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MABUX: Global bunker prices may decline sharply on Nov 04


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) decreased slightly on November 03:

380 HSFO / USD/MT – 517.42 (-2.62)
VLSFO / USD/MT – 644.79 (-4.04)
MGO / USD/MT – 768.32 (-3.45)

As of November 03, 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 all selected ports. Underestimation rates we registered as: Rotterdam – minus $ 21 (minus $ 14 compared to the day before), in Singapore – minus $ 24 (minus $ 18), in Fujairah – minus $ 1 (plus 9) and in Houston – minus $ 10 (minus $ 9). Undercharge margins rose slightly.

VLSFO, according to the MABUX MBP / DBP Index, remained undervalued on November 03 in three of the four selected ports: in Rotterdam – minus $ 7 (minus $ 1 the day before), in Singapore – minus $ 3 (plus $ 6) and in Houston – minus $ 12 (minus $ 8). The only port where VLSFO fuel overestimation has been recorded is Fujairah – plus $ 16 (unchanged from the day before).

MGO LS, according to the MABUX MBP / DBP Index, was underestimated on November 03 in all selected ports. The undercharge rates were: in Rotterdam – minus $ 42 (minus $ 34 compared to the previous day), minus $ 35 (minus $ 31) in Singapore, minus $ 1 (minus $ 5) in Fujairah, and minus $ 6 in Houston (plus $ 5). There were still no significant changes in the MABUX MBP / DBP Index’s correlation for MGO LS fuel.

We expect global bunker prices may decline sharply today following downward trend on crude market: 380 HSFO – minus 10-15 USD/MT, VLSFO – minus 15-20 USD/MT, MGO LS – minus 17-22 USD/MT.

Source: www.mabux.com