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) turned into slight upward correction on December 03:
380 HSFO / USD/MT – 461.39 (+2.66)
VLSFO / USD/MT – 599.89 (+6.48)
MGO / USD/MT – 708.15 (+4.22)
Correlation of MABUX MBP Index (market bunker prices) vs MABUX DBP Index (MABUX digital bunker benchmark) on December 03 showed an overestimation of 380 HSFO fuel in three out of four selected ports, with the exception of Singapore, where there was an underpricing by $ 1 (minus $ 2 a day earlier). In other ports, the overcharge margins were registered as: in Rotterdam – plus $ 3 (minus $ 1 the day before), in Fujairah – plus $ 11 (minus $ 9) and in Houston – plus $ 51 (plus $ 67). In general, 380 HSFO fuel Index tends to 100% correlation.
VLSFO, according to the MABUX MBP / DBP Index, was overvalued on December 03 in all ports selected: in Rotterdam – plus $ 41 (plus $ 37 the day before), in Singapore – plus $ 98 (plus $ 83), in Fujairah – plus $ 66 (plus $ 72) and in Houston plus $ 45 (plus $ 57). For all ports, Index shows significant ratio of VLSFO fuel overpricing with no any significant changes.
As for MGO LS, according to the MABUX MBP / DBP Index, this fuel grade was underestimated on December 03 in two out of four ports selected: in Rotterdam – minus $ 40 (minus $ 61 the day before) and in Singapore – minus $ 13 (minus $ 25). In Fujairah and Houston, the MABUX MBP / DBP Index recorded an overcharge by $ 53 (plus $ 27) and by $ 16 (plus $ 41), respectively. The most significant change was an increase of MGO LS overcharge ratio in Fujairah by $ 26 and a drop of overprising in Houston by $ 25.
We expect global bunker prices to change insignificant and irregular today: 380 HSFO – plus-minus 1-3 USD, VLSFO – plus-minus 1-3 USD, MGO LS – plus-minus 1-8 USD.
Source: www.mabux.com
