Bunker Global Open Directory News
2026-02-25MABUX: Global bunker indices to reverse downward on Feb. 25.
The MABUX World Bunker Index — a composite benchmark reflecting daily prices for 380 HSFO, VLSFO, and MGO — continued its upward trajectory on Feb. 24, marking the fourth consecutive session of gains:
380 HSFO: USD/MT 453.75 (+0.85)
VLSFO: USD/MT 549.71 (+2.54)
MGO: USD/MT 814.5 (+2.53)
As of Feb. 24, the MABUX Market Differential Index (MDI) — which measures the spread between Market Bunker Prices (MBP) and the MABUX Digital Bunker Price Benchmark (DBP) – continued to indicate underpricing across all bunker fuel segments in the key global hubs of Rotterdam, Singapore, Fujairah, and Houston:
• HSFO segment: Discount levels narrowed by $2 in both Rotterdam and Singapore, remained unchanged in Fujairah, and contracted by $13 in Houston. In Fujairah, the MDI remained close to the 100% correlation threshold between MBP and DBP, indicating near-alignment with the digital benchmark.
• VLSFO segment: All four hubs continued to register underpricing. Discount margins declined by $4 in Rotterdam, $4 in Singapore, and $1 in Houston, while widening by $2 in Fujairah. Houston’s MDI moved closer to full correlation between MBP and DBP.
• MGO LS segment: All selected ports remained in the underpriced zone. Discount levels widened by $9 in Rotterdam, $10 in Singapore, $20 in Fujairah, and $26 in Houston, indicating a growing divergence from the DBP benchmark.
We expect Global bunker indices to reverse into a downward trend on Feb. 25: 380 HSFO –minus 1-3 USD/MT, VLSFO – minus 2-4 USD/MT, MGO LS – plus-minus 2-7 USD/MT. The anticipated correction reflects short-term market adjustments following four consecutive sessions of gains.
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