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 upward trend on February 04:
380 HSFO – USD/MT – 582.80 (+11.49)
VLSFO – USD/MT – 741.48 (+17.11)
MGO – USD/MT – 867.02 (+15.64)
The correlation of MABUX MBP Index (Market bunker price) vs MABUX DBP Index (MABUX digital bunker price benchmark) on February 04 showed that 380 HSFO fuel remained overpriced in two out of four ports selected: Singapore – minus $ 6 (versus minus $ 1 a day earlier) and Fujairah – minus $11 (minus $6). In Rotterdam and Houston, the MABUX MBP/DBP Index registered an overcharge of 380 HSFO by plus $18 (plus $19) and plus $27 (plus $33), respectively.
VLSFO, according to the MABUX MBP/DBP Index, was overvalued on February 04 in all selected ports. VLSFO overprice margins were registered as: in Rotterdam – plus $ 44 (plus $33 a day earlier), in Singapore – plus $ 44 (plus $ 30), in Fujairah – plus $ 54 (plus $ 35) and in Houston – plus $ 13 (plus 22). The overcharge ratio has increased significantly (by 11-14 points) at all ports except for Houston, where an overpricing narrowed by 9 points.
MGO LS, according to the MABUX MBP/DBP Index, was undervalued on February 04 in three ports out of four selected: in Rotterdam – minus $ 14 (minus $ 15 a day earlier), in Singapore – minus $ 23 (minus $ 24) and in Fujairah – minus $ 20 (minus $ 23). The only port where, based on MABUX MBP/DBP Index, MGO LS was overpriced is Houston – plus $28 vs. plus $29 a day earlier. Changes in the MBP/DBP Index ratio for MGO LS fuel were insignificant.
We expect global bunker prices to continue surging today: 380 HSFO – plus 7-12 USD, VLSFO – plus 10-16 USD, MGO LS – plus 10-25 USD.
Source: www.mabux.com
