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 evolution upward on February 22:
380 HSFO – USD/MT – 601.48 (+11.12)
VLSFO – USD/MT – 768.26 (+13.46)
MGO – USD/MT – 883.74 (+12.06)
The correlation of MABUX MBP Index (Market bunker price) vs MABUX DBP Index (MABUX digital bunker price benchmark) on February 22 showed that 380 HSFO fuel grade was overpriced in two out of four selected ports: Rotterdam: plus $8 (versus minus $1 the day before) has joined Houston (plus $ 10 (plus $ 5). Singapore and Fujairah, according to MABUX MBP/DBP Index, are undercharged: minus $14 (minus $21) and minus $18 (unchanged), respectively.
VLSFO, according to the MABUX MBP/DBP Index, remained overvalued on February 22 in all selected ports. VLSFO overprice margins were recorded as: in Rotterdam – plus $31 (plus $25 a day earlier), in Singapore – plus $44 (plus $43), in Fujairah – plus $55 (plus $56) and in Houston – plus $12 (plus $ 14). The MABUX MBP/DBP Index ratio for the VLSFO segment has not had considerable changes.
MGO LS, according to the MABUX MBP/DBP Index, was underpriced on February 22 in only one of the four ports selected: Rotterdam – minus $1 (vs. minus $9 the day before). In all other ports, the MABUX MBP/DBP Index registered an overpricing as: Singapore – plus $14 (minus $8), Fujairah – plus $46 (plus $28), Houston – plus $41 (plus $45). The most significant change was the increase of MGO LS overpricing in the port of Fujairah by 18 points.
We expect global bunker prices to slow down upward movement today: 380 HSFO – plus 2-6 USD, VLSFO – plus 2-9 USD, MGO LS – 0-plus 9 USD.
Source: www.mabux.com
