Global bunker prices to inch higher today
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) maintained firm upward evolution on April 15:
380 HSFO – USD/MT – 732.07 (+2.72)
VLSFO – USD/MT – 947.08 (+8.58)
MGO – USD/MT – 1 209.60 (+20.56)
Correlation MABUX MBP Index (market bunker prices) vs MABUX DBP Index (MABUX digital bunker price benchmark) on April 15 remained in the overcharge area for all types of fuel in selected ports. The overprice margins for 380 HSFO fuel were registered as: Rotterdam – plus $12 (plus $33 the day before), Singapore – plus $89 (plus $98), Fujairah – plus $89 (plus $90) and Houston – plus $71 (plus $83). Overcharge ratio continued its gradual decline, the most significant was minus 21 points in Singapore.
In the VLSFO segment, MABUX MBP/DBP Index also registered overpricing on April 15 in all four selected ports. Rotterdam – plus $56 (plus $79 a day earlier), Singapore – plus $29 (plus $39), Fujairah – plus 31 (plus $51) and Houston – plus $86 (plus $101). The trend towards a gradual reduction of overcharge levels also continued here.
MGO LS, according to MABUX MBP/DBP Index, was in the overcharge area on April 15 in all ports: Rotterdam – plus $54 (plus $118 the day before), Singapore – plus $26 (plus $40), Fujairah – plus $76 (plus $120) and Houston plus $113 (plus $93). Despite there is not a single dynamic of MABUX MBP/DBP Index in the MGO LS segment, the general trend of recent days is the stepwise approach of DBP Index to the 100% correlation mark with the MBP market index, which indicates a gradual stabilization of the situation in the global bunker market.
We expect global bunker prices to inch higher today: 380 HSFO – plus 3-5 USD / MT, VLSFO – plus 4-6 USD / MT, MGO LS – plus 10-25 USD/MT.
Source: www.mabux.com
