Spot port prices

For spot port prices (e.g. Singapore VLSFO), after data collection, Bunker Index either 1) calculates the day's midpoint of the low-high range or 2) assesses the Current Market Price (CMP) based on the latest price levels at certain times of the day, which is published together with the low-high range for the whole day. As prices can change throughout the day, they effectively act as a snapshot of current market price levels until the close of business, at 23:59:59 GMT.

Prices that do not change daily

Note that price levels for some ports do not change daily. When this is the case, Bunker Index will publish price levels as unchanged on a daily basis until there are updated prices. Examples of why price levels do not change daily in a port include:

• Official posted prices are weekly, at the start of each month, etc.
• It is a port with low demand
• It is a product with low demand

When it is a local holiday, Bunker Index will typically publish the same price levels for a port as the previous day — to reflect that price levels are unchanged because the local market is closed. For local holidays that last for more than one day, price levels published will typically be the same as the last day the local market was open.

Forward port prices

Forward port prices are published daily for all port products (e.g. Singapore VLSFO) and cover the next 12 months (as delivery months).

IFO 380, IFO 180, VLSFO & Bio-VLSFO: Calculations based on Brent futures as a global indicator.

ULSFO, MDO, MGO 0.5% & LSMGO: Calculations based on Low Sulphur Gasoil futures as a global indicator.

LNG (EMEA and APAC ports): Calculations based on Dutch TTF natural gas futures as an indicator for EMEA and APAC regions.

BIX World Indices

Bunker Index publishes the following BIX World Indices: BIX World IFO 380, BIX World VLSFO and BIX World MGO. They are unweighted simple averages of all spot port prices for IFO 380, VLSFO and MGO, respectively.

BIX World 3 Indices

Bunker Index publishes the following BIX World 3 Indices: BIX World 3 IFO 380, BIX World 3 VLSFO and BIX World 3 MGO. They are unweighted simple averages of all spot port prices in Singapore, Rotterdam and Fujairah (the largest bunker ports in Asia-Pacific, Europe and the Middle East, respectively) for IFO 380, VLSFO and MGO.

BIX Regional Indices

Bunker Index publishes indices for the Americas, APAC and EMEA regions. For each region, the following indices are published: BIX [region name] IFO 380, BIX [region name] VLSFO and BIX [region name] MGO. They are unweighted simple averages of all spot port prices in the region for IFO 380, VLSFO and MGO, respectively.

See also:

    Crude price conversion

    LNG price conversion

    Data collection