Mon 2 Feb 2015, 09:58 GMT

Fourth consecutive month of high price volatility


Bunker price volatility remained above $45 during the month of January.



Bunker price volatility during the month of January remained above $45 for the fourth consecutive month, according to Bunker Index price data.

In a comparison of low-to-high differentials for the daily Bunker Index (BIX) global average, January recorded a differential of $48.61 per tonne, down from $91.04 per tonne in December - the highest level since Bunker Index began publishing volatility data in April 2009.

The lowest daily global bunker average last month was 477.44 per tonne, recorded on January 28, whilst the highest price was $526.05 per tonne on January 2.

It is only the fourth time in 21 months (since April 2013) that bunker price volatility has been above $24. Prior to October, volatility had remained below $20 for 12 consecutive months (between September 2013 and August 2014). Between May 2013 and September 2014, only the months of August 2013 and September 2014 recorded volatility levels above $20.

Please find below a table showing the intra-month price volatility of global bunker prices between April 2009 and January 2015.

All prices are in USD per metric tonne.

Month Low-High
Differential ($)
Low ($) High ($)
Jan-15 48.61 477.44 526.05
Dec-14 91.04 525.09 616.13
Nov-14 53.50 619.07 672.57
Oct-14 67.31 674.79 742.10
Sep-14 23.37 743.66 767.03
Aug-14 13.34 764.24 777.58
Jul-14 18.55 778.02 796.57
Jun-14 13.19 786.93 800.12
May-14 8.27 784.14 792.41
Apr-14 8.91 785.71 794.62
Mar-14 12.44 789.12 801.56
Feb-14 14.81 785.49 800.30
Jan-14 11.58 783.85 795.43
Dec-13 8.45 789.78 798.23
Nov-13 15.08 775.38 790.46
Oct-13 9.51 785.64 795.15
Sep-13 14.96 793.20 808.16
Aug-13 23.09 785.94 809.03
Jul-13 14.21 782.20 796.41
Jun-13 18.16 778.58 796.74
May-13 12.86 780.06 792.92
Apr-13 42.34 774.36 816.70
Mar-13 15.79 809.89 825.68
Feb-13 25.25 828.23 853.48
Jan-13 25.00 809.78 834.78
Dec-12 14.55 798.03 812.58
Nov-12 12.00 804.14 816.14
Oct-12 22.74 821.23 843.97
Sep-12 28.02 839.28 867.30
Aug-12 51.96 800.77 852.73
Jul-12 44.77 761.50 806.27
Jun-12 50.40 753.89 804.29
May-12 76.59 813.74 890.33
Apr-12 17.47 882.87 900.34
Mar-12 14.36 893.30 907.66
Feb-12 43.57 850.51 894.08
Jan-12 32.87 825.20 858.07
Dec-11 26.07 804.06 830.13
Nov-11 30.28 819.92 850.20
Oct-11 42.17 790.04 832.21
Sep-11 32.43 801.43 833.86
Aug-11 42.42 806.42 848.84
Jul-11 34.77 812.66 847.43
Jun-11 44.72 798.53 843.25
May-11 56.39 803.55 859.94
Apr-11 44.61 814.95 859.56
Mar-11 37.1 771.53 808.63
Feb-11 77.51 695.08 772.59
Jan-11 40.05 648.23 688.28
Dec-10 32.11 617.5 649.61
Nov-10 30.47 599.97 630.44
Oct-10 15.38 590.42 605.80
Sep-10 18.18 563.2 581.38
Aug-10 37.4 560.59 597.99
Jul-10 22.55 556.51 579.06
Jun-10 23.46 563.73 587.19
May-10 67.83 558.16 625.99
Apr-10 33.33 574.65 607.98
Mar-10 14.79 557.88 572.67
Feb-10 33.25 530.62 563.87
Jan-10 41.68 545.45 587.13
Dec-09 31.84534.52 566.36
Nov-09 9.54 547.65 567.95
Oct-09 48.22501.05 552.51
Sep-09 32.15493.40525.55
Aug-09 24.11 509.70 533.81
Jul-09 45.03460.73 505.76
Jun-09 43.44457.87501.31
May-09 66.56383.18 449.74
Apr-09 19.81370.12389.93


Everllence 8L51/60DF engine. German ferry operator TT-Line cuts CO2 emissions with bio-LNG switch  

TT-Line reports emissions reduction after operating two Baltic Sea ferries on bio-LNG throughout 2025.

CMA CGM vessel with bunker delivery tanker alongside. CMA CGM vessel completes record biomethanol bunkering in Yangshan  

Delivery marks first time a vessel in its fleet has operated on biomethanol.

Photograph of tanker valves. Pres-Vac highlights tanker valve compliance requirements for alternative fuels  

Company outlines regulatory standards and performance criteria for pressure-vacuum relief devices on methanol and ammonia vessels.

HD Hyundai and ABS joint development project ceremony for nuclear-powered electric propulsion systems. ABS and HD Hyundai partner on nuclear propulsion for container ships  

Classification society and South Korean shipbuilder to assess feasibility for 16,000-teu vessel.

Japan Engine Corporation (J-ENG) logo. Japan Engine Corporation extends ammonia engine licence to Akasaka Diesels  

J-ENG grants domestic partner rights to manufacture alternative-fuel engines for decarbonisation efforts.

Photograph of ship with overlaid encircled text of EU regulations. DNV to host webinar on FuelEU Maritime compliance strategies  

Classification society offers insights as first reporting period closes and verification phase begins.

Photograph of ship with overlaid text showing narrowing MGO-biodiesel price spread. Biodiesel–MGO price spread narrows to $400–500/mt in Northwest Europe  

Bunker One says tighter spread creates opportunities for shipping companies pursuing decarbonisation targets.

Graphic for webinar 'Exmar: preparing to sail using ammonia as a marine fuel'. Exmar to discuss ammonia-fuelled vessel operations in webinar  

Shipowner will explore safety measures and partnerships for new dual-fuel ammonia carriers.

Aerial view of a container vessel. Skuld reports engine damage from CNSL biofuel blends amid rising alternative fuel adoption  

Marine insurer details operational challenges with biofuels, including FAME, CNSL and UCOME across member vessels.

Graphic for Exmar webinar titled titled 'Exmar: preparing to sail using ammonia as a marine fuel'. Event date: 15 April 2026. GRM and Bunker Holding to host webinar on Middle East war's impact on energy markets  

Webinar on 9 March will examine effects on crude oil, bunker and gas markets.