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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
1 356.00
0.00
1 270.00
+15.00
Sep 1
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	1 356.00	0.00	1 270.00	+15.00	Sep 1

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
636.21	+14.21	792.45	+16.81	1 381.11	+31.31	Sep 1

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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	555	635	-80	675	713	-38	1 270	1 500	-230	Sep 1
Singapore	632	661	-29	815	807	+8	1 195	1 493	-298	Sep 1
Fujairah	630	611	+19	825	749	+76	1 428	1 556	-128	Sep 1
Houston	487	635	-148	708	741	-33	1 232	1 399	-167	Sep 1

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Digital Bunker Prices
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Latest News
- 2026-09-01
  Oil up more than 2% as renewed US-Iran strikes stoke supply fears
  Oil prices rose more than 2% on Tuesday as a resumption in fighting between the United States and Iran in the Middle East renewed fears of supply disruptions from the oil-producing region. Brent crude futures were up $2.17, or 2.4%, at $92.66 a... Read more Oil prices rose more than 2% on Tuesday as a resumption in fighting between the United States and Iran in the Middle East renewed fears of supply disruptions from the oil-producing region.
  
  Brent crude futures were up $2.17, or 2.4%, at $92.66 a barrel by 1302 GMT, while U.S. West Texas Intermediate crude was up $2.48, or 2.89%, at $88.24.
  
  At that level, the crude contracts had erased most of the losses incurred over the past week on the back of the re-escalation in Middle East conflict.
  
  On Monday, U.S. President Donald Trump threatened further strikes against Iran after the first exchange of direct attacks between the countries since late July, raising tensions in a conflict that had recently shifted into an economic standoff.
  
  "The tit-for-tat missile exchanges between the U.S. and Iran bring validation to those who believe that even if not a ‘forever war’, this conflict will run and run," said PVM analyst John Evans.
  
  Iranian President Masoud Pezeshkian said on Tuesday that his country would immediately reciprocate if the U.S. returned to its commitments under the interim peace deal signed in June.
  
  Efforts by mediators including Qatar and Oman to broker a deal to reopen the Strait of Hormuz, which carried about a fifth of global oil and LNG supplies before the war erupted in late February, have so far proven inconclusive.
  
  "Fresh hostilities between the U.S. and Iran raised concerns about prolonged disruptions to energy flows through the Strait of Hormuz," said Saxo Bank analyst Ole Hansen, adding that a lack of follow-through buying suggests the market is betting on supply not being disrupted more than it is already.
  
  Two supertankers carrying Saudi oil were struck by unknown projectiles within minutes of each other on Monday while crossing the Strait of Hormuz.
  
  The number of visible commodity vessels transiting the Strait of Hormuz held at about five per day on Monday, below the 10-day average of about 14, Kpler shipping data showed. None of the five ships were liquid tankers.
  
  "The hopes that had emerged last week for an upcoming reopening of the Strait of Hormuz to shipping have been dealt a severe blow. The question is also whether, in the event of a renewed escalation, unofficial vessel traffic through the strait can continue unhindered," Commerzbank analysts wrote.
  
  Analysts polled by Reuters in August expected oil prices to remain above $80 a barrel in 2026 as shipping disruptions continue. [O/POLL] Source: Reuters/Investing.com
- 2026-09-01
  Optimum Voyage tech now available on Weilbach platform
  Optimum Voyage and Weilbach have entered a partnership making Optimum Voyage’s voyage optimization technology available directly within the Weilbach platform as Weilbach Optimizer. The technology combines vessel-specific performance modelling with... Read more
- 2026-09-01
  Colonial Group to buy Foster Fuels
  Savannah-based Colonial Group, Inc. has informed ship.energy that it has entered into an agreement to acquire Foster Fuels, a Virginia-based provider of fuel, lubricants, propane, and ‘mission critical’ energy services. Foster Fuels’ mission critical... Read more
- 2026-09-01
  Methanol Institute rebrands as MI — The Global Methanol Alliance
  The Methanol Institute has today informed ship.energy that it has changed its name to MI — The Global Methanol Alliance, to reflect that it has now ‘grown into a global alliance connecting companies across every part of the methanol value chain’. In... Read more
- 2026-09-01
  BIMCO’s Russia Tanker Resale Restrictions Clause expected ‘in Q4 2026 at the earliest’
  BIMCO says its Russia Tanker Resale Restrictions Clause, which is being developed by a subcommittee BIMCO established in response to the EU’s 20th sanctions package, will be available ‘in Q4 2026 at the earliest’. In an email sent to ship.energy following... Read more
- 2026-09-01
  Repsol makes its first Chancay bunker delivery
  Repsol has informed ship.energy that it has made its first bunker delivery at the Port of Chancay in Peru, supplying 740 metric tonnes (mt) of very low sulphur fuel oil (VLSFO) to a container vessel. In a statement sent to ship.energy this morning... Read more
- 2026-09-01
  Titan and Sogestran ink deal for 6,000 cbm LNG bunker vessel
  Titan Clean Fuels has entered into a long-term agreement with shipowner Sogestran Group for the construction, charter and operation of a new 6,000 cubic metre (cbm) LNG bunker vessel which it plans to operate ‘throughout the Western Mediterranean’. In... Read more
- 2026-09-01
  MB Energy completes small-scale truck-to-ship methanol bunkering trial with TUI Cruises
  MB Energy has made a small methanol delivery to TUI Cruises’ Mein Schiff 7 cruise ship, with the fuel delivered during a truck-to-ship bunkering operation at the Port of Kiel set to be ‘used primarily for boiler operations on board’. In a statement... Read more
- 2026-09-01
  NYK Line acquires 50% stake in Avenir LNG from Stolt-Nielsen Gas
  NYK Line has acquired a 50% stake in LNG bunkering firm Avenir LNG from Stolt-Nielsen Gas Ltd, a wholly owned subsidiary of Stolt-Nielsen Ltd (SNI). Stolt-Nielsen Ltd previously held 100% ownership of Avenir LNG. As part of the acquisition, NYK and... Read more
- 2026-09-01
  MABUX: Bunker Monthly Outlook, August 2026.
  The global bunker market in August was shaped primarily by Middle East geopolitical developments, crude oil volatility, tight distillate and low-sulphur fuel supply, and regional imbalances in bunker availability. The key market drivers included: • Middle... Read more The global bunker market in August was shaped primarily by Middle East geopolitical developments, crude oil volatility, tight distillate and low-sulphur fuel supply, and regional imbalances in bunker availability. The key market drivers included:
  • Middle East conflict and Strait of Hormuz: Hormuz restrictions remained the main source of market volatility. Reduced Gulf exports supported prices, while signs of diplomatic progress and potential reopening of the Strait eased the geopolitical premium.
  • Crude oil and geopolitical risk: Brent remained the key directional benchmark, with price movements largely driven by changing geopolitical risk perceptions.
  • Global distillate tightness: Lower Middle East exports, refinery disruptions, constrained refinery output and low inventories kept diesel/gasoil supply tight and supported MGO LS prices.
  • VLSFO feedstock tightness: Limited availability of low-sulphur blending components and competition with the distillate pool kept VLSFO relatively firm against Brent and HSFO.
  • Regional supply imbalances: Prompt bunker availability remained tight in Singapore, Fujairah, ARA and parts of the Mediterranean, supporting regional premiums and widening the disconnect between crude and physical bunker prices.
  
  In August, the global bunker market remained relatively stable overall, despite persistently high volatility driven by the conflict in the Persian Gulf. By the end of the month, the 380 HSFO index had declined by USD 10.50, from USD 631.11/MT at the end of July to USD 620.61/MT. The VLSFO index decreased by USD 14.60, from USD 787.45/MT to USD 772.85/MT, while the MGO LS index fell by USD 4.89, from USD 1,347.19/MT at the end of July to USD 1,342.54/MT. The absence of significant price swings for most of the month was largely supported by the continued observance of the ceasefire agreement between the United States and Iran, despite sporadic violations. However, at the time of writing, a renewed escalation of tensions in the Middle East had triggered a sharp upward correction in bunker prices, increasing volatility and adding renewed upside risks to the market.
  
  The MABUX Global Scrubber Spread (SS) – the price differential between 380 HSFO and VLSFO – narrowed by $4.10 in August, from $156.34 at the end of July to $152.24. The monthly average also declined by $14.08. In Rotterdam, the SS Spread decreased by $14.00, from $139.00 at the end of July to $125.00, briefly falling below the $100.00 mark to a monthly low of $80.00. The port’s monthly average declined by $10.50. Singapore recorded the most significant contraction, with the 380 HSFO/VLSFO spread narrowing by $88.00, from $240.00 at the end of July to $152.00, while its monthly average decreased by $17.46. Despite the downward correction, global and regional SS Spread values generally remained above the $100.00 breakeven level, continuing to support the economic attractiveness of 380 HSFO for scrubber-equipped vessels compared with conventional VLSFO. At the same time, the retreat from previous highs suggests a gradual normalization of the spread and market adaptation to the current geopolitical environment. Looking ahead, the SS Spread dynamics in September are expected to remain largely driven by developments in the Persian Gulf conflict and the prospects for its resolution. Detailed information is available in the “Differentials” section of mabux.com.
  
  In August, the ECA Spread (ES) – the price differential between ULSFO and MGO LS – in Istanbul showed sharp multidirectional fluctuations within a range of $50.00–$150.00. By the end of the month, the index had increased by $50.00, from $75.00 at the end of July to $125.00, while its monthly average rose by $36.25. The Venice ECA Spread was not calculated due to the lack of regular quotations. Amid persistently high market volatility, the ECA Spread continued to show no sustainable directional trend, although the index moved above the psychological $100.00 mark by the end of August. Looking ahead, we expect the ECA Spread to remain subject to irregular and multidirectional fluctuations in September. Detailed information is available in the “Differentials” section of mabux.com.
  
  Tightening global oil and gas supply is increasing the risk of a challenging winter for Europe, given the region’s continued high dependence on imported energy. EU gas storage levels currently stand well below historical norms for this time of year. If LNG imports remain at the current subdued pace, storage levels could reach only around 75% by November, when the heating season officially begins. This would fall significantly short of the EU’s 90% storage target introduced in 2022. Against the backdrop of persistent supply constraints and slower inventory rebuilding, EU authorities have recently signaled greater flexibility on storage requirements, including a potential easing of the November target. Overall, the current storage trajectory leaves the European gas market more exposed to supply disruptions and demand spikes during the upcoming winter season.
  
  European underground gas storage levels continued to rise moderately in August. As of August 31, storage facilities were 64.73% full, up 8.34 percentage points from 56.39% at the end of July. For the first time this year, inventories moved above the level recorded at the beginning of 2026 (61.46%), exceeding it by 3.27 percentage points. At the same time, the European gas market strengthened considerably during the month. The TTF benchmark increased by €8.161/MWh, from €58.818/MWh in July to €66.979/MWh in August, indicating continued price pressure despite improving regional storage levels.
  
  The price of LNG as a bunker fuel at the port of Sines (Portugal) continued its upward trend in August, increasing by USD 78/MT to USD 1,485/MT, compared with USD 1,407/MT at the end of July. The price differential between LNG and conventional bunker fuel remained in favor of conventional fuel, widening slightly to USD 80/MT from USD 75/MT in July. At the end of August, MGO LS was quoted at USD 1,405/MT in Sines. More detailed information is available in the “LNG Bunkering” section of mabux.com.
  
  At the end of August, the MABUX Market Differential Index (MDI) – which tracks the correlation between Market Bunker Prices (MBP) and the MABUX Digital Bunker Benchmark (DBP) – showed the following trends across the world’s four major bunkering hubs: Rotterdam, Singapore, Fujairah, and Houston.
  
  In the 380 HSFO segment, Fujairah returned to the overvalued zone, becoming the only overvalued port in this fuel category, with its premium increasing by 26 points. Rotterdam, Singapore, and Houston remained undervalued. Average monthly underpricing narrowed by 26 points in Rotterdam and 55 points in Singapore, while widening by 50 points in Houston. Houston’s MDI once again exceeded the $100 mark.
  
  In the VLSFO segment, Singapore and Fujairah remained in the overvalued zone. Singapore’s premium increased by 26 points, while Fujairah’s declined by 26 points. Rotterdam and Houston stayed undervalued. Average monthly underpricing widened by 59 points in Rotterdam but narrowed by 2 points in Houston. Singapore’s MDI moved closer to the 100% MBP/DBP correlation level.
  
  In the MGO LS segment, all four ports remained undervalued. Average monthly underpricing widened by 136 points in Rotterdam, 26 points in Singapore, and 79 points in Fujairah, while narrowing marginally by 1 point in Houston.
  
  Overall, the balance between overvalued and undervalued ports showed no significant structural change during August, with Fujairah becoming the only overvalued port in the 380 HSFO segment. Undervaluation continued to prevail across the MDI, although individual hubs and fuel segments showed mixed dynamics. We expect this irregular pattern, with bunker fuel underpricing remaining predominant, to persist in September amid the ongoing conflict in the Middle East and elevated market uncertainty.
  
  More detailed information on the correlation between market bunker prices and the MABUX Digital Bunker Benchmark is available in the “Digital Bunker Prices” section of mabux.com.
  
  Other Global Bunkering Trends
  • E-fuels: Europe currently has 69 maritime e-fuel projects, but only six are operational, according to T&E. China has just three operational projects, yet their combined output is already around 10 times higher, raising competitive pressure on Europe’s emerging e-fuel industry.
  • EU shipping emissions: GHG emissions from EU-linked shipping rose 2.1% year-on-year to 156 million mtCO₂e in 2025. CO₂ emissions increased by 1.8%, while methane emissions surged by around 30%. The number of reporting vessels expanded to 17,000 following broader EU MRV requirements.
  • ARA fuel oil stocks: ARA fuel oil inventories recovered by around 17% from May lows by mid-August but remained 34% below February levels. August imports more than doubled versus July, although prompt bunker availability remained tight, with recommended lead times of 5–7 days.
  • China bunker quality: Marine insurer Gard reported that sulfur-related bunker claims more than tripled year-on-year in H1 2026 amid tighter enforcement of marine fuel regulations in China. Increased inspections, particularly across major Bohai Sea ports, are adding pressure on bunker suppliers and operators.
  • Methanol bunkering: ISO released ISO 22120:2026, setting requirements for methanol bunkering transfer systems and equipment. The standard covers operational procedures, risk assessment, safety measures and personnel training, supporting further development of methanol as a marine fuel.
  
  The global bunker market is expected to remain volatile in September, with Middle East developments and the Strait of Hormuz remaining the key drivers. Gradual recovery in Gulf oil flows may ease the geopolitical premium and pressure bunker prices, while tight distillate supply, low inventories and regional supply imbalances should limit the downside. Overall, MABUX expects the market to move toward gradual stabilization, but with irregular price fluctuations and significant upside risks in case of renewed geopolitical escalation.
  Source: MABUX

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