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MABUX: Firm upward trend to continue on Global bunker market on Nov 10


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) continued surging on November 09:

380 HSFO / USD/MT – 516.39 (+0.95)
VLSFO / USD/MT – 645.94 (+4.95)
MGO / USD/MT – 770.12 (+2.64)

As of 09 November, 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 ports out of four selected ports, with the exception of Fujairah, where 380 HSFO fuel was still overestimated by $ 14 (minus $ 11 a day earlier). Underpricing margins in other ports were: in Rotterdam – minus $ 10 (unchanged from the day before), in Singapore – minus $ 15 (minus $ 7) and in Houston – minus $ 1 (100% correlation the day before.) All the 380 HSFO indices have changed insignificantly.

VLSFO, according to the MABUX MBP / DBP Index, was overpriced on November 9 at three of the four ports selected: Rotterdam – plus $ 1 (plus $ 4 the day before), Singapore – plus $ 17 (plus $ 18) and Fujairah – plus $ 18 (plus 28). The only port where the MABUX MBP / DBP Index has registered an underestimation of VLSFO is Houston – minus $ 10 (minus $ 6).

As for the MGO LS, according to the MABUX MBP / DBP Index, this fuel grade was underestimated on November 09 in three out of the four ports selected. The underestimation rates were recorded as: in Rotterdam – minus $ 51 (minus $ 49 the day before), in Singapore – minus $ 30 (minus $ 35) and in Fujairah – minus $ 2 (plus $ 10). In Houston, the MABUX MBP / DBP Index has registered an overpricing by plus $ 8 (plus $ 10).

We expect global bunker prices to continue upward evolution today: 380 HSFO – plus 6-13 USD/MT, VLSFO – plus 8-15 USD/MT, MGO LS – plus 7-12 USD/MT.

Source: www.mabux.com