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 downward movement on Dec. 15:
380 HSFO – USD/MT – 473.94 (-2.76)
VLSFO – USD/MT – 610.38 (-3.41)
MGO – USD/MT – 726.14 (-6.15)
Correlation of MABUX MBP Index (Market bunker prices) vs MABUX DBP Index (MABUX digital bunker benchmark) on December 15 showed an underestimation of 380 HSFO fuel in three out of four ports, except for Houston, where fuel was overvalued by $ 5 ($ 1 the day before). In other ports, the underpricing ratio was: in Rotterdam – minus $ 2 (plus $ 1 the day before), in Singapore – minus $ 6 (minus $ 9) and in Fujairah – minus $ 4 (unchanged). Correlation levels of the MABUX MBP / DBP Index for 380 HSFO fuel grade did not show significant changes.
VLSFO, according to the MABUX MBP / DBP Index, was overvalued on December 15 in all selected ports, and the overcharge margins began to rise again: in Rotterdam – plus $ 24 (plus $ 22 the day before), in Singapore – plus $ 60 (plus $ 59) , in Fujairah – plus $ 61 (plus $ 55) and in Houston plus $ 33 (plus $ 26).
As for MGO LS, according to the MABUX MBP / DBP Index, this fuel grade was underestimated on December 15 at three of the four ports selected: in Rotterdam – minus $ 38 (minus $ 36 the day before), in Singapore – minus $ 15 (minus $ 10) and in Houston – minus $ 3 (minus $ 7). Fujairah remains the only port where the MABUX MBP / DBP Index registers a $ 48 overpricing of MGO LS (plus $ 44 a day earlier).
We expect global bunker prices to change insignificant and irregular today: 380 HSFO – plus 1-3 USD, VLSFO – plus 1-3 USD, MGO LS – 0-minus 5 USD.
Source: www.mabux.com
