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) continued drifting lower on November 15:
380 HSFO / USD/MT – 503.05 (-0.66)
VLSFO / USD/MT – 639.68 (-2.15)
MGO / USD/MT – 763.57 (-1.85)
As of November 15, 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 out of four ports selected: Rotterdam – minus $ 23 (minus $ 21 the day before) and in Singapore – minus $ 20 (minus $ 19). In Fujairah and Houston, the MABUX MBP / DBP Index has registered an overcharge of 380 HSFO fuel: plus $ 9 (plus $ 13) and plus $ 4 (minus $ 8), respectively. There are no major changes in the MABUX MBP / DBP Index for 380 HSFO fuel.
VLSFO, according to the MABUX MBP / DBP Index, was overpriced on November 15 at two of the four ports selected: Singapore – plus $ 26 (unchanged from the day before) and Fujairah – plus $ 14 (plus 34). In Rotterdam and Houston, the MABUX MBP / DBP Index has recorded an underpricing of VLSFO fuel grade – minus $ 7 (minus $ 4) and minus $ 12 (minus $ 9). The most significant change was the $ 20 reduction in the VLSFO overvaluation at the port of Fujairah.
As for MGO LS, according to the MABUX MBP / DBP Index, this fuel grade was underestimated on November 15 at two out of four ports selected: in Rotterdam – minus $ 31 (minus $ 33 the day before), in Singapore – minus $ 25 (minus $ 22). Meantime, in Fujairah and Houston, the MABUX MBP / DBP Index has registered an overcharge of MGO LS by plus $ 20 (plus $ 19) and plus $ 11 (plus $ 16), respectively.
The price of LNG bunker fuel at the port of Sines (Portugal) raised on November 15 from 1879 USD / MT up to 1931 USD / MT, while the price of MGO LS stayed stable at 752 USD / MT. Due to extremely high prices for LNG, bunkering operations with this type of fuel are very limited so far.
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 1-8 USD/MT.
Source: www.mabux.com
