The Bunker Review was contributed by Marine Engineering Bureau (MABUX)
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) declined on October 28:
380 HSFO – USD/MT – 518.85 (-13.60)
VLSFO – USD/MT – 645.24 (-11.58)
MGO – USD/MT – 768.92 (-10.28)
As of October 28, 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 grade was undervalued in three out of four ports: in Rotterdam – minus $ 15 (minus $ 4 the day before), in Singapore – minus $22 (minus $1 the day before), and in Fujairah – minus $6 (plus $2 the day before). In Houston the 380 HSFO fuel grade remained overvalued – by plus $ 1 (minus $6 the day before). The most significant changes were registered in Singapore – the decrease of $21.
VLSFO, according to the MABUX MBP / DBP Index, was undercharged on October 28 in three out of four selected ports. The overcharge ratio was in Rotterdam – plus $5 (plus $7 the day before). This fuel grade was undercharged: in Singapore – by minus $2 (no change), in Fujairah –minus $10 (plus $2 the day before) and Houston by minus $2 (minus $7 the day before). The most significant changes for VLSFO were registered in Fujairah (the decrease of $12).
MGO LS, according to the MABUX MBP / DBP Index, remained underestimated on October 28 in all selected ports except of Houston: in Rotterdam – minus $ 44 (minus $46), minus $ 38 (minus $ 33) in Singapore, minus $ 15 (minus $ 26) in Fujairah. In Houston MBP Index 100% correlated to DBP index (minus $12 the day before). The most significant changes were registered in Fujairah and Houston (the decrease of $11 and increase of $12 respectively) on Oct.28.
We expect global bunker prices may demonstrate irregular changes today today: prices for 380 HSFO and VLSFO may change within plus/minus 1-3 USD/MT, prices for MGO may decline by 5-7 USD/MT
Source: www.mabux.com
