The Bunker Review was contributed by Marine Bunker Exchange (MABUX)
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) demonstrated multidirectional changes on February 17:
380 HSFO – USD/MT – 588.37 (+2.61)
VLSFO – USD/MT – 751.32 (+1.37)
MGO – USD/MT – 874.31 (-7.95)
As of February 17, a correlation of MABUX MBP Index (Market Bunker Prices) vs MABUX DBP Index (Digital Bunker Prices Benchmark) in four largest global hubs showed that 380 HSFO fuel grade was undervalued in all selected ports: Rotterdam – by minus $7 (plus $12 the day before), in Singapore– by minus $21 (minus $17 the day before), in Fujairah – by minus $29 (minus $8 the day before) and in Houston – by minus $ 3 (minus $4 the day before). The most significant changes were registered in Fujairah – the increase of overcharge level by $21 on February 17.
VLSFO, according to the MABUX MBP /DBP Index, was overcharged on February 17 in three out of four selected ports. The overcharge ratio was registered in Rotterdam – plus $10 (plus $38 the day before), Singapore – plus $43 (plus $50 the day before), in Fujairah – by plus $32 (plus $58 the day before). In Houston VLSFO was undercharged by minus $1 (plus $8 the day before). The most significant changes were registered in Rotterdam where the overcharge level decreased by $28 on February 17.
MGO LS, according to the MABUX MBP /DBP Index, was undercharged in three out of four selected ports on February 17: in Rotterdam – minus $ 38 ($ 0 the day before), in Singapore – minus $ 14 ($0 the day before), in Fujairah – minus $18 (plus $15 the day before). In Houston this fuel grade remained overcharged by plus $32 (plus $39 the day before). The most significant changes were registered in Rotterdam, where MGO LS became undercharged.
We expect global bunker prices may decline today. The price for 380HSFO may decrease by 5-10 USD/MT, VLSFO may decline by 8-13 USD/MT, the price for MGO may drop 18-25 USD/MT.
Source: www.mabux.com
