MABUX: Bunker Prices to Rise Modestly Next Week in International Shipping News 06/02/2026 Over the Week 06, the global MABUX bunker indices did not demonstrate significant overall changes and moved in mixed directions. The 380 HSFO index edged up by USD 1.24, rising from USD 424.43/MT last week to USD 425.67/MT. The VLSFO index posted a more notable increase of USD 5.29, climbing from USD 503.30/MT to USD 508.59/MT and remaining above the USD 500 threshold. In contrast, the MGO LS index declined by USD 2.35, falling from USD 781.15/MT last week to USD 778.80/MT. At the time of writing, the global bunker market was experiencing a moderate upward corrective movement. The MABUX Global Scrubber Spread (SS)—the price differential between 380 HSFO and VLSFO—recorded a moderate increase of $4.05, rising from $78.87 last week to $82.92. The spread thus moved above the $80.00 level, while still remaining steadily below the psychological threshold of $100.00 (SS breakeven). At the same time, the weekly average value of the index increased by $1.28. In Rotterdam, the SS Spread also expanded by $5.00, reaching $42.00 compared to $37.00 last week. However, the weekly average SS Spread in the port declined by $12.33. In Singapore, the 380 HSFO/VLSFO price differential narrowed sharply by $20.00, falling from $63.00 last week to $43.00 and breaking below the $50.00 mark. The weekly average SS Spread in the port likewise decreased by $11.50. Overall, SS Spread dynamics over the week were mixed, continuing to reflect higher economic attractiveness of conventional VLSFO usage compared to the 380 HSFO plus scrubber combination. We expect the SS Spread to remain largely flat next week, with mixed index movements likely to persist. Detailed information is available in the Differentials section of mabux.com. By the end of the week, the Istanbul ECA Spread (ES) increased by $5.00, rising from $75.00 to $80.00, and briefly touched the $100.00 level, while the weekly average value advanced by $6.67. In Venice, the ECA Spread also rose by $5.00, moving from $65.00 to $70.00. However, the weekly average in the port declined by $10.66. End-of-week ES dynamics in both ports pointed to emerging upward momentum. We expect the upward trend in the ECA Spread to continue into next week. Detailed information is available in the Differentials section on mabux.com. European gas storage levels fell to 39,86% of total capacity as of February 03, (down by 4.37 percentage points from the previous week) marking the lowest level for this time of year since 2022, when inventories dropped to 40%. Current storage is well below the 10-year seasonal average of 58%, underscoring the growing imbalance in the European gas market. If prevailing drawdown trends persist, storage levels could decline to 30% or lower by the end of March. Under this scenario, Europe would need to inject approximately 60 billion cubic meters (bcm) of gas to rebuild inventories to 83% capacity—the level at which the region entered last winter. Importantly, not all gas imports are directed into storage. A substantial share is consumed immediately to meet daily demand, implying that Europe’s total gas procurement requirements in the coming months will be significantly higher than storage replenishment needs alone suggest. Despite continued pipeline supplies from Norway, North Africa, and Azerbaijan, as well as limited domestic production, the scale of the refilling challenge remains immense. Rebuilding undergroun