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 slight upward evolution on Dec. 23:
380 HSFO / USD/MT – 484.71 (+7.78)
VLSFO / USD/MT – 613.80 (+6.24)
MGO / USD/MT – 727.46 (+6.15)
Correlation of MABUX MBP Index (Market bunker prices) vs MABUX DBP Index (MABUX digital bunker benchmark) showed an overcharge of 380 HSFO fuel grade in two out of four ports selected on December 23: in Rotterdam – plus $ 15 (plus $ 18 the day before) and in Houston – plus $ 18 (plus $ 14). In Singapore, the MABUX MBP / DBP Index registered an underestimation by $ 8 (minus $ 5), and in Fujairah, there was a 100% correlation of both Indexes (plus $ 3 a day earlier).
VLSFO, according to the MABUX MBP / DBP Index, remained overvalued on December 23 in all selected ports: in Rotterdam – plus $ 18 (plus $ 23 the day before), in Singapore – plus $ 65 (plus $ 64), in Fujairah – plus $ 54 (plus $ 64) and Houston – plus $ 14 (plus $ 27). The most significant overcharge margins of this fuel grade were registered in Singapore and Fujairah.
As for MGO LS, according to the MABUX MBP / DBP Index, this fuel grade was underpriced on December 23 in three out of four ports selected: in Rotterdam – minus $ 28 (unchanged from the day before), in Singapore – minus $ 21 (minus $ 13), and in Houston – minus $ 15 (minus $ 11). Fujairah is the only port where the MABUX MBP / DBP Index recorded a $ 50 overcharge (plus $ 62 a day earlier). The most significant change was the 12-point drop of the fuel overcharge rate at the port of Fujairah.
We expect global bunker prices to continue rising today: 380 HSFO – may add 5-8 USD, VLSFO – plus 6-11 USD, MGO LS – plus 6-12 USD.
Source: www.mabux.com
