MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO) turned to slight uptrend on Aug. 25:
380 HSFO – USD/MT – 558.35 (+2.02)
VLSFO – USD/MT – 660.70 (+3.87)
MGO – USD/MT – 974.04 (+6.44)
As of Aug. 25, 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, while the ratio increased by $4 in Rotterdam and by $6 in Houston. Fujairah was underpriced. The undercharge margins decreased by $1. MDI in Singapore showed 100 percent correlation between market price and digital benchmark.
– VLSFO segment: Fujairah shifted into the overcharged area, joining Singapore and Houston. Overcharge margins surged by $5 in Singapore, by $9 in Fujairah and by $1 in Houston. Rotterdam remained the only underpriced port in this segment of fuel with a ratio decreased by $9.
– MGO LS segment: All four selected ports were undercharged. Rotterdam’s margins narrowed by $14, Singapore’s – by $10 and Fujairah’s – by $1. In Houston, on the contrary, the undercharge premium widened by $5.
We expect a sustainable uptrend to continue in the Global bunker market on Aug.28: 380 HSFO – plus 3-6 USD/MT, VLSFO – plus 3-7 USD/MT, MGO LS – plus 10-20 USD/MT.
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Source: mabux
