MABUX: Bunker Prices to Keep Rising Next Week in International Shipping News 01/05/2026 During the week, the global bunker market resumed a clear upward trajectory, driven by persistent geopolitical tensions in the Middle East and the absence of any visible de-escalation signals. Market sentiment remained firmly supported by supply-side concerns and elevated risk premiums. By the end of the week, the 380 HSFO index increased by USD 26.54, rising from USD 737.03/MT to USD 763.57/MT. The VLSFO index recorded a more pronounced gain of USD 54.12, climbing from USD 856.02/MT to USD 910.14/MT and decisively breaching the USD 900.00 threshold. The MGO LS index also strengthened, advancing by USD 45.24 from USD 1,406.74/MT to USD 1,451.98/MT. At the time of writing, the market exhibited early signs of relative stabilization, with bunker indices transitioning into a phase of moderate and mixed fluctuations, suggesting a temporary pause in the upward momentum. The MABUX Global Scrubber Spread (SS) – representing the price differential between 380 HSFO and VLSFO – posted a significant increase of USD 27.58, rising from USD 118.99 last week to USD 146.57. The index remains firmly above the key psychological threshold of USD 100.00 (SS breakeven), reinforcing the economic attractiveness of scrubber installations. The weekly average SS index also advanced by USD 11.43, confirming a strengthening trend on a broader basis. At the regional level, Rotterdam recorded a substantial gain, with the SS Spread rising by USD 28.00 from USD 62.00 to USD 90.00, approaching the breakeven level. The port’s weekly average spread increased by USD 18.84, indicating continued recovery in fuel price differentials. In Singapore, the 380 HSFO/VLSFO spread also expanded, gaining USD 5.00 from USD 87.00 to USD 92.00, gradually moving closer to the USD 100.00 threshold. The weekly average spread in the port rose by USD 23.33, reflecting improving market conditions in the region. Amid ongoing market volatility, the SS Spread has established a clear upward trend, which is expected to persist into the coming week. Further details are available in the “Differentials” section of mabux.com. The Istanbul ECA Spread (ES) continued its downward movement over the week, declining by USD 25.00 from USD 75.00 to USD 50.00. Despite the overall decrease, the market remained highly volatile, with intermittent spikes reaching as high as USD 115.00. The weekly average ES also fell by USD 14.17, reflecting the prevailing downward pressure. The Venice ECA Spread remains unavailable due to the absence of consistent market quotations. Amid sustained volatility, the ECA Spread may shift toward moderate growth in the coming week. Further details are available in the “Differentials” section of mabux.com. According to the Gas Exporting Countries Forum (GECF), the ongoing conflict in the Middle East is significantly disrupting global gas supply dynamics while simultaneously triggering demand destruction. LNG imports—particularly across Asian markets—have declined sharply, pressured by elevated prices and constrained availability. What initially appears as a short-term shock increasingly carries structural implications: a prolonged conflict could reshape long-term demand patterns and undermine expectations of a forthcoming global gas surplus. On the supply side, alternative producers remain unable to fully offset the disruption. While U.S. LNG exports have expanded to partially bridge the gap, capacity