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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
692.50
-5.00
716.00
+8.00
Nov 5
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	692.50	-5.00	716.00	+8.00	Nov 5

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
439.78	-0.35	508.82	-1.38	805.85	+8.58	Nov 7

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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	402	412	-10	435	464	-29	716	780	-64	Nov 7
Singapore	385	408	-23	465	500	-35	740	773	-33	Nov 7
Fujairah	363	382	-19	462	490	-28	744	836	-92	Nov 7
Houston	410	389	+21	440	445	-5	705	738	-33	Nov 7

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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
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MABUX for Industry
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Latest News
- 2025-11-07
  C40 Cities rolls out initiative to boost financing for green port infrastructure
  City mayor network C40 Cities has introduced a sustainability-linked loan framework for ports around the world. C40 Cities estimates that ports worldwide will require about $1-2 trillion in investment through 2050 to deploy shore power systems and alternative... Read more City mayor network C40 Cities has introduced a sustainability-linked loan framework for ports around the world.
  C40 Cities estimates that ports worldwide will require about $1-2 trillion in investment through 2050 to deploy shore power systems and alternative fuel bunkering infrastructure.
  
  However, around $200 billion in sustainability-linked capital “remains untapped” because of technical and regulatory hurdles faced by port operators.
  
  To address these constraints, the coalition has launched an initiative aimed at widening access to sustainability-linked loans for port authorities, particularly in developing economies in the Global South, where financing constraints have slowed progress on decarbonisation.
  
  C40 Cities expect to use its network of nearly 100 cities and associated ports to offer “market guidance, capacity-building programmes, and direct access to finance for port authorities,” it said.
  
  Specifically, C40 Cities aims to:
  
  Mobilise $1 billion for green port infrastructure within three years
  Prepare more than 50 zero-emission port and shipping projects for investments by 2030
  Support 25-40% emissions cuts in participating port cities by 2035
  Improve financing access for ports in the Global South and Small Island States
  
  The International Finance Corporation (IFC) and the International Association of Ports and Harbors (IAPH) also support this initiative.
  
  “The initiative establishes the first global framework specifically tailored to deploy Sustainability-Linked Loans for port decarbonisation projects worldwide,” C40 Cities said.
  
  The initiative’s next steps include regional workshops and capacity-building programmes from next year. Source: ENGIИE
- 2025-11-07
  UAE's Khalifa port to offer LNG and LPG bunkering from 2028
  Khalifa is a deep-water port in the Persian Gulf, positioned on east–west shipping routes connecting Asia, Africa, Europe and the Middle East. AD Ports Group has signed two long-term agreements with UAE-based Nimex Terminals to develop what it describes... Read more Khalifa is a deep-water port in the Persian Gulf, positioned on east–west shipping routes connecting Asia, Africa, Europe and the Middle East.
  
  AD Ports Group has signed two long-term agreements with UAE-based Nimex Terminals to develop what it describes as the country’s “first private-sector” LNG and LPG terminal. The terminal will provide long-haul dual-fuel vessels with the infrastructure required to bunker LNG and LPG, the company said.
  
  The project will be developed in two phases over a five-year period, including 400,000 cbm of cryogenic LNG storage and 280,000 cbm of LPG storage.
  
  Under the agreement, AD Ports Group will develop the bunkering infrastructure, including dredging and jetty construction, and Nimex Terminals will develop storage, regasification and supply facilities.
  
  “Both terminals will serve as hubs for import, export, and transshipment operations, primarily catering to the growing demand from Asian markets,” AD Ports said.
  
  Initial operations are expected to begin by mid-2028, with full operations at the LNG terminal by 2031 and at the LPG terminal by 2033. Source: ENGIИE
- 2025-11-07
  Scorpio Tankers to renew MR tanker fleet with scrubber-equipped newbuilds
  Scorpio Tankers has announced it is to sell four of its 2014 built, scrubber-equipped MR product tankers and has agreed to purchase four scrubber-equipped MR newbuilding resales with deliveries in 2026 and 2027. In a statement issued yesterday (6 November),... Read more
- 2025-11-07
  US and Korean ports sign MoU to increase cooperation on green shipping corridors
  Busan Port Authority, the Northwest Seaport Alliance (NWSA), the Port of Tacoma, the Port of Seattle and Ulsan Port Authority have signed a Memorandum of Understanding (MoU) aimed at strengthening collaboration on green shipping corridors and driving... Read more
- 2025-11-07
  Seafarer training centre launches in China with focus on decarbonisation technologies
  Finnish technology group Wärtsilä and Sinocrew Maritime Services, a Chinese crew management and training provider, have inaugurated a new training centre equipped with simulation technology to prepare seafarers for decarbonisation technologies and alternative... Read more
- 2025-11-07
  Upswing in Suez Canal vessel transits after Sharm El-Sheikh peace summit
  In October, 229 vessels passed through the Suez Canal, which is the highest monthly figure since hostilities between Gaza and Israel intensified in October 2023, which impacted vessel operations in the Red Sea and Bab el-Mandeb region. The rise in... Read more
- 2025-11-07
  Ports of Melbourne and Tanjung Pelepas to collaborate on decarbonisation and alternative fuels
  The Port of Tanjung Pelepas (PTP), in Malaysia, and Australia’s Port of Melbourne have agreed to cooperate on decarbonising port operations, developing alternative fuel infrastructure and improving workforce inclusivity. The Memorandum of Understanding... Read more
- 2025-11-07
  Oil headed for second weekly loss amid lingering supply concerns
  Oil edged up on Friday following three days of declines on worries about excess supply and slowing demand in the U.S., though prices are set for a second weekly loss. Brent crude futures rose 28 cents, or 0.44%, to $63.66 a barrel at 0421 GMT. U.S. West... Read more Oil edged up on Friday following three days of declines on worries about excess supply and slowing demand in the U.S., though prices are set for a second weekly loss.
  Brent crude futures rose 28 cents, or 0.44%, to $63.66 a barrel at 0421 GMT. U.S. West Texas Intermediate crude was at $59.72 a barrel, up 29 cents, or 0.49%.
  Brent and WTI are set to fall about 2% this week, down for a second straight week, as major global producers increase output.
  The price drop is driven by a surprise 5.2 million-barrel U.S. inventory build that reignited oversupply fears, IG Markets analyst Tony Sycamore said.
  "This has been amplified by risk-aversion flows, bolstering the dollar and the ongoing U.S. government shutdown, which continues to cloud economic activity," he added.
  U.S. crude stocks rose more than expected on higher imports and reduced refining activity, while gasoline and distillate inventories declined, the Energy Information Administration said on Wednesday.
  Oil prices were also pressured by concerns about the effects of the longest government shutdown in the history of the U.S. on the broader economy.
  The Trump administration has ordered flight reductions at major airports due to a shortage of air traffic controllers, while private reports are pointing to a weaker U.S. labor market in October.
  The Organisation of the Petroleum Exporting Countries and its allies, also known as OPEC+, decided on Sunday to increase output slightly in December. However, the group also paused further increases for the first quarter of next year, wary of a supply glut.
  
  After the decision, Saudi Arabia - the world’s top exporter - sharply reduced prices for its crude for Asian buyers in December, in response to a well-supplied market.
  European and U.S. sanctions on Russia and Iran are also disrupting supplies to the world’s largest importers, China and India, providing some support for global markets.
  On Thursday, Swiss commodity trader Gunvor said it had withdrawn its proposal to buy the foreign assets of Russian energy company Lukoil after the U.S. Treasury called it Russia’s "puppet" and signaled Washington opposed the deal.
  "Gunvor scrapping its Lukoil assets purchase suggests the US is maintaining its maximum pressure campaign against Russia, and potential strict enforcement of sanctions on Rosneft and Lukoil," said Vandana Hari, founder of oil market analysis provider Vanda Insights.
  
  "The support is fragile ... the oversupply narrative will likely creep back as the key influence on sentiment," she added.
  Crude imports of China, the world’s largest oil importer, in October were up 2.3% from September and up 8.2% from a year earlier at 48.36 million tons, data from General Administration of Customs showed, amid high utilisation rates at the country’s refineries.
  Source: Reuters/Investing.com
- 2025-11-07
  $60 Oil Undercuts Trump’s ‘Drill, Baby, Drill’ Agenda
  “Drill, baby, drill” is not the central theme in the U.S. shale patch despite President Donald Trump’s best efforts to back the American oil and gas industry with eased permitting and reversal of climate and export-restricting policies. Most U.S.... Read more “Drill, baby, drill” is not the central theme in the U.S. shale patch despite President Donald Trump’s best efforts to back the American oil and gas industry with eased permitting and reversal of climate and export-restricting policies.
  
  Most U.S. oil and gas producers are boosting production through consolidation and efficiency gains, instead of drilling additional wells. Many rely on drilled but uncompleted wells (DUCs) to raise output as the U.S. benchmark oil price has dipped by about 15% since President Trump’s inauguration in January.
  
  The regulatory and permitting climate has rarely been so favorable for the oil industry, after President Trump rescinded many of Biden’s energy policies to allow again massive federal oil and gas lease sales, open the Arctic National Wildlife Refuge’s coastal plain in Alaska to drilling, and lift a moratorium on new LNG export project approvals.
  
  However, the oil market and oil price reality this year is not in favor of “drill, baby, drill.”
  
  No Drill, Baby, Drill
  
  True, U.S. oil production has continued to grow to record highs this year, as output lags the global price moves with several months, and producers bet on efficiency and selective capital allocation to preserve value for shareholders at oil prices that are very close to, or even below, their breakeven price to profitably drill a new well.
  
  Drilling activity is slipping, with the total rig count now down to 546, according to Baker Hughes, a decline of 39 rigs from this same time last year.
  
  At the current price of oil, shale will stagnate or start to decline, industry executives say, while shale producers look to do more with less by raising efficiency in production and capital allocation.
  
  “Fundamentally, the short-term market is a little bearish,” Patrick Pouyanne, the chief executive of supermajor TotalEnergies, said at the Energy Intelligence forum last month.
  
  “There is a point at $60 per barrel where we'll see the shale industry beginning to slow down,” Pouyanne said on the sidelines of the forum.
  
  ConocoPhillips chairman and CEO Ryan Lance said that “At $60-$65 a barrel WTI oil prices, the US is probably plateau-ish.”
  
  U.S. oil output could grow by between 300,000 barrels per day (bpd) and 400,000 bpd this year, Lance said.
  
  “But if prices stay at $60 or go into the $50s, you probably are plateauing or slightly declining,” the executive added. WTI prices have traded just below or just above $60 per barrel in recent weeks, weighed down by forecasts of a major oversupply hitting the market within weeks.
  
  Kaes Van't Hof, CEO and Director at Diamondback Energy, this week told shareholders in his quarterly letter that the company, which is color-coding its activity levels to the colors of a stoplight, remains in the “yellow” zone today, while retaining all operational flexibility for green or red.”
  
  The estimates of the looming oversupply range from less than 500,000 bpd at OPEC to nearly 4 million bpd at the International Energy Agency (IEA).
  
  “As they say in Texas, ‘you could drive a truck between those two numbers’. Our best guess on the amount of oversupply lies somewhere in between, with our inherent cognitive bias leaning to support OPEC’s forecast. We also recognize we are unlikely to see positive price signals until this debate is resolved,” Van't Hof wrote.
  
  “Against this backdrop, we firmly believe there is no need for incremental oil barrels until there is a proper price signal,” the executive added.
  
  “Until that time, we will put our head down and continue to work to lower our industry-leading oil price breakeven, reinvestment rate and cost structure so we can maximize Free Cash Flow to pay our dividend, buy back shares and pay down debt.”
  
  Price Signal Outweighs Trump’s Support
  
  For the U.S. oil and gas producers, the Trump Administration’s favorable policy is not the key driver of capital allocation and drilling activity. It’s the price of oil.
  
  “In a word, ‘drill baby drill’ has been a flop,” Dan Pickering, chief investment officer at Houston-based Pickering Energy Partners, told the Financial Times.
  
  “The industry is driven by economics and right now, the economics don’t justify accelerating production,” Pickering added.
  
  While the American oil industry has praised the eased regulatory burden and the U.S. energy dominance policy of the Trump Administration, it has been rattled by the trade and tariff uncertainty and the President’s insistence that energy prices should be lowered.
  
  Related: Ukrainian Strike Shuts Key Lukoil Refinery As Sanctions Weigh on Russia
  
  “The U.S. shale business is broken,” an executive at an exploration and production company wrote in comments to the latest Dallas Fed Energy Survey in September.
  
  “What was once the world’s most dynamic energy engine has been gutted by political hostility and economic ignorance.”
  
  The previous administration vilified the industry and cheered when Wall Street walked away from shale, they added, but noted that “Now the current administration is finishing the job.”
  
  “Guided by a U.S. Department of Energy that tells them what they want to hear instead of hard facts, they operate with little understanding of shale economics,” the executive said.
  
  “Instead of supporting domestic production, they’ve effectively aligned with OPEC—using supply tactics to push prices below economic thresholds, kneecapping U.S. producers in the process.” Source: Oilprice.com
- 2025-11-07
  Saudi Arabia's Vision 2030 Has Sparked a Massive Renewable Energy Push
  Saudi Arabia’s Vision 2030 national development strategy establishes the aim of economic diversification, as the government seeks to reduce its reliance on fossil fuel revenues by expanding other economic sectors. In addition to drawing revenue from growing... Read more Saudi Arabia’s Vision 2030 national development strategy establishes the aim of economic diversification, as the government seeks to reduce its reliance on fossil fuel revenues by expanding other economic sectors. In addition to drawing revenue from growing industries, such as construction, ICT, and tourism, the government is encouraging greater energy diversification to boost the country’s long-term energy security.
  
  Saudi Arabia built its wealth on oil, and it remains the second-biggest oil-producing country in the world, with an output of over 12 million bpd of crude. The Middle Eastern state has proven reserves of 266.5 billion barrels of oil, suggesting that it could continue pumping fossil fuels for decades to come. However, as part of its aim to reduce reliance on fossil fuel revenues, Saudi Arabia has been investing heavily in developing its other energy sectors in recent years.
  
  The government of Saudi Arabia has been working with the United Nations Development Programme for around two decades, in a bid to develop a sustainable, long-term renewable energy strategy. It developed a $100-million National Energy Efficiency Programme and launched the Saudi Energy Efficiency Centre. The Kingdom aims to achieve 50 percent renewable electricity by 2030, or 130 GW of capacity, and reach net-zero carbon emissions by 2060.
  
  The solar energy sector has expanded rapidly in recent years, following the launch of the first large-scale, grid-connected utility 300-MW solar PV project, Sakaka PV, in November 2019, developed by ACWA Power. Saudi Arabia now has 10.2 GW of renewable capacity connected to the grid, as well as more than 33 GW in various stages of development. It aims to tender an additional 20 GW of renewable energy annually through 2030 to reach its diversification targets.
  
  To support its solar energy sector, Saudi Arabia is investing in the rollout of large-scale battery energy storage systems (BESS), with 8GWh (2GW) of capacity already operational. A further 22 GWh (5.5 GW) of BESS is currently under development, which will support the meeting of a national target for 48 GWh of storage capacity by 2030. Other sectors being developed include wind energy, geothermal power, and green hydrogen.
  
  The government’s futuristic mega-project, the $9 trillion NEOM, will be a major driver of green energy deployment. The NEOM green hydrogen project is expected to become the largest utility-scale commercially based hydrogen facility powered by renewable energy in the world. The $8.4 billion project will include 3.9 GW of green power from solar, wind, and BESS and is expected to produce 600 tonnes per day of clean hydrogen once operational. The government aims to power the entire NEOM mega-project using a variety of renewable energies.
  
  In October, the Saudi Power Procurement Company (SPPC) announced it had awarded five renewable energy projects with a total capacity of 4.5 GW, with a value of over $2.4 billion. The projects were awarded to the UAE renewable energy company Masdar and the French companies TotalEnergies and EDF, among others.
  
  The projects include Masdar’s 1.4 GW Najran Solar Energy Project and 600 MW Ad Darb Solar Plant; Saudi Electricity Company and EDF’s 600 MW Samtah Solar Plant; Al Jomaih Energy and Water Company and TotalEnergies’ 400 MW Sufun Solar Plant, and the 1.5 GW Dawadmi Wind Energy Project in Riyadh province from Korea Electric Power Corporation, Nesma Renewable Energy Company and Ajman’s Etihad Water and Electricity Company.
  
  The accelerated development of Saudi Arabia’s IT sector has also helped it to grow its non-oil industries through a greater openness to innovative technologies, such as artificial intelligence (AI). Saudi Arabia’s Vision 2030 promotes a strategy of digitalisation across all sectors, which has attracted the interest of investors worldwide. The Kingdom is expected to develop data centres “at a scale and at a competitive cost not achieved anywhere else,” according to the country’s Investment Minister Khalid Al Falih. “AI has emerged [in] the last three, four years, and it’s definitely going to define the future economy of every nation. Those who invest will lead, and those who lag behind, unfortunately, will lose,” stressed Al Falih.
  
  Saudi Arabia has experienced unprecedented success with its economic diversification project over the last decade. Around 50.6 percent of the Saudi economy is now “completely decoupled” from oil, according to Al Falih. Meanwhile, in 2024, the Kingdom announced a 1.3 percent increase in annual GDP, driven by 4.3 percent growth in non-oil segments.
  
  Saudi Arabia’s economic diversification strategy has gone from strength to strength in recent years, as the government has used the country’s sovereign wealth fund – the Public Investment Fund – to invest in a wide variety of industries to attract higher levels of private investment. The Kingdom has begun to develop its renewable energy sector, with green energy capacity expected to grow at an accelerated rate over the next decade. This will be supported by greater digitalisation and an openness to innovative technologies. Source: Oilprice.com

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