Bunker fuel prices moved unevenly in Week 46, with HSFO softening, VLSFO drifting sideways and MGO LS edging higher. The scrubber spread narrowed slightly but remained broadly supportive for scrubber-equipped vessels.
The 380 HSFO index slipped during the week, easing toward the mid-$430s/MT, while VLSFO held close to $510/MT with minimal day-to-day movement. MGO LS recorded a modest uptick, supported by firmer distillate sentiment.
The global MABUX Scrubber Spread (SS) narrowed on the week, averaging just above $82/MT. Rotterdam’s differential eased into the mid-$40s/MT and Singapore’s spread moved back toward the low-$90s/MT. Despite the weekly tightening, the HSFO–VLSFO gap continues to offer an economic advantage for scrubber-fitted tonnage.
Across major hubs, the MABUX Market Differential Index (MDI) continued to show a predominance of undervaluation for all three fuel grades. Most ports remained undervalued against digital benchmarks, signalling continued pressure on spot bunker prices.
In the LNG segment, pricing stayed competitive relative to MGO in key European ports, though weekly changes were limited. Global gas and oil benchmarks were mixed, with European storage levels high and crude demand signals still soft.
Overall, Week 46 maintained the same pattern seen in recent weeks: uneven grade-by-grade price moves, moderate scrubber-spread volatility and limited visibility on a strong directional trend. MABUX expects bunker indices to continue fluctuating in different directions into the next week.
Source: MABUX
