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MABUX: bunker indexes may demonstrate upward changes on June 17

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 changes on June 16:

380 HSFO – USD/MT – 447.89 (+3.01)
VLSFO – USD/MT – 552.37 (+4.33)
MGO – USD/MT – 644.69 (+9.13)

MABUX ARA LNG Bunker Index, available from April 29, 2021 and calculated as the average price of LNG as a marine fuel in the ARA region, slightly increased on June 17 up to 631.90 USD/MT (-2.55 USD). The LNG Bunker Index exceeds the price of MGO LS at the Port of Rotterdam by $ 47.90 (584 USD/MT as of June 16). The price difference has slightly decreased (minus 1,38 USD compared to the previous day). More LNG Bunker Indexes on www.mabux.com.

As of June 16, 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 undervalued in all selected ports: from minus $ 21 in Fujairah (minus $ 19 the day before (t.d.b.)) to minus $ 37 (minus $ 38 t.d.b.) in Rotterdam and minus $ 52 (minus $ 54 t.d.b.) in Singapore. The were no significant changes in 380 HSFO MBP/DBP Index.

VLSFO, according to MABUX DBP Index, was also underestimated in all selected ports. The undercharging ranged from minus $ 14 in Houston (versus minus $ 13 t.d.b.) and minus $ 29 (minus $ 28 t.d.b.) in Rotterdam to minus $ 48 (minus $ 43 t.d.b.) in Fujairah and minus $ 51 (minus $ 47 t.d.b.) in Singapore. Underestimation ratio rose significantly in Fujairah: by $ 5.

On June 16, MABUX DBP Index also registered the underpricing of MGO LS in all selected ports, ranging from minus $ 14 (minus $ 18 t.d.b.) in Houston to minus $ 45 (minus $ 50 t.d.b.) in Rotterdam, minus $61 (minus $61 t.d.b.) in Singapore and minus $ 57 (minus $ 62 t.d.b.) in Fujairah. According to DBP Index, there were no significant change of underestimation level was registered in Rotterdam: a decrease of $ 5.

We expect bunker prices may demonstrate slight upward changes today: the price for 380 HSFO may increase by 1-3USD, the price for VLSFO may rise by 1-3 USD, MGO may increase by 5-7 USD.

Source: Mabux