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) showed insignificant irregular changes on Oct.29:
380 HSFO / USD/MT – 518.45 (-0.40)
VLSFO / USD/MT – 645.83 (+0.59)
MGO / USD/MT – 768.24 (-0.68)
As of October 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 was undervalued in three out of four ports: in Rotterdam – minus $ 9 (minus $ 15 the day before), in Singapore – minus $ 20 (minus $ 22) and in Houston – minus $ 3 (plus $ 1). In Fujairah, MABUX MBP / DBP Index registered an overpricing by $ 1 (minus $ 6 a day earlier). Overall, 380 HSFO prices in the world’s largest ports remain stable.
VLSFO, according to the MABUX MBP / DBP Index, moved into the overcharge sector on October 29 in all selected ports, apart from Singapore, where the Index registered an undercharge by $ 2 (unchanged from the day before). The overpricing margins in other ports were: in Rotterdam – plus $ 4 (plus $ 5 the day before), in Fujairah – plus $ 7 (minus $ 10), in Houston – plus $ 5 (minus $ 2). The most significant Index change was the growth of VLSFO overcharge rate at the port of Fujairah by 17 points.
MGO LS, according to the MABUX MBP / DBP Index, remained undervalued on October 29 in all selected ports except Fujairah, where a $ 4 overestimate was recorded (minus $ 15 a day earlier). In other ports, the underpricing rates were: in Rotterdam – minus $ 28 (minus $ 44 the day before), minus $ 27 (minus $ 28) in Singapore and minus $ 2 (100% Index correlation the day before) in Houston. The most significant change of the MABUX MBP / DBP Index was recorded in Rotterdam: underpricing decreased by 16 points, and in Fujairah: a move into the overprice sector and a change by 19 points.
We expect global bunker prices do not have any firm trend today: 380 HSFO – 0-plus 4 USD/MT, VLSFO – 0-plus 6 USD/MT, MGO LS – plus-minus 4-10 USD/MT.