ—at least that’s what executives wrote anonymously in March in comments to the quarterly Dallas Fed Energy Survey for the first quarter.
  
  “There cannot be "U.S. energy dominance" and $50 per barrel oil; those two statements are contradictory. At $50-per-barrel oil, we will see U.S. oil production start to decline immediately and likely significantly (1 million barrels per day plus within a couple quarters),” an executive at an exploration and production firm said.
  
  Another executive put it even more bluntly, “The administration’s chaos is a disaster for the commodity markets. "Drill, baby, drill" is nothing short of a myth and populist rallying cry. Tariff policy is impossible for us to predict and doesn't have a clear goal. We want more stability.”
  
  Stability and clarity are what Halliburton’s executives say they need to assess how the oilfield services giant should approach the new market realities. Source: Oilprice.com