Bunkerworld published price indices are not only used as the benchmark values for numerous contracts between suppliers and their customers, but also for strategic calculations. The following are examples of their use by major and diverse organisations:

Daily spot prices for over 220 ports.

• The UN: bunkerworld prices are used for the UN futures price predictions (See IMO BLG report, 12/6/1, ANNEX, page 18).
• AP Moller Maersk: bunkerworld bunker prices are a component of the ‘Maersk Line BAF calculator’ and referenced once you calculate a BAF at http://baf.maerskline.com/.
• The Ports of Long Beach and Los Angeles: use bunkerworld prices in a calculation for their distillate refund scheme (see bunkerworld news article).
• Imarex: use bunkerworld prices as the basis for its Fujaira 380s futures contract.
• WTSA (Westbound Transpacific Stabilization Agreement) and TSA (Transpacific Stabilization Agreement) use Bunkerworld's marine fuel prices as one of the key variables in their newly launched Bunker Fuel Surcharge Formulas for dry and refrigerated cargo. More information can be found at www.wtsacarriers.org/fs_bunker_newformula.html and www.tsacarriers.org.
• The UNCTAD use Bunkerworld prices to test the elasticity of transport costs with respect to bunker costs. This activity is part of their study to assess the impact of changes in fuel costs on transport costs and the resulting implications for trade.

Here’s what you need to know about the price module

Create historical comparison graphs with the Advanced Graphing Tool

• Bunkerworld’s marine fuel spot prices are comprehensive. They are collected from over 220 ports and are designed to allow quick and easy comparisons;
• Each day we offer a high price, a low price, and an average price, for IFO380, IFO180, MDO and MGO, and LS180 and LS380 where those are available;
• Unlike other price providers we are not reliant only on the broker reports. Price collection teams in each of our offices collect price data from multiple sources, including suppliers, traders, brokers and buyers;
• Price changes are updated throughout the day;
• This way, our price indication data is independent, up-to-date and reliable;
• For an additional fee you can access historical prices by fuel grade and port. The archives go back as far as 1998, making it an invaluable tool.
• Our price analysis tools allow you to compare prices in ports and construct graphs; they also show the key suppliers for each port.
• With the consumption calculator, you can get an indication of the fuel consumption required between two destinations;
• Daily futures prices – sponsored by Imarex , the world’s only regulated market for maritime derivatives.

BWI - Bunkerworld Index

You also access the Bunkerworld Index (BWI) which is a weighted daily index based on Bunkerworld Benchmark Prices from 20 key bunkering ports. Bunkerworld has extended the BWI with three new indices: The BW380, the BW180 and the BWDI. These indices are all compiled from the same 20 ports as the BWI, however, the BW380 is a daily average dollar value index of 380 centistoke (cst) bunker fuel, the BW180 is a is a daily average dollar value index of 180 centistoke (cst) bunker fuel and the BWDI is a combined daily average dollar value index of MDO (marine diesel oil) and MGO (marine gasoil) distillate fuels.

These indices provide a single number that describes the global bunker market on any particular day and tracks market movements without the need to analyse data from multiple ports or rely on main indicators from unrelated ports. The indices are transparent and independently calculated and enables users to easily track movements and improve financial management. Not only designed for bunker professionals dealing with these markets on a daily basis, they will be important for any company exposed to the global bunker market, such as multinational shippers, charterers, traders, banks and insurance companies. They are a versatile reference point with multiple applications, for example a basis for setting bunker fuel futures, swaps or OTC contracts, as well as providing an independent basis for the calculation of bunker surcharges.

To access the latest prices and archives today, buy now.

The prices module is available in the Bunkerworld Plus package or can be ordered as a component in the Bunkerworld Custom package.

What our customers say about this service

“I would recommend using Bunkerworld’s comprehensive and accurate benchmark values as core referencing indicators. The site’s unique interactive pricing tools enable port-to-port price comparisons and historic price graphing to be done quickly and easily.”

Peninsula Petroleum