- The Marine Bunker Exchange (MABUX) reported a notable increase in global bunker indices, with significant gains observed in 380 HSFO, VLSFO, and MGO indices.
- Additionally, the Global Scrubber Spread experienced modest growth, while varied price differentials were noted in Rotterdam and Singapore.
- Gas price outlooks and LNG as bunker fuel trends were also highlighted, along with insights into the Market Development Index (MDI) across selected ports.
The 380 HSFO index climbed by US$11.49 to US$547.67/MT, while the VLSFO index saw a gain of US$15.95, reaching US$693.06/MT, nearing the US$700 threshold. Additionally, the MGO index surged by US$18.91 to US$914.15/MT, surpassing the US$900 mark. The Global Scrubber Spread also experienced modest growth, rising by US$4.46 to reach US$145.39, with Rotterdam and Singapore showing varied price differentials.
Gas Price Outlook and LNG as Bunker Fuel
Gas prices in Europe may plummet to as low as US$6.70 per million British thermal units (MMBtu) during the upcoming summer season due to a mild winter and ample gas inventories. Meanwhile, LNG as bunker fuel saw a moderate price increase at the port of Sines in Portugal, reaching US$679/MT on 19 March, widening the price gap between LNG and traditional fossil fuels.
Market Development Index (MDI) Trends
The MDI index, comparing market bunker prices to the MABUX digital bunker benchmark across selected ports, displayed varied trends in the 380 HSFO, VLSFO, and MGO LS segments, with undervalued and overvalued ports consistent throughout the week. However, no consistent trend has been observed in the MDI index yet.
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Source: Container News
