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) turned into slight downward trend on June 29:
380 HSFO – USD/MT – 455.81 (-3.02)
VLSFO – USD/MT –557.56 (-4.99)
MGO – USD/MT – 648.51 (-3.78)
The MABUX ARA LNG Bunker Index – the average price of LNG as a marine fuel in the ARA region, on June 30 continued its moderate downward trend started on June 24: 670.01 USD / MT (–1.24 USD). The LNG Bunker Index exceeds the cost of MGO LS in the Port of Rotterdam by 90.01 USD (580 USD / MT as of June 29), the difference in price compared to the day before increased by $ 9. More LNG Bunker Indices on www.mabux.com.
As of June 29, 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 ranging from minus $ 26 in Houston (minus $ 33 the day before) to minus $ 40 (minus $ 38) in Rotterdam and minus $ 42 (minus $ 46) in Singapore. The most significant change in 380 HSFO’s MBP/DBP Index was recorded in Houston (underestimation down $ 7).
VLSFO, according to the MABUX DBP Index, was also underestimated in all selected ports on June 29. The underestimation ranged from minus $ 15 in Houston (minus $ 22 the day before) and minus $ 33 (minus $ 37) in Rotterdam to minus $ 47 (minus $ 55) in Fujairah and minus $ 48 (minus $ 50) in Singapore. The most significant change in VLSFO’s MBP/DBP Index was recorded in Houston (underpricing down $ 7) and Fujairah (down $ 8).
On June 29, MABUX DBP Index also registered the underpricing of MGO LS in all selected ports ranging from minus $ 14 (minus $ 19 a day earlier) in Houston to minus $ 53 (minus $ 50) in Rotterdam, minus $ 59 (unchanged) in Singapore and minus $ 60 (minus $ 64) in Fujairah. There were no significant changes recorded in MGO LS’ MBP/DBP Index.
We expect global bunker prices do not have firm trend today and may change slightly: 380 HSFO – plus-minus 0-2 USD/MT, VLSFO – plus-minus 0-3 USD/MT, MGO LS – plus-minus 0-2 USD/MT.