Global bunker prices may turn into upward correction today
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 downward trend on Aug.10:
380 HSFO – USD/MT – 440.40 (-1.23)
VLSFO – USD/MT – 541.99 (-1.44)
MGO – USD/MT – 629.94 (-3.96)
The MABUX ARA LNG Bunker Index, calculated as the average price of LNG as a marine fuel in the ARA region, decreased moderately on August 11: 916.19 USD / MT (minus 3.05 USD). The LNG Bunkering Index exceeds the cost of MGO LS in the port of Rotterdam by USD 361.19 (USD 555 / MT as of August 10), the difference in price compared to the day before has decreased by USD 21.05. LNG bunker indices are available at www.mabux.com.
As of August 10, 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, except Fujairah, where MBP/DBP Index registered a sharp overpricing growth (plus $ 29 versus minus $ 3 the day before). Underestimation ratio in other ports was minus $ 11 in Houston (minus $ 12 compared to the day before), minus $ 26 (minus $ 38) in Rotterdam and minus $ 32 (minus $ 31) in Singapore.
VLSFO, according to the MABUX DBP Index, was underestimated in all selected ports on August 10. The VLSFO underpricing was minus $ 2 in Houston (unchanged), minus $ 16 (minus $ 36) in Fujairah, minus $ 26 (minus $ 31) in Singapore and minus $ 17 (minus $ 41) in Rotterdam. The underestimation margins of this type of fuel, according to the MBP / DBP Index, narrowed sharply in Fujairah (minus $ 20) and in Rotterdam (minus $ 24).
MABUX MBP/DBP Index also registered the underpricing of MGO LS at all selected ports on August 10: in Houston – minus $ 13 (minus $ 14 a day earlier), in Rotterdam – minus $ 47 (minus $ 83), minus $ 62 (minus $ 72) in Singapore and minus $ 42 (minus $ 60) in Fujairah. The most significant change was the decline of underpricing margin in Rotterdam (by minus $ 36).
We expect global bunker prices may turn into upward correction today: 380 HSFO – plus 8-10 USD/MT, VLSFO – plus 10-13 USD/MT, MGO LS – plus 11-17 USD/MT.
Source: www.mabux.com
