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) turned into slight downward correction on Feb.23:
380 HSFO – USD/MT – 600.70 (-0.78)
VLSFO – USD/MT – 763.89 (-4.37)
MGO – USD/MT – 880.08 (-3.66)
The correlation of MABUX MBP Index (Market bunker price) vs MABUX DBP Index (MABUX digital bunker price benchmark) on February 23 showed that 380 HSFO fuel grade was overpriced in only one port out of four selected: plus $ 35 in Houston (versus plus $ 10 the day before). In other ports, the underestimation margins were recorded as: minus $ 3 (plus $ 8 a day earlier) in Rotterdam, minus $ 31 (minus $ 14) in Singapore and minus $ 32 (minus $ 18) in Fujairah. The underprice ratio at all ports, with the exception of Houston, continued to rise.
VLSFO, according to the MABUX MBP/DBP Index, remained overvalued on February 23 in all selected ports. VLSFO overprice margins were: in Rotterdam – plus $6 (plus $31 the day before), in Singapore – plus $27 (plus $44), in Fujairah – plus $37 (plus $55) and in Houston – plus $30 (plus $31). 12). The most significant change was the drop of VLSFO’s overprice ratio in Rotterdam by 25 points.
MGO LS, according to the MABUX MBP/DBP Index, was underpiced on February 23 only in two out of four selected ports: Singapore (minus $ 8 vs. plus $ 14) joined Rotterdam (minus $ 22 vs. minus $ 1) in underpricing zone. The other two ports: Fujairah and Houston, registered an overpricing of MGO LS by $22 (plus $46) and $68 (plus $41), respectively. The MBP/DBP Indices’ ratio did not have a single trend in MGO LS market segment.
We expect global bunker prices stay stable at the moment but the escalation in Ukraine may send indices up by the end of the day: 380 HSFO – plus 1-3 USD, VLSFO – plus 1-3 USD, MGO LS – plus 1-5 USD.
Source: www.mabux.com
