On August 30th, there was a slight upward trend observed in the MABUX World Bunker Index, which is calculated based on current prices for 380 HSFO, VLSFO, and MGO.
380 HSFO – USD/MT – 565.15 (+2.72)
VLSFO – USD/MT – 667.08 (+1.70)
MGO – USD/MT – 997.54 (+10.34)
HSFO Overcharge
As of Aug. 30, the MABUX MBP/DBP Index (MDI) (the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP)), recorded the following changes in four selected ports: Rotterdam, Singapore, Fujairah and Houston:
– HSFO segment: Rotterdam and Houston remained overcharged, with the premium narrowing in Rotterdam by $2 and in Houston by $20. Singapore and Fujairah, on the contrary, were underpriced with Singapore’s undercharge margin expanding by $2 and Fujairah’s by $6.
VLSFO Market Update
– VLSFO segment: Fujairah transitioned into undercharge area and joined Rotterdam. The undercharge premium rose by $5 in Rotterdam and by $9 in Fujairah. Singapore remained the only overpriced port while the gap narrowed by another $7, but the gap lessened by an additional $7, nearing a 100 percent MDI correlation’s mark between market price and digital benchmark, while Houston reached this mark.
MGO LS Market Update
– MGO LS segment: All four selected ports remained undervalued. The undercharge premium narrowed across all ports: by $22 in Rotterdam, by $15 in Singapore, by $12 in Fujairah and by $1 in Houston.
Global bunker market to continue irregular changes with no firm trend on Aug.31: 380 HSFO – plus 1-4 USD/MT, VLSFO – plus 1-4 USD/MT, MGO LS – minus 2-20 USD/MT.
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Source: MABUX
