Suez Canal container traffic: AIS data shows recovery remains uneven
December 11, 2025
Global bunker prices eased slightly over Week 50, with all major MABUX indices edging lower. According to the latest update, the 380 HSFO index dipped to USD 403.50/MT, approaching the USD 400 threshold, while VLSFO slipped marginally to USD 486.27/MT.
The steepest correction came from MGO LS, which dropped USD 9/MT to USD 753.68/MT, although the overall bunker market still shows no clear trend.
The global Scrubber Spread widened modestly to USD 82.77, remaining well below the USD 100 breakeven level. Port-level dynamics diverged: Rotterdam saw a slight widening, while Singapore narrowed week-on-week.
In ECAs, the spread between ULSFO and MGO LS tightened in Istanbul and Venice but continues to sit around the USD 100 level, maintaining ULSFO’s competitive position.
Meanwhile, European LNG bunker prices rose sharply, with Sines LNG up USD 48/MT, narrowing the LNG vs MGO differential to just USD 16/MT.
Across the main hubs, the MABUX Market Differential Index still indicates undervaluation for all fuel grades — a trend expected to persist next week.
Source: MABUX
