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MABUX: Global bunker prices may turn into slight upward movement on Nov 02


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 upward evolution on November 1, 2021:

380 HSFO / USD/MT – 519.77 (+1.32)
VLSFO / USD/MT – 649.21 (+3.38)
MGO / USD/MT – 769.45 (+1.21)

As of November 1, 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 (unchanged from the day before), in Singapore – minus $ 20 (minus $ 18) and in Houston – minus $ 3 (minus $ 7). In Fujairah MABUX MBP / DBP Index registered an overpricing of the 380 HSFO by plus $ 8 (plus $ 1 a day earlier.) In general, the market for 380 HSFO fuel remains slow-moving.

VLSFO, according to the MABUX MBP / DBP Index, remained overvalued on November 01 in all selected ports, with the exception of Houston, where the Index recorded an undervaluation of $ 6 (plus $ 5 compared to the day before). The overcharge rates in other ports were: in Rotterdam – plus $ 5 (plus $ 4 the day before), in Singapore – plus $ 2 (minus $ 2), in Fujairah – plus $ 15 (minus $ 7). The most significant change of VLSFO MBP/DBP Index was registered in Houston: the underestimation margin has widened by 11 points.

As for MGO LS, this fuel grade remained underestimated on November 01 in all selected ports, except for Houston, where an overcharge of $ 2 was recorded (minus $ 2 a day earlier). In other ports, the underestimation margins were: in Rotterdam – minus $ 30 (minus $ 28 compared to the day before), minus $ 27 (unchanged) in Singapore and minus $ 2 (plus $ 4) in Fujairah. There were no significant changes of the MABUX MBP / DBP Index correlation registered for MGO LS fuel.

We expect global bunker prices may turn into slight upward movement today: 380 HSFO – plus 1-3 USD/MT, VLSFO – plus 1-3 USD/MT, MGO LS – plus 4-7 USD/MT.

Source: www.mabux.com