Global 4 Ports Average

Terminology

Biofuel

Biofuel is a VLSFO biofuel blend, B24 in Singapore (24% biofuel) and typically a B30 (30% biofuel) elsewhere.

Brent

Brent prices are converted from USD/bbl to USD per metric tonne at a rate of 7.53 barrels per metric tonne.

EUA

EUA is the price in Euros for 1 (one) EU Emissions Allowance (EUA).

EUA-USD

EUA-USD is the USD price for 1 (one) EUA converted at the prevailing exchange rate.

EUAHSFO

EUAHSFO is the total EUA cost to offset 1 (one) metric tonne (mt) of HSFO. This price takes into account for 2024 ship owners pay only 40% of the full costs incurred, 70% in 2025 and 100% in 2026.

EUAMGO

EUAMGO is the total EUA cost to offset 1 (one) metric tonne (mt) of MGO. This price takes into account for 2024 ship owners pay only 40% of the full costs incurred, 70% in 2025 and 100% in 2026.

EUAVLSFO

EUAVLSFO is the total EUA cost to offset 1 (one) metric tonne (mt) of VLSFO. This price takes into account for 2024 ship owners pay only 40% of the full costs incurred, 70% in 2025 and 100% in 2026.

IFO380 & IFO180

IFO380 & IFO180 are Max 3.5% Sulfur Bunkers (RME, RMF, RMG, RMH, RMK, etc).

LNG

LNG is the USD price for one metric tonne of LNG.

LNG-380e

LNG-380e is the price for an amount of LNG that delivers the energy equivalent of one metric tonne of IFO380 bunker fuel.

LNG-MGOe

LNG-MGOe is the price for an amount of LNG that delivers the energy equivalent of one metric tonne of MGO.

LS180 & LS380

LS180 & LS380 are Max 1.0% Sulfur Bunkers.

LSMGO

LSMGO is Max 0.10% Sulfur Distillate (DMA, DMZ) for Compliance with 2015 ECA Regulations.

MDO

MDO is Max 1.50% Sulfur Distillate (DMB).

MEoH

MEoH is the price per tonne of pure conventional / grey methanol.

MEoH-MGOe

MEoH-MGOe is the price for a quantity of methanol that delivers the same amount of energy as one metric tonne of MGO.

MEoH-VLSFOe

MEoH-VLSFOe is the price for a quantity of methanol that delivers the same amount of energy as one metric tonne of VLSFO bunker fuel.

MGO

MGO is, unless otherwise specified, a Max 1.50% Sulfur “Clear and Bright” Distillate (DMA, DMZ, etc).

SS

SS is the ‘scrubber spread’ — the premium for 0.50%S VLSFO over >0.50%S HSFO. The spread is the price differential between the two fuels before their respective half dollar rounding, with the resulting spread then rounded to the nearest half dollar.

ULSFO

ULSFO is Max 0.10% Sulfur Fuel Oil for Compliance with 2015 ECA Regulations.

VLSFO

VLSFO is Max 0.5% Sulfur fuel (Also known as IMO2020 grade bunkers).

WTI

WTI prices are converted from USD/bbl to USD per metric tonne at a rate of 7.62 barrels per metric tonne.