On October 25, the MABUX World Bunker Index, calculated based on current prices for 380 HSFO, VLSFO, and MGO, continued its steadfast descent.
380 HSFO – USD/MT – 562.50 (-7.13)
VLSFO – USD/MT – 671.52 (-7.84)
MGO – USD/MT – 986.93 (-8.80)
HSFO Trends
As of Oct. 25, the MABUX MBP/DBP Index (MDI) (the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP)), registered the following trends across the four selected ports: Rotterdam, Singapore, Fujairah, and Houston.
– HSFO segment: All four ports were undervalued. The undercharge premium slightly narrowed by $4 in Rotterdam, remained unchanged in Singapore and Houston, but widened by $3 in Fujairah.
VLSFO Trends
– VLSFO segment: Singapore moved to overcharge zone with premium increasing by $3. The other three ports were undervalued with margins decreasing by $7 in Rotterdam, $3 in Fujairah and $4 in Houston. Singapore stays close to 100-percent correlation mark between market price and digital benchmark.
MGO LS Trends
– MGO LS segment: All selected ports remained undercharged with the underprice premium dropped by $30 in Rotterdam, $15 in Singapore and $30 in Fujairah, but rose by $4 in Houston. Undercharge ratio in Rotterdam and Singapore dropped below $100 mark.
We expect the state of uncertainty to prevail in the Global bunker market on Oct. 26: 380 HSFO – plus 4-8 USD/MT, VLSFO – plus 5-9 USD/MT, MGO LS – minus 1-5 USD/MT.
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Source: MABUX
