Variable Trends Define Global Bunker Market Dynamics

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Mfame Editor
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265

On January 23, there was a marginal uptick observed in the MABUX World Bunker Index, which is calculated using prevailing prices for 380 HSFO, VLSFO, and MGO.

380 HSFO – USD/MT – 501.88 (+0.47)

VLSFO – USD/MT – 647.48 (+4.55)

MGO – USD/MT – 890.55 (+1.16)

HSFO Undercharge

As of Jan.23, the MABUX MBP/DBP Index (MDI), monitoring the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), has revealed the following trends at four selected ports: Rotterdam, Singapore, Fujairah, and Houston.

– HSFO segment: All four selected ports remained undercharged, with the underprice premium widening further by $7 in Rotterdam, $4 in Singapore, $3 in Fujairah, and $13 in Houston. MDI index in Fujairah exceeded the $100 mark.

VLSFO Undercharge

– VLSFO segment: Rotterdam and Houston were in the undercharge zone, with the underprice ratio increasing by $3 in Rotterdam and remaining unchanged in Houston. Singapore and Fujairah continued to be overcharged, with the premium decreasing by $9 in Singapore and $10 in Fujairah.

MGO LS Undercharge

– MGO LS segment: All four selected ports stayed in the undercharge zone. The undercharge margins have dropped by $2 in Rotterdam, have risen by $3 in Fujairah, and remained unchanged in Singapore and Houston.

We expect Global bunker indices to shift to a rangebound phase on Jan.24: 380 HSFO – plus-minus 1-3 USD/MT, VLSFO – plus-minus 1-4 USD/MT, MGO LS – plus-minus 1-8 USD/MT.

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Source: MABUX

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