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 downtrend on January 03:
380 HSFO / USD/MT – 497.21 (-4.33)
VLSFO / USD/MT – 635.19 (-5.50)
MGO / USD/MT – 743.23 (-4.42)
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 three out of four ports selected on January 03: in Rotterdam – plus $ 11 (plus $ 9 the day before), in Fujairah – plus $ 8 (plus $ 10) and in Houston – plus $ 4 (minus $ 2). Singapore remains the only port where Index registered underpricing of 380 HSFO – minus $ 2 (minus $ 6).
VLSFO, according to the MABUX MBP / DBP Index, remained overvalued on January 03 in all selected ports: in Rotterdam – plus $ 15 (plus $ 11 the day before), in Singapore – plus $ 74 (plus $ 67), in Fujairah – plus $ 61 (plus $ 56) and in Houston plus $ 14 (plus $ 5). At the moment, as per the MABUX MBP / DBP Index, VLSFO is the most overpriced fuel.
As for MGO LS, this fuel grade was underestimated on January 03 in two out of four ports selected: in Rotterdam – minus $ 20 (minus $ 23 the day before) and in Singapore – minus $ 10 (minus $ 19). Fujairah and Houston registered an overcharge of this fuel by $ 43 (plus $ 32) and $ 14 (minus $ 21), respectively. The most significant change was the growth of overpricing ratio in Houston by $ 35.
We expect global bunker prices to turn into slight upward correction today: 380 HSFO – plus 3-5 USD, VLSFO – plus 4-7 USD, MGO LS – plus 6-10 USD.
Source: www.mabux.com
