MABUX: Global bunker market to maintain upward momentum on Nov.25.

MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), trended higher on Nov.22:

380 HSFO - USD/MT - 520.68 (+2.53)

VLSFO - USD/MT – 599.63 (+3.56)

MGO - USD/MT – 763.71 (+4.11)

As of Nov.22, the MABUX Market Differential Index (MDI), measuring the deviation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), showed the following trends across major ports – Rotterdam, Singapore, Fujairah, and Houston:

? HSFO segment: All four selected ports were underpriced, with the underprice premium widening by $11 in Rotterdam, $7 in Singapore, $2 in Fujairah, and $4 in Houston.

? VLSFO segment: Rotterdam and Houston remained undercharged, with the underpricing margin rising by $9 and $6, respectively. Singapore and Fujairah continued to stay in the overcharge zone, with overpricing rates decreasing by $9 in Singapore and $7 in Fujairah, while MDI indexes in both ports approached a 100-percent correlation mark between the market price and the MABUX digital benchmark.

? MGO LS segment: All four ports were undercharged. The underprice gap increased by $10 in Rotterdam, $6 in Singapore, $8 in Fujairah, and $11 in Houston. Rotterdam’s and Singapore's MDI indexes surpassed the $100 mark.

We expect upward trend to continue in the Global bunker market on Nov.25: 380 HSFO – plus 1-3 USD/MT, VLSFO – plus 1-3 USD/MT, MGO LS – plus 2-4 USD/MT. This consistent upward evolution reflects prevailing market dynamics and sustained demand across regions.