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) showed slight upward evolution on November 19:
380 HSFO / USD/MT – 495.96 (+1.86)
VLSFO / USD/MT – 632.08 (+1.07)
MGO / USD/MT – 751.05 (+1.43)
As of November 19, 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 out of four ports selected: Rotterdam – minus $ 16 (minus $ 15 the day before), in Singapore – minus $ 10 (unchanged) and in Fujairah – minus $ 9 (versus 100% correlation the day before). In Houston, the MABUX MBP / DBP Index registered an overcharge of 380 HSFO fuel by plus $ 4 (plus $ 5).
VLSFO, according to the MABUX MBP / DBP Index, was overvalued on November 19 at three out of four ports selected: Singapore – plus $ 23 (plus $ 24 the day before), Fujairah – plus $ 18 (plus 23), and Houston – plus $ 5 (plus $ 7). In Rotterdam, the MABUX MBP / DBP Index registered an underestimation of fuel by minus $ 4 (minus $ 5). In general, VLSFO fuel grade is gradually moving into the overpricing segment.
As for MGO LS, according to the MABUX MBP / DBP Index, this fuel grade was underpriced on November 19 in three of the four ports selected: in Rotterdam – minus $ 39 (minus $ 49 the day before), in Singapore – minus $ 24 (minus $ 27) and in Houston – minus $ 1 (100% correlation the day before). The only port where the MABUX MBP / DBP Index still registers overpricing is Fujairah – plus $ 17 (plus $ 9).
We expect bunker prices to drop today: 380 HSFO – by minus 10-15 USD, VLSFO – by minus 14-19 USD, MGO LS – by minus 15-25 USD.
Source: www.mabux.com
