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 slight upward correction on July 26:
380 HSFO – USD/MT – 616.08 (+0.40)
VLSFO – USD/MT – 918.49 (+6.79)
MGO – USD/MT – 1 206.00 (+2.43)
As of July 26, the MABUX MBP/DBP Index (MDI) (comparison of market bunker prices and the digital bunker price standard MABUX) had no significant changes but remained in the phase of irregular fluctuations in the MGO LS segment.
Fuel 380 HSFO, according to MDI, was undervalued on July 26 in three ports out of four selected: Houston remained the only port with fuel overpriced: plus $21 versus plus $13 a day earlier. In other ports, the underestimation was registered as: Rotterdam – minus $116 (vs. minus $114 the day before), Singapore – minus $137 (minus $139) and Fujairah – minus $134 (minus $124). MDI index for HSFO changed insignificantly.
VLSFO fuel grade, according to the MDI index, remained overvalued on July 26 in all four selected ports: Rotterdam – plus $ 23 (plus $ 31 the day before), Singapore – plus $ 137 (plus $ 135), Fujairah – plus $ 137 (plus $ 176) and Houston – plus $90 (plus $98). VLSFO overprice premium rose slightly in Singapore but fell in Rotterdam, Fujairah and Houston. In Fujairah, the MDI index shrunk by 39 points at once.
In the MGO LS segment, the port of Rotterdam on July 26 remained in the phase of irregular fluctuations, moving back to the overprice zone: plus $ 1 versus minus $ 26 a day earlier. Singapore is the only underestimated port: minus $63 (minus $91). In Fujairah and Houston, the MDI registered fuel overpricing by plus $201 (plus $182) and plus $75 (plus $77), respectively. The MDI index had no firm dynamics in the MGO LS segment.
We do not expect any firm trend in Global bunker market today: 380 HSFO – minus 2-10 USD / MT, VLSFO – minus 5-13 USD / MT, MGO LS – plus 10-20 USD/MT.
Source: www.mabux.com
