MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO) turned to downtrend on Aug. 22.
The downtrend on Aug 22
380 HSFO – USD/MT – 562.07 (-4.28)
VLSFO – USD/MT – 665.09 (-4.97)
MGO – USD/MT – 969.55 (-1.46)
Port
As of Aug. 22, 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: Three selected ports: Rotterdam, Singapore and Houston – remained slightly overcharged. The overprice premium continued narrowing by $10 in Rotterdam, by $3 in Singapore and by $13 in Houston. Fujairah was the only underpriced port. The undercharge ratio increased by another $17.
– VLSFO segment: Three selected ports: Rotterdam, Fujairah and Houston – were undercharged. The underprice premium increased in Rotterdam by $5 and in Fujairah by $4 but decreased by $2 in Houston. Singapore was slightly overcharged approaching to 100 percent correlation point with overcharged ratio dropping by $10.
– MGO LS segment: The only fuel type where all four selected ports are undercharged. The underprice margins continued widening by $9 in Rotterdam, by $17 in Singapore and by $6 in Fujairah but narrowing by $8 in Houston.
We do not expect a sustainable trend in Global bunker market on Aug.23: 380 HSFO – minus 1-3 USD/MT, VLSFO – minus 1-3 USD/MT, MGO LS – plus-minus 1-5 USD/MT.
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Source: MABUX
