Bunker Global Open Directory News
2026-02-19MABUX: Global bunker market to resuje sustainable upward evolution on Feb. 19.
The MABUX World Bunker Index — a composite indicator reflecting daily prices for 380 HSFO, VLSFO, and MGO — moved sideways on Feb. 18, lacking a consistent directional trend:
380 HSFO: USD/MT 434.70 (-0.25)
VLSFO: USD/MT 522.62 (+0.39)
MGO: USD/MT 779.43 (+1.22)
The mixed performance across segments indicates short-term consolidation following previous fluctuations, with limited net changes in the overall bunker price structure.
As of Feb. 18, the MABUX Market Differential Index (MDI) — which evaluates the correlation between Market Bunker Prices (MBP) and the MABUX Digital Bunker Price Benchmark (DBP) – recorded the following developments across the key global hubs of Rotterdam, Singapore, Fujairah, and Houston:
• HSFO segment: Singapore and Fujairah remained in the overcharge zone, with premiums widening by $10 and $7 respectively, suggesting strengthening upward pressure in these hubs. Rotterdam and Houston continued to be undercharged, although the discount narrowed by $9 in Rotterdam and $11 in Houston, pointing to gradual price realignment toward benchmark levels.
• VLSFO segment: All four ports remained in the undercharge zone, with the discount ratio decreasing by $12 in Rotterdam, $7 in both Singapore and Fujairah, and $12 in Houston. Notably, Houston’s MDI approached the 100% correlation mark between MBP and DBP, indicating near-complete convergence with the digital benchmark and reduced pricing imbalance.
• MGO LS segment: All monitored ports continued to register underpricing, though discounts narrowed by $4 in Rotterdam, $5 in Singapore, $8 in Fujairah, and $4 in Houston. Houston’s MDI remained close to full correlation between MBP and DBP, signaling further normalization of market pricing.
We expect Global bunker market to resume a sustainable upward trend on Feb. 19: 380 HSFO – plus 5-10 USD/MT, VLSFO – plus 5-15 USD/MT, MGO LS – plus 7-18 USD/MT. The anticipated gains reflect tightening differentials and improving benchmark correlation, supporting a short-term bullish market structure.
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