Slight Decline Expected In Global Bunker Indices

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Credits: Venti-views-unsplash

On October 30, the MABUX World Bunker Index, calculated based on current prices for 380 HSFO, VLSFO, and MGO, experienced minimal and sporadic fluctuations.

380 HSFO – USD/MT – 555.67 (-0.75)

VLSFO – USD/MT – 671.95 (+1.91)

MGO – USD/MT – 976.05 (-5.09)

HSFO Underpricing

As of Oct. 30, the MABUX MBP/DBP Index (MDI), which tracks the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), registered the underpricing of all types of fuel in four selected ports: Rotterdam, Singapore, Fujairah, and Houston.

– HSFO segment: The undercharge premium has widened by $8 in Rotterdam, $20 in Singapore, $10 in Fujairah, and $17 in Houston. Fujairah’s and Singapore’s undervalue ratio are above the $100 mark.

VLSFO Underpricing

– VLSFO segment: Singapore has returned to the undercharge zone, so that all four selected ports are underpriced now. The overpricing margins increased by $12 in Rotterdam, $18 in Singapore, $14 in Fujairah and $19 in Houston.

MGO LS Underpricing

– MGO LS segment: Underpricing continues to dominate the fuel segment. The undercharge ratio dropped by $5 in Rotterdam and $8 in Fujairah, but rose by $4 in Singapore and $17 in Houston.

We expect Global bunker indices to decline on Oct. 31: 380 HSFO – minus 5-12 USD/MT, VLSFO – minus 5-18 USD/MT, MGO LS – minus 8-18 USD/MT.

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Source: MABUX