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) demonstrated slight irregular changes on January 14:
380 HSFO – USD/MT – 525.88 (-3.64)
VLSFO – USD/MT – 668.82 (+0.22)
MGO – USD/MT – 795.70 (+0.44)
As of January 14, a correlation of MABUX MBP Index (Market Bunker Prices) vs MABUX DBP Index (Digital Bunker Prices Benchmark) in four largest global hubs showed that 380 HSFO fuel grade was undervalued in two out of four selected ports: in Singapore – by minus $17 (no changes) and Fujairah – by minus $2 (minus $4 the day before). In Houston this fuel grade was overcharged by plus $ 7(no changes), in Rotterdam – by plus $5 (plus $1 the day before). There were no significant changes registered on January 14.
VLSFO, according to the MABUX MBP / DBP Index, was overcharged on January 14 in three out of four selected ports. The overcharge ratio was registered in Rotterdam – plus $13 (plus $4 the day before), Singapore – plus $52 (plus $49 the day before), in Fujairah – by plus $48 (plus $39 the day before). In Houston this fuel grade was undercharged by minus $7 (minus $9 the day before). The most significant changes were registered in Rotterdam and Fujairah where the overcharge level increased by $9 on January 14.
MGO LS, according to the MABUX MBP /DBP Index, was undercharged in two out of four selected ports on January 14: in Rotterdam – minus $ 21 (minus $26 the day before), in Singapore – minus $ 19 (minus $23 the day before). In Fujairah this fuel grade remained overcharged by plus $2 (plus $1 the day before), in Houston – by plus $10 (plus $9 the day before). The most significant changes were registered in Rotterdam where the undercharge level decreased by $5.
We expect global bunker prices may demonstrate upward changes today. The price for 380HSFO may increase by 6-9 USD/MT, VLSFO may rise by 9-12 USD/MT, MGO may add 7-11 USD/MT.