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) demonstrated firm downward trend on April 01:
380 HSFO – USD/MT – 709.98 (-16.53)
VLSFO – USD/MT – 932.51 (-14.17)
MGO – USD/MT – 1 143.50 (-12.52)
The correlation of MABUX MBP Index (market bunker prices) vs MABUX DBP Index (MABUX digital bunker price benchmark) on April 01 showed that 380 HSFO fuel grade remained overpriced in all four major ports: Rotterdam – plus $45 (plus $31 the day before), Singapore – plus $39 (plus $14), Fujairah plus $37 (plus $18), and Houston plus $69 (plus $77). Overcharge premiums continued to rise in all ports except for Houston, where overprice ratio decreased by 8 points.
In the VLSFO segment, the MABUX MBP/DBP Index also registered an overcharge on April 01 in all four selected ports: Rotterdam – plus $ 96 (versus plus $ 61 a day earlier), Singapore – plus $ 40 (plus $ 14), Fujairah – plus $ 75 (plus $46) and Houston plus $ 126 (plus $ 83). Thus, in this fuel segment the overcharge margins also continued to rise, the most significant change – plus 43 points in Houston.
MGO LS, according to the MABUX MBP/DBP Index, was undervalued on April 1 in two out of four ports selected: Rotterdam returned to the underpricing zone again – minus $ 10 versus plus $ 3 the day before. Another underestimated port was Singapore – minus $24 (minus $28). In two other ports, fuel overcharge ratio was registered as: Fujairah – plus $92 (plus $65) and Houston – plus $177 (plus $80). In the MGO LS segment, the MABUX MBP/DBP Index did not have a single trend and changed multidirectional.
We expect today bunker fuel prices do not have any firm trend and may change irregular: 380 HSFO – minus 5-15 USD / MT, VLSFO – minus 7-22 USD / MT, MGO LS – plus 12-22 USD/MT.
Source: www.mabux.com
