The Bunker Review was contributed by Marine Bunker Exchange (MABUX)
MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO in the main world hubs) continued firm downward movement on March 28:
380 HSFO – USD/MT – 726.25 (-9.83)
VLSFO – USD/MT – 948.83 (-7.98)
MGO – USD/MT – 1 174.37 (-17.14)
The correlation of MABUX MBP Index (market bunker prices) vs MABUX DBP Index (MABUX digital bunker price benchmark) on March 28 showed that 380 HSFO fuel remained overpriced in only one port out of four selected: Houston – plus $34 (plus $75 the day before). In other ports, the underestimation premiums were registered as: Rotterdam – minus $3 (plus $17), Singapore – minus $14 (minus $13) and Fujairah – minus $16 (unchanged). 380 HSFO prices continue to trend towards underpricing zone, which indicates the gradual stabilization of this market’s segment.
In the VLSFO segment, the MABUX MBP/DBP Index registered an overcharge on March 28 in three of the four selected ports: Rotterdam – plus $ 39 (versus plus $ 45 the day before), Fujairah – plus $ 17 (plus $ 26) and Houston – plus $ 40 (plus $84). Singapore continues to be undervalued – minus $21 (minus $8). The most significant overcharge decline was marked by Houston – 44 points.
MGO LS, according to the MABUX MBP/DBP Index, was undervalued on March 28 in three out of four selected ports: Rotterdam – minus $5 (minus $23 a day earlier), Singapore – minus $98 (minus $139) and Fujairah – minus $12 (minus $20). In Houston, the MABUX MBP/DBP Index still registered an overcharge of the MGO LS by $14 (plus $12).
A gradual movement towards underestimation continues in all the segments of bunker fuel.
We expect bunker fuel prices to continue firm downward trend on Mar.29: 380 HSFO – minus 20-40 USD/MT, VLSFO – minus 25-45 USD/MT, MGO LS – minus 50-70 USD/MT.
Source: www.mabux.com
