Global bunker prices to continue upward evolution 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) turned into upward evolution on April 27:
380 HSFO – USD/MT – 720.80 (+11.43)
VLSFO – USD/MT – 925.71 (+12.05)
MGO – USD/MT – 1 219.71 (+29.48)
Сorrelation of MABUX MBP Index (market bunker prices) vs MABUX DBP Index (MABUX digital bunker price benchmark) was mostly in the overcharge zone on April 27 in selected ports. In particular, 380 HSFO fuel was overpriced in all ports: Rotterdam – plus $41 (plus $52 a day earlier), Singapore – plus $134 (plus $122), Fujairah – plus $91 (plus $95) and Houston – plus $ 108 (plus $119). MABUX MBP/DBP Index (MDI) for 380 HSFO fuel did not have a firm trend: in Rotterdam, Fujairah and Houston, the overpricing decreased, while in Singapore it rose.
In the VLSFO segment, MDI also recorded an overcharge on April 27 in all four selected ports. Rotterdam – plus $ 80 (versus plus $ 96 the day before), Singapore – plus $ 40 (plus $ 46), Fujairah – plus 57 (plus $ 61) and Houston – plus $ 72 (plus $ 92). VLSFO’s overprice premium declined slightly.
The only port where MDI registered an underpricing of MGO LS was Houston: minus $52 versus plus $24 the day before. In other ports, MGO LS remained overvalued, although an overcharge ratio slightly declined: Rotterdam – plus $105 (plus $114 a day earlier), Singapore – plus $21 (plus $29), Fujairah – plus $105 (plus $153). The most significant change was the overcharge reduction in the port of Houston by 76 points.
We expect global bunker prices to continue upward evolution today: 380 HSFO – plus 1-5 USD / MT, VLSFO – plus 1-5 USD / MT, MGO LS – plus 15-40 USD/MT.
Source: www.mabux.com
