On November 2nd, there was no notable shift observed in the MABUX World Bunker Index, which is calculated based on prevailing prices for 380 HSFO, VLSFO, and MGO.
380 HSFO – USD/MT – 539.81 (+1.48)
VLSFO – USD/MT – 679.94 (-0.80)
MGO – USD/MT – 958.32 (+5.71)
HSFO Overpriced
As of Nov. 02, the MABUX MBP/DBP Index (MDI), which tracks the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), registered the following trends in four selected ports: Rotterdam, Singapore, Fujairah, and Houston.
– HSFO segment: All four selected ports were undercharged, with the undercharge premium further narrowing by $6 in Rotterdam, $15 in Singapore, $11 in Fujairah and $13 in Houston. Fujairah’s undervalue ratio is still above the $100 mark.
VLSFO Overpriced
– VLSFO segment: Singapore and Fujairah remained in the overcharge zone, with overprice margins increasing by another $25 in Singapore and $20 in Fujairah. The other two ports: Rotterdam and Houston – were undercharged. The underprice premium decreased by $14 in Rotterdam and $4 in Houston.
MGO LS Overpriced
– MGO LS segment: All four selected ports were underpriced. The undercharge ratio rose by $6 in Rotterdam, $7 in Singapore and $6 in Fujairah but dropped by $4 in Houston. Rotterdam’s and Singapore’s undercharge premiums were steadily above the $100 mark.
We expect Global bunker indices to shift to an uptrend on Nov. 03: 380 HSFO – plus 3-9 USD/MT, VLSFO – plus 5-12 USD/MT, MGO LS – plus 5-15 USD/MT.
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Source: MABUX
