MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) continued to decline on Mar.17:

380 HSFO – USD/MT – 681.32 (-4.54)

VLSFO – USD/MT – 881.79 (-14.19)

MGO – USD/MT – 1106.38 (-5.55)

As of Mar.17, 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 all selected ports: Rotterdam – by plus $81 (plus $77 the day before), in Singapore – by plus $42 (plus $29 the day before), in Fujairah – by plus $47 (plus $31 the day before), in Houston by plus $129 (plus $127 the day before). The most significant changes were registered in Fujairah, where the overcharge level increased by 16 points on Mar.17.

VLSFO, according to the MABUX MBP /DBP Index, was overcharged on Mar. 17 in all selected ports. The overcharge ratio was registered in Rotterdam – plus $141 (plus $136 the day before), Singapore – plus $68 (plus $74 the day before), in Fujairah – by plus $153 (plus $147 the day before), in Houston – plus $134 (plus $138 the day before). There were no significant changes registered on Mar.17.

MGO LS, according to the MABUX MBP /DBP Index, was overcharged in two out of four selected ports on Mar.17: in Fujairah – by plus $176 (plus $204 the day before), in Houston – by plus $140 (plus $224 the day before). In Rotterdam this fuel grade was undercharged by minus $3 (plus $46 the day before), in Singapore MABUX MBP Index 100% correlated to DBP Index (plus $44 the day before). The most significant changes were registered in Houston, where the overcharge level decreased by 84 points.

We expect global bunker prices may sharply increase today. The price for 380HSFO may increase by 30-40 USD/MT, VLSFO may rise by 40-50 USD/MT, the price for MGO may add 70-90 USD/MT.

Source: www.mabux.com