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 firm uptrend on January 27:

380 HSFO – USD/MT – 555.45 (+7.99)
VLSFO – USD/MT – 703.42 (+7.60)
MGO – USD/MT – 832.50 (+7.12)

The correlation of MABUX MBP Index (Market bunker price) vs MABUX DBP Index (MABUX digital bunker price benchmark) on January 27 showed that 380 HSFO fuel was overpriced in two out of four selected ports: Fujairah passed over to the underestimation zone again: minus $ 10 versus plus $ 4 the day before. Rotterdam and Houston are still in the overcharge zone: plus $11 (plus $16) and plus $19 (plus $22), respectively. In Singapore, the MABUX MBP/DBP registered a $ 3 underpricing of 380 HSFO (unchanged for the second day in a row).

VLSFO, according to the MABUX MBP / DBP Index, remained overvalued on January 27 in all four ports selected: in Rotterdam – plus $ 26 (plus $ 24 a day earlier), in Singapore – plus $ 23 (plus $ 35), in Fujairah – plus $ 26 (plus $44) and in Houston plus $2 (plus $11). Overprice indices for all ports continued to decline, with the most significant change in Fujairah – 18 points.

As for MGO LS, this type of fuel, according to the MABUX MBP/DBP Index, was undervalued on January 27 in three of the four selected ports: in Rotterdam – minus $ 22 (minus $ 2 a day earlier), in Singapore – minus $ 28 (minus $11) and in Fujairah – minus $27 (minus $3). In Houston, the MABUX MBP/DBP Index registered a 100% index correlation (plus $26 a day earlier). In general, MGO LS is underestimated now at all ports selected.

We expect global bunker prices do not have any firm trend today and may change irregular: 380 HSFO – minus 1-4 USD, VLSFO – minus 2-5 USD, MGO LS – plus 2-14 USD.

Source: www.mabux.com