MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) rose slightly last day of 2021:
380 HSFO – USD/MT – 501.54 (+0.40)
VLSFO – USD/MT – 640.69 (+1.19)
MGO – USD/MT – 747.65 (+0.14)
Correlation of MABUX MBP Index (Market bunker price) 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 31: Rotterdam – plus $ 9 and Fujairah – plus $ 10. In Singapore and Houston, the MABUX MBP / DBP Index registered an undercharge of this fuel grade by $ 6 and $ 2, respectively. MBP/DBP Index for 380 HSFO fuel is close to the 100% correlation mark at all ports.
VLSFO, according to the MABUX MBP / DBP Index, remained overvalued on December 31 in all selected ports: Rotterdam – plus $ 11, Singapore – plus $ 67, Fujairah – plus $ 56 and Houston – plus $ 5. The most significant overcharge ratio of this fuel grade was registered in Singapore and Fujairah.
As for MGO LS, according to the MABUX MBP / DBP Index, this fuel grade was underestimated on December 31 at three out of four ports selected: in Rotterdam – minus $ 23, in Singapore – minus $ 19 and in Houston – minus $ 21. Fujairah is the only port where the MABUX MBP / DBP Index has recorded a $ 32 overcharge of MGO LS fuel.
We expect global bunker prices to decrease slightly today: 380 HSFO – minus 5-8 USD, VLSFO – minus 6-11 USD, MGO LS – minus 8-17 USD.