GlossaryEN1 min readUpdated: Jul 24, 2026
Bunker Price
The bunker price is the market rate shipping lines and vessel operators pay for marine fuel, quoted daily in USD per tonne at major bunkering ports worldwide.
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Source: https://www.bunkerindex.com/
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Definition & Explanation
The bunker price is the market rate shipping lines and vessel operators pay for marine fuel, quoted daily in USD per tonne at major bunkering ports worldwide. It reflects crude oil benchmarks, refinery crack spreads, and local supply-demand conditions, and differs by fuel grade: HFO 380 cSt, Marine Gas Oil (MGO), and alternative fuels such as LNG or methanol each trade at distinct levels. Because fuel typically represents the single largest variable cost on any voyage, even moderate price swings materially affect profitability. Carriers respond with fuel hedging strategies and bunkering port optimization—selecting where to refuel based on price, availability, and route deviation cost. The bunker price feeds directly into the Bunker Adjustment Factor (BAF) that appears on freight invoices, while the extra cost of low-sulphur grades is passed on separately via the Low Sulphur Surcharge (LSS).
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