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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
885.02
0.00
644.00
+2.00
Dec 10
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	885.02	0.00	644.00	+2.00	Dec 10

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
510.99	+4.00	585.07	+3.32	745.93	+1.89	Dec 10

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MBP INDEX vs DBP INDEX (ICE/NYMEX)

All Indexes in $/mton	380HSFO			VLS FO			MGO LS			Date
All Indexes in $/mton	MBP Index	DBP Index	Diff	MBP Index	DBP Index	Diff	MBP Index	DBP Index	Diff	Date
Rotterdam	450	456	-6	503	548	-45	644	748	-104	Dec 10
Singapore	451	477	-26	541	550	-9	662	757	-95	Dec 10
Fujairah	437	487	-50	528	542	-14	742	805	-63	Dec 10
Houston	437	450	-13	540	567	-27	656	670	-14	Dec 10

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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
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MABUX for Industry
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Latest News
- 2024-12-10
  Oil prices steady as Syria concerns ease and China stimulus supports
  Oil prices were little changed on Tuesday as concerns eased about the fallout from the overthrow of Syria's president while the market found support from Chinese stimulus that could boost demand from the world's biggest crude buyer. Brent crude futures... Read more Oil prices were little changed on Tuesday as concerns eased about the fallout from the overthrow of Syria's president while the market found support from Chinese stimulus that could boost demand from the world's biggest crude buyer.
  Brent crude futures were down only 1 cent, or 0.01%, to $72.13 a barrel at 1408 GMT. U.S. West Texas Intermediate was up 11 cents, or 0.16%, at $68.48. Both benchmarks had risen more than 1% on Monday.
  In Syria, rebels were working to form a government and restore order after the ousting of President Bashar al-Assad, with the country's banks and oil sector set to resume work on Tuesday.
  "The tensions in the Middle East seem contained, which led market participants to price for potentially low risks of a wider regional spillover leading to significant oil supply disruption," said IG market strategist Yeap Jun Rong.
  While Syria itself is not a major oil producer, it is strategically located and has had strong ties with Russia and Iran.
  The power transfer, which followed 13 years of civil war and brought an end to more than 50 years of brutal rule by the Assad family, raised concerns over regional instability.
  Oil prices could receive a boost if the U.S. Federal Reserve comes through with an expected 25 basis point cut to interest rates when it meets over Dec. 17-18. That could juice oil demand in the world's biggest economy, though traders are waiting to see if this week's inflation data derails the cut.
  
  Support also came from reports that China will adopt "appropriately loose" monetary policy in 2025 as Beijing tries to spur economic growth. This would be the first easing of its stance in 14 years, though details remain thin.
  Chinese crude imports also grew annually for the first time in seven months, jumping in November from a year earlier.
  The increase, however, "was more a function of stockpiling than demand improvement", said Tamas Varga of oil broker PVM.
  "The economy will only be stimulated by improving consumer sentiment and spending, by a rise in domestic aggregate demand echoed in a healthy increase in consumer inflation," he added. Source: Reuters/Investing.com
- 2024-12-10
  GLOBAL: GREEN FUEL AVAILABILITY IS BIGGEST HURDLE TO NET ZERO, SAYS HAPAG-LLOYD CEO
  Boss of German shipping giant stresses that there will be significantly more ships that can sail on green fuels than there will be green fuels available around the turn of the decade. Answering questions from industry guests in a live virtual session... Read more
- 2024-12-10
  EUROPE: OPEN LOOP SCRUBBER BAN SET TO TAKE EFFECT IN AMSTERDAM
  The Port of Amsterdam has published details of a decree that will prohibit the use of open loop exhaust gas cleaning systems (EGCS) by seagoing vessels at berth within the municipality of Amsterdam. The ban will come into effect upon publication in... Read more
- 2024-12-10
  EUROPE: LR GRANTS AIP TO GTT FOR FUEL-EFFICIENT LNG CARRIER DESIGN
  Lloyd’s Register (LR) tells Bunkerspot that fuel efficiencies in the vessel design have been achieved by increasing cargo capacity, cutting vessel speed, and retaining LNG annual volumes. The Approval in Principle (AiP) was announced on 5 December,... Read more
- 2024-12-10
  EUROPE: SYROCO RAISES €7.5 MILLION TO ACCELERATE R&D AND COMMERCIAL DEPLOYMENT OF WEATHER ROUTING SYSTEM
  Tech startup Syroco, which provides AI-powered weather routing software, has announced the completion of a €7.5 million Series A funding round, led by French investors alter equity and Seventure Partners. In a statement published today (9 December),... Read more
- 2024-12-10
  GLOBAL: MAN ES COMPLETES METHANOL RETROFIT OF MAERSK HALIFAX
  MAN Energy Solutions (MAN ES) says that the retrofit of the main engine of the very large container vessel, Maersk Halifax, offers a ‘blueprint for future projects.’ The retrofit, which was undertaken by MAN PrimeServ, is said to be the world’s first... Read more
- 2024-12-10
  Oil prices ease, but China policy stance checks losses
  Oil prices slipped on Tuesday as concerns eased about the fallout from Syrian President Bashar al-Assad's overthrow, but the market found support in China's vow to ramp up policy stimulus, which could boost the top global crude buyer's demand. Brent... Read more Oil prices slipped on Tuesday as concerns eased about the fallout from Syrian President Bashar al-Assad's overthrow, but the market found support in China's vow to ramp up policy stimulus, which could boost the top global crude buyer's demand.
  Brent crude futures were down 32 cents, or about 0.4%, at $71.82 per barrel. U.S. West Texas Intermediate crude futures were down 37 cents, 0.5% lower, at $68 at 0458 GMT. Both benchmarks climbed more than 1% on Monday.
  "The tensions in the Middle East seem contained, which led market participants to price for potentially low risks of a wider regional spillover leading to significant oil supply disruption," said IG market strategist Yeap Jun Rong.
  Syria's rebels were working to form a government, restore order after Assad ouster with the country's banks and oil sector set to resume work on Tuesday.
  While Syria itself is not a major oil producer, it is strategically located and has strong ties with Russia and Iran, and regime change could raise regional instability.
  The power transfer followed 13 years of civil war and brought an end to over 50 years of brutal rule by the Assad family.
  The market is also focused on the likelihood of a rate cut by the U.S. Federal Reserve next week, which could boost oil demand in the world's biggest economy.
  The Fed is expected to cut rates by 25 basis points at the conclusion of its meeting on Dec. 17-18, but traders are waiting to see if inflation data this week could derail that outlook.
  
  "Oil markets have been a function of demand more than supply-side narratives this year and as a result, investors are hesitant to take speculative positions in oil ahead of key policy decisions from the Fed," said Phillip Nova senior market analyst Priyanka Sachdeva.
  Declines were capped by positive expectations on China's economy, following reports that China will adopt an "appropriately loose" monetary policy next year - the first easing of its stance in some 14 years, to spur economic growth in the world's top oil importer.
  While market hopes are high for aggressive policy stimulus, oil price gains may be limited until there is more clarity on what impact Beijing's measures will have on the country's crude demand outlook, IG's Yeap said.
  In a positive sign, China's crude oil imports jumped in November from a year earlier in the first annual growth in seven months, data showed on Tuesday, as lower prices of Middle East supplies and stockpiling demand boosted buying.
  Source: Reuters/Investing.com
- 2024-12-10
  Political Turmoil in France Could Worsen Europe’s Energy Problems
  Europe’s natural gas and power prices are rallying again as the proper heating season begins, adding to concerns that a new energy crisis is brewing. The political turmoil in the top European electricity exporter and second-largest economy, France,... Read more Europe’s natural gas and power prices are rallying again as the proper heating season begins, adding to concerns that a new energy crisis is brewing.
  
  The political turmoil in the top European electricity exporter and second-largest economy, France, certainly is not helping.
  
  A prolonged government crisis after the ousting of Prime Minister Michel Barnier last week could result in reduced electricity exports from France to its interconnected markets, including Germany and Italy, Reuters market analyst Gavin Maguire argues.
  
  This would be another layer of energy shock for European markets, which have been grappling with rising electricity and natural gas prices in recent weeks.
  
  The rising budget deficit and the possibility of a no budget for 2025 could lead to politicians in France looking to curb the high French electricity exports, according to Reuters’s Maguire.
  
  Considering that France is Europe’s top exporter of electricity, this would have repercussions on the power markets and prices across Europe.
  
  With the fall of the government, any improvement of France’s public finances will now be postponed until a new government is formed, ING analysts said last week.
  
  As a state-owned firm, France’s electricity giant EDF has contributed to the country’s piling public debt.
  
  But EDF’s large nuclear reactor fleet that provides around 70% of France’s power and the rebound in hydropower generation have allowed France to boost its electricity exports this year.
  
  “Buoyed by strong nuclear and hydroelectric output, France has exported record amounts of electricity to neighboring countries this year, despite limitations on eastern interconnections that restricted exports in the spring,” energy firm Engie said in its semi-annual briefing on the European energy market in September.
  
  Electricity demand in France remains below 2020 levels, partly due to a loss of industrial output and competitiveness and consumer energy-saving efforts, Engie said, noting that demand has rebounded more quickly in Germany, the UK, Belgium, and the Netherlands.
  
  France’s net exports of electricity are set to hit a record high in 2024, data from French grid operator RTE shows. That’s because maintenance on many nuclear reactors has been completed, and hydropower generation has rebounded.
  
  There is no imminent threat to France’s huge power exports. Yet, the political instability in Europe’s largest net electricity exporter makes the European power markets even more nervous.
  
  Europe’s industry is set to lose further competitiveness as high energy prices, rising natural gas prices, and concerns about gas supply this winter are increasing uncertainty about factory utilization amid rising costs.
  
  European benchmark natural gas prices are hovering around a one-year high hit last month as cold snaps in November dashed hopes and prayers of a third relatively mild winter in a row.
  
  In recent weeks, Europe has been depleting its natural gas stocks at the fastest pace since 2016 as demand has increased with the colder temperatures.
  
  This adds to the looming end of Russian pipeline gas supply to Europe via Ukraine after December 31 and growing competition for spot LNG supply with Asia for winter demand.
  
  This winter could inflict more pain on industries relying on natural gas and force curtailments in production, analysts and industry executives have told Reuters.
  
  The much higher energy costs in Europe are putting its industries at a disadvantage compared to the U.S., Asia, or the Middle East.
  
  For example, the current Dutch hub price is almost five times higher than the benchmark U.S. natural gas price at Henry Hub.
  
  The highest spot-based electricity prices in Europe since February 2023 threaten industrial production in key economies and loom large over business sentiment.
  
  Amid rising energy prices and fast-depleting natural gas inventories, European energy markets are more anxious than usual as the governments of the two biggest economies, Germany and France, have now collapsed. Source: Oilprice.com
- 2024-12-10
  Beyond Tit for Tat: Unpacking the Real Stakes of the U.S.-China Trade Conflict
  The United States and China moved closer to an all-out trade war as China last week banned export of the key high-tech metals antimony, gallium and germanium to the United States. That was in response to the United States banning exports to China of computer... Read more The United States and China moved closer to an all-out trade war as China last week banned export of the key high-tech metals antimony, gallium and germanium to the United States. That was in response to the United States banning exports to China of computer chip-making equipment, software and high-bandwidth memory chips (used for advanced applications).
  
  It should come as no surprise that the three metals listed above are all implicated in the production of high-performance chips of the very type the United States won't send to China. Which leads me to ask: Which is more important for making advanced computer chips, the actual chemical elements needed to make them or the machines required to manufacture them?
  
  More than two years ago I wrote a piece entitled "East vs West, 'Stuff' vs 'Finance'". My premise was that the United States and European countries ("The West") have hollowed out their economies by focusing on the finance, insurance and real estate sectors, the so-called FIRE economy, to the neglect of manufacturing, mining and agriculture.
  
  While this most recent trade tiff between the United States and China is not directly about "stuff vs. finance," it does make clear that this current battle in the overall trade war is NOT really tit for tat. China has all the intellectual infrastructure to produce top engineers and scientists, a vast computer chip manufacturing sector, and large deposits of and refining capacity for critical high-tech related metals. Not having access to U.S. chip-making equipment, software and advanced chips will just be a bump in the road for China.
  
  For the United States, if a genuine and ongoing shortage of antimony, gallium and germanium were to occur, it could cripple the American computer chip industry to a serious degree. Here's why that could happen. China ranks first in mine production of antimony, producing about half of the world's antimony. The country has one-quarter of all reserves. For the broadest measure of all antimony imports, China provides 63 percent of all U.S. imports. The United States imports about 84 percent of all the antimony it uses.
  
  For gallium the news is worse. China produces 98 percent of the world's supply. Not surprisingly, the United States imports all of the gallium it uses from China. For germanium, figures for world production and reserves are difficult to verify. Total germanium imports of all types from China constituted 26 percent of all U.S. germanium imports. The news on U.S. import dependency is a little better for germanium; only 50 percent of the country's consumption is imported.
  
  The United States still produces actual stuff when it comes to computer chips. But China has essential resources lower on the production chain, namely the elements of antimony, gallium and germanium which as elements cannot be made from anything else. Yes, scientists might ultimately find suitable substitutes at competitive prices. But that takes time and success is uncertain.
  
  Maybe the United States and other countries can develop new mine supply large enough to challenge Chinese dominance. They can certainly try, and the process is likely to take a decade or two, that is, assuming those countries are willing to subsidize and assist the mining industry to hasten development, expedite permitting, and override environmental requirements on a sustained basis over many years while private investors patiently plow money into mining exploration in hopes of an eventual bonanza—unless, of course, Chinese supply crashes the prices of these metals thereby destroying investor confidence as happened with rare earth elements in 2015 and again more recently. Expanding mine production is not as easy as it seems.
  
  So we are back to the illusion that the U.S. and China are merely trading blows of equal importance in an ongoing trade war. My belief is that, in this case, China has the upper hand. Source: Oilprice.com
- 2024-12-10
  MABUX: Global bunker market to move into upward correction Dec.10.
  MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), changed sideways with no definitive trend on Dec. 09: 380 HSFO - USD/MT - 506.99 (-1.07) VLSFO - USD/MT – 581.75 (-3.19) MGO - USD/MT – 744.04 (+0.24) As... Read more MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), changed sideways with no definitive trend on Dec. 09:
  
  380 HSFO - USD/MT - 506.99 (-1.07)
  VLSFO - USD/MT – 581.75 (-3.19)
  MGO - USD/MT – 744.04 (+0.24)
  
  As of Dec. 09, the MABUX Market Differential Index (MDI), monitoring 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: All four ports were underpriced, with the underprice premium narrowing by $1 in Rotterdam, $2 in Singapore, $4 in Fujairah, and $3 in Houston. The MDI index in Rotterdam remained close to a 100% correlation mark between MBP and DBP.
  
  • VLSFO segment: Singapore continued to be the only overcharged port, with the margin rising by $1. The other ports stayed in the underprice zone. The undervalue rate decreased by $5 in Rotterdam and $6 in Houston but increased by $1 in Fujairah. Both Singapore and Fujairah remained close to a 100-percent correlation mark between the market price and the MABUX digital benchmark.
  
  • MGO LS segment: All four ports were underpriced, with the undercharge margin declining by $8 in Rotterdam, $12 in Singapore, $11 in Fujairah, and $6 in Houston. Both Rotterdam’s and Singapore’s MDI stayed well below the $100 mark, whilc Houston approached a 100-percent MBP/DBP correlation mark.
  
  We expect Global bunker market to shift to an upward correction on Dec.10: 380 HSFO – plus 2-4 USD/MT, VLSFO – plus 3-6 USD/MT, MGO LS – plus 5-12 USD/MT.
  Source: MABUX