- Anticipating a firm downward trend in Global Bunker Indices.
- Singapore and Fujairah remained overcharged, with decreased overpricing margins.
- MABUX World Bunker Index recorded a slight downward trend.
Bunker Index Trends
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO, and MGO) continued a slight downward trend on Jan.08 despite the uptrend forecast the day before:
380 HSFO – USD/MT – 515.42 (-4.46)
VLSFO – USD/MT – 641.71 (-4.71)
MGO – USD/MT – 880.46 (-1.00)
HSFO Overpriced
As of Jan. 08, the MABUX MBP/DBP Index (MDI), monitoring the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), observed the following trends across four selected ports: Rotterdam, Singapore, Fujairah, and Houston.
– HSFO segment: Houston remained in the overcharge zone, with the overprice premium narrowing further by $8. The other three selected ports were undercharged, with the underpricing premiums widening by $1 in Rotterdam, $29 in Singapore, and $11 in Fujairah.
VLSFO Overpriced
– VLSFO segment: Rotterdam and Houston experienced underpricing, with premiums increasing by $11 in Rotterdam and $7 in Houston. Singapore and Fujairah remained overcharged, with overpricing margins dropping by $29 in Singapore and $26 in Fujairah.
MGO LS Overpriced
– MGO LS segment: Fujairah remained the only overcharged port with premium increasing by $2. The other three selected ports were undercharged. The underprice ratio increased further by $11 in Rotterdam, $12 in Singapore, and $5 in Houston.
We expect the Global bunker indices to continue a firm downward trend on Jan.09: 380 HSFO – minus 5-12 USD/MT, VLSFO – minus 5-16 USD/MT, MGO LS – minus 6-12 USD/MT.
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Source: MABUX
