Global Bunker Market Set For Upward Evolution

By
Mfame Editor
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155

  • The Global Bunker Market is anticipated to undergo an upward evolution.
  • The MABUX World Bunker Index, calculated based on current prices for 380 HSFO, VLSFO, and MGO, showed no sustainable trend and shifted sideways on January 22nd.
  • Trends observed at selected ports (Rotterdam, Singapore, Fujairah, Houston) for HSFO, VLSFO, and MGO LS segments.
  • Undercharging was noted in all ports, with the underprice premium widening in Rotterdam and Singapore but narrowing in Houston.
  • All ports are in the undercharge zone, with varying undercharge margins.

The MABUX World Bunker Index, determined by current prices for 380 HSFO, VLSFO, and MGO, lacked a consistent trend and exhibited sideways movement on January 22nd.

380 HSFO – USD/MT – 501.41 (-2.23)

VLSFO – USD/MT – 642.93 (+0.70)

MGO – USD/MT – 889.39 (-0.15)

HSFO Shifts

As of Jan.22, the MABUX MBP/DBP Index (MDI), tracking the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), has revealed the following trends at four selected ports: Rotterdam, Singapore, Fujairah, and Houston.

– HSFO segment: All four selected ports experienced undercharging, with underprice premium widening further by $4 in Rotterdam, $6 in Singapore, and $4 in Fujairah, but narrowing by $1 in Houston.

VLSFO Shifts

– VLSFO segment: Rotterdam and Houston remained in the undercharge zone, with the underprice ratio decreasing by $6 in Rotterdam and $5 in Houston. Singapore and Fujairah continued to be overcharged, with the premium increasing further by $3 in Singapore and $12 in Fujairah.

MGO LS Shifts

– MGO LS segment: All four selected ports were in the undercharge zone. The undercharge margins have risen further by $4 in Rotterdam, $11 in Singapore, and $11 in Fujairah, but dropped by $9 in Houston.

We expect Global bunker indices to show a sustained upward evolution on Jan.23: 380 HSFO – plus 2-7 USD/MT, VLSFO – plus 3-9 USD/MT, MGO LS – plus 2-8 USD/MT.

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Source: MABUX

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