Global bunker prices to change sideways today
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) resumed slight upward evolution January 7:
380 HSFO – USD/MT – 507.55 (+4.79)
VLSFO – USD/MT – 641.26 (+4.30)
MGO – USD/MT – 761.83 (+2.34)
Correlation of MABUX MBP Index (Market bunker price) vs MABUX DBP Index (MABUX digital bunker price benchmark) on January 7 showed an overcharge of 380 HSFO in only two of the four selected ports: in Rotterdam – plus $ 1 (plus $ 5 the day before) and in Houston – plus $ 9 (plus $ 12). In Fujairah, the MABUX MBP / DBP Index recorded 100% coincidence of both indices (plus $ 2 a day earlier). Singapore remains the only port with underprices 380 HSFO – minus $ 19 (minus $ 17).
VLSFO, according to the MABUX MBP / DBP Index, remained overvalued on January 07 at two selected ports: Singapore – plus $ 33 (plus $ 41) and Fujairah – plus $ 30 (plus $ 37). In Rotterdam and Houston, Index registered the turnover of price quotations back to the underestimation zone – minus $ 1 (plus $ 2 the day before) and minus $ 6 (plus $ 5), respectively. The narrowing trend in VLSFO fuel’s overestimation margins and a gradual transition to the underestimation zone continue.
MGO LS fuel grade was underestimated on January 07 in two ports out of four selected: in Rotterdam – minus $ 47 (minus $ 44 the day before) and in Singapore – minus $ 36 (minus $ 31). Fujairah and Houston registered an overpricing of this fuel grade by $ 7 (plus $ 37) and by $ 3 (minus $ 5), respectively. The most significant was the drop of the MGO LS overcharge ratio in the port of Fujairah by 30 points at once.
We expect global bunker prices to change sideways today: 380 HSFO – minus 1-3 USD, VLSFO – minus 1-4 USD, MGO LS – plus-minus 1-3 USD.