On November 7, the MABUX World Bunker Index, which is based on current prices for 380 HSFO, VLSFO, and MGO, sustained a minor decline.
380 HSFO – USD/MT – 538.95 (-4.29)
VLSFO – USD/MT – 679.59 (-3.78)
MGO – USD/MT – 950.86 (-6.64)
HSFO Overpriced
As of Nov. 07, the MABUX MBP/DBP Index (MDI), which tracks the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), has recorded the following trends in four selected ports: Rotterdam, Singapore, Fujairah, and Houston.
– HSFO segment: All four selected ports were undercharged, with the underprice premium widening further by $5 in Rotterdam, $9 in Singapore, $23 in Fujairah and $14 in Houston.
VLSFO Underpriced
– VLSFO segment: Singapore and Fujairah remained overcharged, with overprice margins decreasing by $12 in Singapore and increasing by $3 in Fujairah. Rotterdam and Houston were underpriced, with the undercharge premium increasing by $7 in Rotterdam and $10 in Houston.
MGO LS Underpriced
– MGO LS segment: In all four selected ports, there is still an underpricing trend. The undercharge ratio rose by $8 in Rotterdam, $14 in Singapore, $14 in Fujairah and $23 in Houston. The underprice premium in Rotterdam and Singapore remained well above the $100 mark.
We expect Global bunker indices to continue a sustainable downtrend on Nov. 08: 380 HSFO – minus 7-12 USD/MT, VLSFO – minus 8-15 USD/MT, MGO LS – minus 8-20 USD/MT.
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Source: MABUX
