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 10:
380 HSFO / USD/MT – 522.51 (+6.12)
VLSFO / USD/MT – 655.58 (+9.64)
MGO / USD/MT – 777.60 (+7.48)
As of Nov. 10, 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 three out of four ports: in Rotterdam – minus $ 12 (minus $10 the day before), in Singapore – minus $17 (minus $15 the day before), in Houston – minus $4 (minus $1 the day before). At the same time, in Fujairah the 380 HSFO fuel grade was overvalued by plus $15 (plus $14 the day before). There were no significant changes registered on Nov.10.
VLSFO, according to the MABUX MBP / DBP Index, was overcharged on Nov. 10 in two out of four selected ports. The overcharge ratio was in Singapore – plus $18 (plus $17 the day before), in Fujairah – by plus $25 (plus $18). In Rotterdam and Houston this fuel grade was undercharged by minus $4 and minus $23 respectively (plus $1 and minus $10 the day before respectively). The most significant changes for VLSFO were registered Houston – the decrease of $13).
MGO LS, according to the MABUX MBP / DBP Index, remained underestimated on Nov. 10 in two out of four selected ports: in Rotterdam – minus $ 47 (minus $51), minus $ 32 (minus $ 30) in Singapore. In Fujairah and Houston the MGO LS fuel grade was overcharged by plus $1 and $6 respectively (minus $ 2 and plus $8 the day before respectively) There were no significant changes registered on Nov.10
We expect global bunker prices may demonstrate downward changes today today: prices for 380 HSFO and VLSFO may decrease by 5-10 USD/MT, prices for MGO may decline by 3-6 USD/MT