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) sharply declined on Mar.15:

380 HSFO – USD/MT – 693.11 (-26.19)

VLSFO – USD/MT – 902.20 (-47.14)

MGO – USD/MT – 1124.57 (-49.54)

As of Mar.15, 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 overvalued in three out of four selected ports: Rotterdam – by plus $56 (plus $42 the day before), in Fujairah – by plus $9 (minus $1 the day before), in Houston by plus $113 (plus $87 the day before). This fuel grade was undercharged in Singapore – by minus $9 (minus $4 the day before) and. The most significant changes were registered in Houston, where the overcharge level increased by $26 on Mar.15.

VLSFO, according to the MABUX MBP /DBP Index, was overcharged on Mar. 15 in all selected ports. The overcharge ratio was registered in Rotterdam – plus $150 (plus $124 the day before), Singapore – plus $30 (plus $67 the day before), in Fujairah – by plus $138 (plus $100 the day before), in Houston – plus $118 (plus $94 the day before). The most significant changes were registered in Singapore (the decline of overcharge level by $37) and Fujairah (the overcharge level increased by $38) on Mar.15.

MGO LS, according to the MABUX MBP /DBP Index, was overcharged in three out of four selected ports on Mar.15: in Rotterdam – plus $ 13 (plus $11 the day before), in Fujairah – by plus $101 (plus $99 the day before), in Houston – by plus $181 (plus $166 the day before). In Singapore this fuel grade remained undercharged by minus $ 6 (minus $5 the day before). The most significant changes were registered in Houston where the overcharge level increased by $15.

We expect global bunker prices may continue to decline today. The price for 380HSFO may decrease by 25-35 USD/MT, VLSFO may fall by 30-40 USD/MT, the price for MGO may decline 25-35 USD/MT.

Source: www.mabux.com