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MABUX: Global bunker prices may continue firm upward trend on June 02

The Bunker Review was contributed by Marine Bunker Exchange (MABUX)

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) continued upward evolution on June 01:

380 HSFO – USD/MT – 433.88 (+5.26)

VLSFO – USD/MT – 538.48 (+7.73)

MGO – USD/MT – 627.17 (+4.80)

MABUX ARA LNG Bunker Index – the average price of LNG as a marine fuel in the ARA region, rose by 1.18 USD on June 02 and reached 600.49 USD / MT.  LNG Bunker Index exceeds the index price of MGO LS at the port of Rotterdam by 35.49 USD (565 USD/MT as of June 01). The margin continues to decrease (minus 10 USD compared to the day before). More LNG bunker indices are available at www.mabux.com.

As of June 01, a correlation of MABUX MBP Index (Market Bunker Prices) vs MABUX DBP Index (Digital Bunker Prices Benchmark) in four largest global hubs showed that 380 HSFO fuel remained underestimated in all selected ports: from minus $ 16 in Houston (minus $ 14 a day earlier) to minus $ 20 (minus $ 39) in Rotterdam and minus $ 43 (minus $ 52) in Singapore. There was registered significant change of underestimation ratio in Rotterdam and Singapore: a decrease by $ 19 and $ 9, respectively.

VLSFO, according to MABUX DBP Index, was also underpriced in all ports, including Houston, where a 100% correlation of MBP / DBP Index was recorded a day earlier. The underestimation ranged from minus $ 2 in Houston and minus $ 8 (minus $ 26 a day earlier) in Rotterdam to minus $ 31 (minus $ 45) in Fujairah and minus $ 38 (minus $ 49) in Singapore. Underestimation levels for this fuel have dropped significantly in three out of four ports.

On June 01, MABUX DBP Index also registered the undercharging of MGO LS in all selected ports, ranging from minus $ 27 (minus $ 25 a day earlier) in Houston to minus $ 34 (minus $ 47) in Rotterdam, minus $ 48 (minus $ 51) in Singapore and minus $ 51 (minus $ 55) in Fujairah. According to DBP Index, the most significant change of underestimation margin was registered in Rotterdam: a drop by $ 13.We expect global bunker prices may continue firm upward trend today: 380 HSFO – plus 3-5 USD/MT, VLSFO – plus 4-6 USD/MT, MGO LS – plus 4-6 USD/MT.

Source: www.mabux.com