Global Maritime Energy Benchmarks
MARKET SNAPSHOT • 07:00 CEST
Energy markets opened Friday under generally steady conditions as traders continued to monitor global supply fundamentals alongside geopolitical developments affecting maritime energy flows. Brent crude was assessed at USD 84.96 per barrel, while WTI traded at USD 79.80 per barrel.¹
Physical marine fuel markets continued to display orderly trading despite firmer crude oil prices, while regional bunker assessments reflected local supply-demand balances rather than broad energy market volatility. Northwest European Marine Gas Oil (MGO) maintained its premium over Singapore while both principal bunkering hubs continued reporting normal fuel availability.
NORTH SEA DESK • ROTTERDAM MARKET REMAINS FIRM
The latest Rotterdam bunker assessments placed Very Low Sulphur Fuel Oil (VLSFO) at USD 667.00/MT, while Marine Gas Oil (MGO) was assessed at USD 1,155.50/MT. The widening differential between VLSFO and Marine Gas Oil continues to emphasise the importance of fuel selection, bunker procurement timing and voyage optimisation for commercial operators.
Northwest European bunker markets continue to benefit from reliable fuel availability and well-developed storage infrastructure. Rotterdam remains one of the world’s leading bunkering hubs, supporting a broad range of tanker, dry bulk and container vessel operations.
MALACCA STRAIT DESK • SINGAPORE MARKET EASES
The latest Singapore bunker assessments placed VLSFO at USD 780.50/MT, while Marine Gas Oil (MGO) stood at USD 1,144.00/MT. Regional bunker pricing continues to reflect balanced supply conditions and steady bunker demand across both residual and distillate marine fuels, while overall fuel availability remains normal.
Singapore continues to serve as the world’s busiest marine fuel hub, with strong regional demand and high vessel traffic supporting active bunker operations. Fuel availability remains reported as normal across the principal supply terminals.
Navigating the VLSFO/MGO Spread
The current spread between Rotterdam VLSFO and Rotterdam MGO stands at approximately USD 488.00/MT.
The current price differential continues to favour VLSFO from a fuel-cost perspective, particularly for operators able to optimise procurement across multiple bunker hubs. Nevertheless, fuel purchasing strategies, voyage planning and operational flexibility remain decisive factors in overall voyage economics.
Vessels equipped with exhaust gas cleaning systems (EGCS) continue to retain a fuel-cost advantage, although the economic benefit remains more moderate than during periods of wider fuel spreads.
Currency Fluctuations and Fuel Procurement
As marine fuels are traded globally in US dollars, exchange-rate movements remain an important consideration for European shipowners, charterers and operators.
The USD/EUR reference rate currently stands at 0.8742, providing a stable exchange-rate backdrop for European shipowners, charterers and operators managing fuel procurement and voyage budgeting.
By integrating foreign exchange data alongside crude oil, bunker fuel and freight market indicators, AAJS provides a broader operational perspective on the factors influencing maritime operating costs, fleet performance and commercial decision-making.
¹ Note: All quoted spot prices, bunker fuel indices, freight benchmarks, and currency conversions serve as fixed morning indicators. Live rates in the Right Sidebar Market Terminal update dynamically on business days following official upstream assessments, Baltic Exchange releases, and foreign exchange data. Timestamps indicate the latest available database refresh rather than page-render times.