Mabux: Global Bunker Prices

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MARKET BUNKER PRICES (MBP)
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- Differentials section: VLSFO/380 HSFO, VLSFO/MGO LS, MGO LS/VLSFO
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DIGITAL BUNKER PRICES (DBP:ICE/NYMEX)
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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
740.50
+1.50
612.00
-3.00
May 21
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	740.50	+1.50	612.00	-3.00	May 21

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
464.65	-1.81	536.96	-0.48	717.26	-2.26	May 23

Click to see Regional Bunker Indexes

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	427	416	+11	472	468	+4	612	598	+14	May 23
Singapore	443	423	+20	511	506	+5	602	631	-29	May 23
Fujairah	420	463	-43	501	513	-12	700	784	-84	May 23
Houston	402	432	-30	461	543	-82	615	662	-47	May 23

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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
- API for integration with your application, custom solutions available upon demand
- Bunker market analyses upon request for required region or port
- Bunker Price seminars that allow to learn how to use MABUX tools for bunker business
- MABUX Open Bunker Directory features contact details of bunker suppliers, traders and brokers worldwide.
Latest News
- 2025-05-23
  Oil rebounds on short-covering, nuclear talks
  Oil prices rebounded on Friday as U.S. buyers were filling inventories ahead of the three-day Memorial Day weekend amid worries over the latest round of nuclear talks between American and Iranian negotiators. Brent crude futures rose 54 cents, or 0.84%,... Read more Oil prices rebounded on Friday as U.S. buyers were filling inventories ahead of the three-day Memorial Day weekend amid worries over the latest round of nuclear talks between American and Iranian negotiators.
  Brent crude futures rose 54 cents, or 0.84%, to $64.98 a barrel by 1600 GMT. U.S. West Texas Intermediate crude futures were up 39 cents, or 0.64%, at $61.59.
  In earlier trading futures had dropped by 1% as they headed to the first weekly decline in three weeks after U.S. President Donald Trump on Friday recommended a 50% tariff on the European Union and expectations rose that OPEC+ will increase crude output further in July.
  "I think there is some short-covering going into this weekend," said Phil Flynn, senior analyst with Price Futures Group.
  The Memorial Day weekend kicks off the U.S. summer driving season, the period of highest demand for motor fuels.
  U.S. and Iranian negotiators met in Rome on Friday in another round of talks aimed at curtailing the Islamic Republic’s nuclear program. Traders are afraid crude supplies could be interrupted if talks fail to reach a deal, Flynn said.
  "The talks are not looking good," he said. "If these are the last talks and there’s no deal, it could give a green light to the Israelis to attack Iran."
  President Trump said on Friday that he is recommending a straight 50% tariff on goods from the EU starting on June 1, saying the bloc has been hard to deal with on trade.
  
  "The tariff threats versus the European Union, an important trading partner of the U.S., supports renewed economic slowdown concerns," said UBS analyst Giovanni Staunovo.
  
  Meanwhile, the OPEC+ group comprising the Organization of the Petroleum Exporting Countries and allies led by Russia is holding meetings next week expected to yield another output increase of 411,000 barrels per day (bpd) for July.
  Reuters reported this month that the group could unwind the rest of its 2.2 million bpd voluntary production cut by the end of October, having already raised output targets by about 1 million bpd for April, May and June.
  Source: Reuters/Investing.com
- 2025-05-23
  EUROPE: FINNLINES LAUNCHES GREEN LANE LOW CARBON TRANSPORTATION
  Finnlines’ new Green Lane service, which starts today (22 May), offers the options of transporting freight and passengers by vessels operating on biofuels or electricity. Electricity powered shipments will be available on the Naantali–Kapellskär route,... Read more
- 2025-05-23
  GLOBAL: SUSTAINABLE OCEAN ECONOMY COULD CREATE UP TO 51 MILLION NEW JOBS BY 2050, FINDS NEW OCEAN PANEL BLUE PAPER
  A new ‘Blue Paper’ from the High Level Panel for a Sustainable Ocean Economy (Ocean Panel) has estimated that the sustainable ocean economy could create up to 51 million new jobs by 2050 – taking the total number of people employed across ocean sectors,... Read more
- 2025-05-23
  ASIA PACIFIC: ENVISION ENERGY’S CHINESE GREEN AMMONIA PRODUCTION FACILITY GETS BV CERTIFICATION
  The initial phase of Envision Energy's green hydrogen and ammonia project in Chifeng, China, has been granted the Bureau Veritas (BV) Renewable Ammonia Certification. According to Envision, which is also pursuing China's first ISCC Plus certification... Read more
- 2025-05-23
  EUROPE: PORT OF ROTTERDAM AUTHORITY AND EDGE NAVIGATION MOVE AHEAD ON LIQUID HYDROGEN INFRASTRUCTURE
  The Port of Rotterdam Authority and EDGE Navigation have signed a Letter of Intent (LoI) to work together on the development of a ‘future-proof’ liquid hydrogen infrastructure for the maritime sector. Oslo-based EDGE Navigation is currently developing... Read more
- 2025-05-23
  EUROPE: FINCANTIERI OPENS NEW NORWEGIAN OFFICE
  Fincantieri Marine Group has opened an office in the Grünerløkka neighborhood of Oslo, Norway. According to a statement posted on the website of Fincantieri’s parent company Vard today (22 May), the new office will aim to ‘enhance communication with... Read more
- 2025-05-23
  GLOBAL: IGU REPORTS 2.4% GROWTH IN GLOBAL LNG TRADE IN 2024 AND INCREASING MOMENTUM FOR LNG BUNKERING
  The global LNG trade grew by 2.4% in 2024 to 411.24 million tonnes (mt), according to the International Gas Union’s (IGU) newly-published annual report, and the year was also a ‘significant one for LNG bunkering’ with the ports of Singapore and Rotterdam... Read more
- 2025-05-23
  Oil falls on stronger US dollar, possibility of higher OPEC+ output
  Oil prices slipped on Friday, weighed down by a stronger U.S. dollar and the possibility that OPEC+ will further increase its crude oil output. Brent futures fell 37 cents to $64.07 a barrel by 0015 GMT. U.S. West Texas Intermediate crude futures lost... Read more Oil prices slipped on Friday, weighed down by a stronger U.S. dollar and the possibility that OPEC+ will further increase its crude oil output.
  Brent futures fell 37 cents to $64.07 a barrel by 0015 GMT. U.S. West Texas Intermediate crude futures lost 39 cents to $60.81.
  Brent was down 2% on the week, and WTI was 2.7% lower.
  The U.S. dollar strengthened against a basket of currencies on Thursday, boosted by the passage of President Donald Trump’s bill for tax and spending cuts by the House of Representatives.
  Oil typically trades inversely with the dollar because a stronger greenback makes the commodity more expensive for non-U.S. buyers.
  A Bloomberg News report that OPEC+ was considering another large production increase at a meeting on June 1 also pushed oil prices lower.
  Increasing output by 411,000 barrels a day (bpd) for July was among the options discussed, but no final agreement has yet been reached, the report said, citing delegates.
  Reuters previously reported that OPEC+ would accelerate oil hikes.
  A large crude oil build in the U.S. earlier in the week also weighed on oil prices.
  
  U.S. crude oil storage demand has surged in recent weeks to levels similar to the COVID-19 pandemic, according to data from storage broker The Tank Tiger, as traders brace for a flood of increased supply in coming months from the Organization of the Petroleum Exporting Countries and its allies.
  
  On Friday, the market will watch for U.S. oil and gas rig count data from Baker Hughes (NASDAQ:BKR) that is used as an indicator for future supply.
  Source: Reuters/Investing.com
- 2025-05-23
  China Is on Its Way to Becoming World’s First ‘Electrostate’
  Many people are perhaps familiar with the term “petrostates”, which usually denotes oil-rich nations that are deeply intertwined with the oil industry, often facing economic and political challenges due to oil price fluctuations and the potential decline... Read more Many people are perhaps familiar with the term “petrostates”, which usually denotes oil-rich nations that are deeply intertwined with the oil industry, often facing economic and political challenges due to oil price fluctuations and the potential decline in hydrocarbon resources. Saudi Arabia, Iraq, the United Arab Emirates (UAE), Kuwait, and Iran are some of the world’s leading petrostates. But with the world’s electrification drive now in full gear, scientists have coined the term “electrostates” to refer to countries that have made the most progress transitioning away from processes and technologies that rely on fossil fuels to electrically powered alternatives.
  
  According to the International Energy Agency (IEA), electrification is “one of the most important strategies for reducing carbon emissions from energy.” And, as in many other scientific arenas, China has emerged as the nation that is leading the electrification race, ahead of the United States and Europe.
  
  According to a study, China’s electrification rate has hit 30%, significantly ahead of the U.S. and the EU and US where the electrification rate has plateaued at ~22% in recent years.
  
  The study defines the electrification rate as the share of electricity in final energy consumption versus energy coming from fossil fuels. According to the study, the U.S. still leads the world in the electrification of buildings; however, China recently caught up to the U.S. and Europe in industrial electrification, and has overtaken both in the electrification of transport. In 2024, electric vehicles (EVs) made up approximately 47.9% of the total passenger car sales in China, a huge increase from 2020, when plug-in EVs accounted for just 6.3% of total sales. In comparison, electric vehicles accounted for less than 23% of new car sales in Europe over the timeframe.
  
  The rapid expansion of China’s modern rail network has also helped supercharge the electrification of the country's transport sector. China boasts a 45,000 km high-speed rail network, five times the size of the EU’s. That figure is expected to expand to 60,000km by 2030.
  
  China’s President Xi Jinping has been largely credited with the country’s remarkable electrification journey. When Xi became the leader of the Chinese Communist Party in 2012,
  
  China had emerged as the world’s second-largest economy and the United States’ archrival nuclear power. However, the country was still highly dependent on other countries for its energy needs. China’s oil and coal imports were surging to record highs, exposing the country to potential supply disruptions amid growing geopolitical tensions.
  
  Fast forward to the present, and China is not only rapidly advancing towards energy security but also controls the critical minerals that underpin technologies of the future.
  
  “Nobody had been seriously worrying about energy security or supply chains for armaments and critical industries and food because everyone thought that went with the Cold War,”
  
  says Andrew Gilholm, head of China analysis at consultancy Control Risks. “Meanwhile, China has been working on that for years.”
  
  China now leads the 4th Industrial Revolution, making huge strides in electrification, renewable energy, artificial intelligence (AI), robotics and the Internet of Things. And, just as oil and gas drive the petrostates of the Arab world, clean energy technologies are powering China’s growth.
  
  To wit, renewable energy accounted for a record 10% of China’s GDP in 2024, driving a quarter of economic expansion, the Centre for Research on Energy and Clean Air (CREA) has revealed.
  
  Beyond energy security and economic growth electrification is expected to play a critical role in addressing climate change.
  
  “We cannot see any way to a zero-carbon economy except through massive electrification,”
  
  Lord Adair Turner, head of the Energy Transitions Commission, said.
  
  This is particularly critical for China, which remains the world’s biggest polluter and emitter of greenhouse gases. China’s power sector emissions hit record highs last year, driven by a surge in coal consumption. However, the country’s progress in electrification and the transition to renewable energy will be able to mitigate some of the damage.
  
  Coal remains a controversial topic in China, with Beijing indicating it will start phasing down coal consumption between 2006 and 2030. Whereas this suggests a gradual decline rather than a complete and immediate phase-out, the IEA predicts that coal generation in China will likely peak around 2025 and decline thereafter. However, recent reports indicate that China is still building new coal plants, which raises questions about the commitment to phasing down coal use: Reuters has reported that China plans to keep building coal-fired power plants through 2030. Source: Oilprice.com
- 2025-05-23
  $60 Oil Puts Big Oil’s Record Payouts at Risk
  Western energy supermajors are faced with an increasingly difficult challenge: either keep their promise of returning ever-higher shareholder returns or risk spurning investors to save their balance sheets. Record cash has been allocated to shareholders,... Read more Western energy supermajors are faced with an increasingly difficult challenge: either keep their promise of returning ever-higher shareholder returns or risk spurning investors to save their balance sheets. Record cash has been allocated to shareholders, but with recent double-digit dips in oil prices not reversing, these payouts will be increasingly difficult to maintain. Rystad Energy estimates that the majors will likely need to reduce both investment and shareholder payouts to balance their cash flows in the current oil price environment.
  
  “Recent market volatility has left the majors with few economically attractive options that both allow for reinvestment while maintaining a competitive capital returns framework. As companies like Shell and ExxonMobil continue to push ahead with large-scale buyback programs despite shrinking cash inflows, the durability of these strategies is in question. For now, the majors are holding the line. But if oil prices remain depressed, adjustments may be inevitable. Buybacks—typically more flexible than dividends—are likely to be the first lever pulled,” says Espen Erlingsen, Head of Upstream Research, Rystad Energy.
  
  Total shareholder payouts by BP, Chevron, Eni, ExxonMobil, Shell, and TotalEnergies reached $119 billion in 2024, beating the previous record set in 2023. The payout ratio—shareholder payouts as a share of corporate cash flow from operations (CCFO)—climbed to 56%, well above the 30–40% range that was typical from 2012 to 2022. If shareholder payouts remain at 2024 levels throughout 2025, this would imply that companies distribute more than 80% of their cash flow to investors, based on first quarter CCFO as a proxy for full-year performance. This would mark a sharp and highly unsustainable jump from the 56% payout ratio recorded in 2024. However, many firms have established payout targets tied to CCFO, and based on current cash generation levels, shareholder payouts could fall by 20–40% in 2025.
  
  To keep up with this increasing payout ratio, the majors have been sustaining shareholder payouts in part by drawing down cash reserves. Following a peak of nearly $160 billion between the third quarter of 2022 and the first quarter of 2023, aggregate cash reserves have steadily declined, reaching just above $120 billion as of the first quarter of 2025. If current payout levels are sustained throughout the year, total shareholder payouts could again reach $119–$120 billion in 2025, matching the record set in 2024.
  
  There are, however, several downside risks to this estimate. First, maintaining these payout levels would imply that the majors are distributing over 80% of their cash generation, based on first quarter 2025 CCFO as a proxy for full-year performance. Second, the recent decline in oil prices—now hovering around $60 per barrel— could force the majors to make a difficult choice between cutting buybacks, which would be unpopular with investors, or using their balance sheets to support current repurchase levels. Third, several companies have formal payout ratio targets linked to CCFO. For example, BP, Eni, and TotalEnergies have stated targets shareholder returns of 30–40% of CFFO, while Shell targets 40–50%. Applying these payout targets to current cash flow levels, total shareholder payouts could fall by approximately 20% to 40% from $119 billion to around $70 to $95 billion in 2025.
  
  “All the majors have thus far upheld their shareholder payout guidance, despite weakening market fundamentals. Shareholders have been accustomed to a stronger commodity price environment over the last few years, and recent market shocks will undoubtedly have a lasting impact on payout levels and investor expectations. Although the drop in oil prices creates downside risk for shareholder returns, the majors will remain reluctant to scale back their capital returns framework in the near-term,” says Erlingsen. Source: Oilprice.com

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