Bunker Market Index – Week 24

bunker fuel index

Last week bunker prices continued to rise slightly. MABUX Global Bunker Index for 380 HSFO rose from $274/MT on June 04 up to $287/MT today, Jun.11 (plus $13), VLSFO – from $314/MT to $335/MT (plus $21), MGO LS – from $387/MT to $409/MT (plus $22).

Bunker indexes followed the general trend of the global oil market which was also in a rise as OPEC+ agreed to a one-month extension of its oil production cuts (9.6 million barrels per day) and adopted a stricter approach to ensuring members compliance.

The average VLSFO-HSFO global spread (so called Scrubber Spread (SS)) was steady the last 7 days and stands at 42.47 USD (+1.42 USD for index a week ago). In Rotterdam weekly SS index is 42.33 USD (-0.17 USD). The highest SS index was registered in Singapore this week: 87.17 USD (+17.84 USD), while in Fujairah it fell to 76.50 from 102.17 USD a week ago (-25.67) USD. The 380 HSFO-VLSFO spreads are still rather narrow. As a result, scrubber prospects have received a setback and installations are getting delayed globally.

Source: MABUX

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