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) decreased on Nov.18:
380 HSFO / USD/MT – 494.10 (-7.57)
VLSFO / USD/MT – 631.01 (-7.09)
MGO / USD/MT – 749.62 (-10.20)
As of Nov. 18., 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 $ 15 (minus $18 the day before), in Singapore – minus $10 (minus $12 the day before). At the same time, the 380 HSFO fuel grade was overvalued in Houston by plus $5 (minus $6 the day before). In Fujairah MABUX MBP Index 100% correlated to DBP Index (plus $3 the day before). There were no significant changes registered on Nov.18.
VLSFO, according to the MABUX MBP / DBP Index, was overcharged on Nov. 18 in three out of four selected ports. The overcharge ratio was registered in Singapore – plus $24 (plus $23 the day before), in Fujairah – by plus $23 (plus $17), in Houston by plus $7 (minus $6). In Rotterdam this fuel grade was undercharged by minus $5 (minus $13 the day before). The most significant changes on Nov.18 for VLSFO were registered in Houston where the underestimation level declined by $13 and the cost of VLSFO became overcharged.
MGO LS, according to the MABUX MBP / DBP Index, remained underestimated on Nov. 18 in two out of four selected ports: in Rotterdam – minus $ 49 (minus $45), minus $ 27 (no changes) in Singapore. In Fujairah the MGO LS fuel grade was overcharged by plus $9 (plus $ 12 the day before). In Houston MABUX MBP Index 100% correlated to DBP Index (plus $8 the day before). The most significant changes on Nov.18 for MGO LS were registered in Houston – the overcharge decline to $0 by $8.
We expect global bunker prices may demonstrate irregular changes today: prices for 380 HSFO and for VLSFO may increase by 3-6 USD/MT, prices for MGO may change within plus/minus 1-3 USD/MT.