Container shipping recovery strengthens in Q2 2026
August 28, 2026
Global bunker prices eased slightly in August, although the market remained volatile due to Middle East geopolitical developments, crude oil movements and tight availability across key bunker hubs.
By the end of the month, the MABUX 380 HSFO Index had declined by USD 10.50, moving from USD 631.11/MT at the end of July to USD 620.61/MT. The VLSFO Index fell by USD 14.60 to USD 772.85/MT, while the MGO LS Index decreased by USD 4.89 to USD 1,342.54/MT. Most of the month was relatively stable, supported by the continued observance of the U.S.–Iran ceasefire, although renewed tensions later triggered a sharp upward correction in bunker prices.
The Global Scrubber Spread narrowed by USD 4.10 to USD 152.24 but remained above the USD 100 breakeven level. Rotterdam and Singapore also recorded lower spreads, though scrubber economics continued to support the use of 380 HSFO by equipped vessels.
Regional dynamics remained uneven. Istanbul’s ECA Spread rose to USD 125, while Venice was not calculated due to a lack of regular quotations.
Energy markets stayed under pressure. European gas storage reached 64.73% by August 31, while TTF prices increased sharply. LNG bunker fuel at Sines rose to USD 1,485/MT.
Looking ahead, MABUX expects the bunker market to remain volatile in September, with Middle East developments and Strait of Hormuz flows remaining the key drivers.
Source: MABUX
