Bio-VLSFO, or Bio-blended VLSFO, is a blend of very-low-sulphur fuel oil (VLSFO) and biofuel. The ratio of biofuel is generally either 24% (B24 biofuel) or 30% (B30 biofuel).
IFO 180, or HSFO 180, is an intermediate fuel oil (IFO) with a maximum kinematic viscosity of 180 centistoke (cSt) at 50 degrees Celsius and a maximum sulphur content of 3.5%.
IFO 380, or HSFO 380, is an intermediate fuel oil (IFO) with a maximum kinematic viscosity of 380 centistoke (cSt) at 50 degrees Celsius and a maximum sulphur content of 3.5%.
LNG is liquefied natural gas. View the 'LNG price conversion' link below for further details.
LNG-380e, or LNG IFO 380 equivalent price, is the cost of LNG required to provide the same amount of energy as contained in one metric tonne of IFO 380. View the 'LNG price conversion' link below for further details.
LNG-MGOe, or LNG MGO equivalent price, is the cost of LNG required to provide the same amount of energy as contained in one metric tonne of MGO. View the 'LNG price conversion' link below for further details.
LNG-VLSFOe, or LNG VLSFO equivalent price, is the cost of LNG required to provide the same amount of energy as contained in one metric tonne of VLSFO. View the 'LNG price conversion' link below for further details.
LSMGO, or MGO 0.1%, or low-sulphur marine gasoil, is a DMA-specification distillate fuel with a maximum sulphur content of 0.1%.
MDO, or marine diesel oil, is a DMB-specification distillate fuel with a maximum sulphur content of 0.1%.
MGO is a generic term used to refer to marine gasoil. When referring to a specific type of marine gasoil, then either the terms LSMGO or MGO 0.5% will be used.
MGO 0.5% is a DMA-specification distillate marine gasoil with a maximum sulphur content of 0.5%.
ULSFO, or ULSFO 0.1%, or ultra-low-sulphur fuel oil, is a marine fuel oil blend with a maximum sulphur content of 0.10% designed to comply with strict emission regulations in Sulphur Emission Control Areas (SECAs). It blends residual and lighter distillate components, resulting in generally lower viscosity and density than traditional heavy fuel oils.
VLSFO, or VLSFO 0.5%, or very-low-sulphur fuel oil, is a marine fuel oil blend designed to comply with the IMO 2020 global sulphur cap of 0.50%. It blends residual and lighter distillate components, resulting in generally lower viscosity and density than traditional heavy fuel oils.
$/bbl is US dollars per barrel — the standard pricing format for crude oil.
$/CBM, or $/cbm, is US dollars per cubic metre. In some ports, marine fuel is originally priced in $/CBM and then converted (either by Bunker Index or the price source) into $/MT — the main pricing format for the sale and purchase of bunker fuel worldwide — using density calculations.
$/MMBtu is US dollars per million British thermal units. LNG prices can be converted from $/MMBtu (energy basis) to $/MT (mass basis), which is the main pricing format for the sale and purchase of bunker fuel worldwide.
$/MT, or $/mt, is US dollars per metric tonne — the main pricing format for the sale and purchase of bunker fuel worldwide.
€/MWh is euros per megawatt-hour. LNG prices can be converted from €/MWh (energy basis) to $/MT (mass basis), which is the main pricing format for the sale and purchase of bunker fuel worldwide.
CBM, or cbm, is cubic metre(s). In some ports, marine fuel is originally priced in $/CBM and then converted (either by Bunker Index or the price source) into $/MT — the main pricing format for the sale and purchase of bunker fuel worldwide — using density calculations.
EUA is European Union Allowance (EUA). Each EUA is an entitlement to emit one tonne of carbon dioxide equivalent gas.
EUR/EUA, or euros per European Union Allowance (EUA), is the pricing format for the trade of EUAs.
MMT is million metric tonne(s) — metric tonne(s) being the main unit of measurement for the sale and purchase of bunker fuel worldwide.
MT, or mt, is metric tonne(s) — the main unit of measurement for the sale and purchase of bunker fuel worldwide.
USD per gallon: In some US ports, marine fuel is originally priced in USD per gallon and then converted by Bunker Index into $/MT — the main pricing format for the sale and purchase of bunker fuel worldwide.
12MMA, or 12-month moving average, takes the average of data points from the most recent 12 months, updating each month as new data becomes available and the oldest month drops out. This metric is particularly useful as it smooths out short-term fluctuations and highlights longer-term trends. Note: as 12MMA typically implies that the data is based on monthly intervals, 4QMA (4-quarter moving average) will be used when the moving average for the most recent 12 months is derived from quarterly data — in order to avoid any ambiguity.
4QMA, or 4-quarter moving average, takes the average of data points from the most recent four quarters, updating each quarter as new data comes in. Note: for the purpose of clarity, 12MMA (12-month moving average) will be used when the moving average for the most recent 12 months is derived from monthly (i.e. not quarterly) data.
CY = calendar year.
FY = financial year.
H1 = first half of the year.
H2 = second half of the year.
Mth = month.
Q1 = first quarter.
Q2 = second quarter.
Q3 = third quarter.
Q4 = fourth quarter.
Qtr = quarter.
TTM, or Trailing 12 Months (TTM), or rolling 12 months, is the sum of a metric over the most recent 12 months. It is particularly useful because it provides an overview of performance over the last 12 months, regardless of calendar-year or financial-year boundaries.
See also: