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MABUX: No firm trend on Global bunker market on Nov 12


Bunker prices for 380 HSFO and VLSFO fuel grades do not have any firm trend today

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) edged downwards on Nov.11:

380 HSFO / USD/MT – 509.81 (-13.93)
VLSFO / USD/MT – 642.58 (-13.96)
MGO / USD/MT – 769.75 (-8.79)

As of November 11, 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 two of the four ports selected: Rotterdam – minus $ 18 (minus $ 12 the day before) and in Singapore – minus $ 11 (minus $ 17). In Fujairah and Houston, the MABUX MBP / DBP Index registered an underpricing of 380 HSFO fuel grade: plus $ 18 (plus $ 15) and plus $ 7 (minus $ 4) respectively. On the whole, the MABUX MBP / DBP Index’s rates for all ports selected are close to 100% correlation.

VLSFO, according to the MABUX MBP / DBP Index, was overpriced on November 11 at three ports out of four selected: in Rotterdam – plus $ 1 (minus $ 4 compared to the day before), in Singapore – plus $ 27 (plus $ 18) and in Fujairah – plus $ 36 (plus 25). The only port where the MABUX MBP / DBP Index has registered an underestimation of VLSFO is Houston – minus $ 10 (minus $ 23).

As for MGO LS, according to the MABUX MBP / DBP Index, this fuel grade was underestimated on November 11 at three of the four ports selected. The underestimation margins were: in Rotterdam – minus $ 61 (minus $ 47 the day before), in Singapore – minus $ 45 (minus $ 32) and in Fujairah – minus $ 9 (plus $ 1). In Houston, the MABUX MBP / DBP Index has recorded an overcharge of the MGO LS by plus $ 20 (plus $ 6).

We expect bunker prices for 380 HSFO and VLSFO fuel grades do not have any firm trend today: plus-minus 1-3 USD/MT, while MGO LS price may decline by 5-15 USD/MT.

Source: www.mabux.com