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MABUX: Bunker prices may continue to rise on Nov 09

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) increased on November 8, 2021:

380 HSFO / USD/MT – 515.44 (+7.99)
VLSFO / USD/MT – 639.92 (+5.59)
MGO / USD/MT – 766.94 (+6.89)

As of Nov. 08, 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 two out of four ports: in Rotterdam – minus $ 10 (no changes), in Singapore – minus $7 (minus $4 the day before). At the same time, in Fujairah the 380 HSFO fuel grade was overvalued by plus 11 (plus $12 the day before) while in Houston MABUX MBP 100% correlated to DBP Index. There were no significant changes registered on Nov.08.

VLSFO, according to the MABUX MBP / DBP Index, was overcharged on Nov. 08 in three out of four selected ports. The overcharge ratio was in Rotterdam – plus $5 (plus $8 the day before), in Singapore – by plus $18 (plus $24), in Fujairah –plus $28 (plus $38 the day before). This fuel grade was undercharged Houston by minus $6 (plus $7 the day before). The most significant changes for VLSFO were registered in Fujairah (the decrease of $10) and Houston (the decrease of $13).

MGO LS, according to the MABUX MBP / DBP Index, remained underestimated on Nov. 08 in two out of four selected ports: in Rotterdam – minus $ 49 (minus $51), minus $ 35 (minus $ 31) in Singapore. In Fujairah and Houston the VLSFO fuel grade was overcharged by plus $10 (plus $ 9 and plus $20 the day before respectively) The most significant changes were registered in Houston (the decrease of $10) on Nov.08.

We expect global bunker prices may demonstrate slight upward changes today: prices for 380 HSFO and VLSFO may increase by 3-5 USD/MT, prices for MGO may rise by 4-6 USD/MT

Source: www.mabux.com