MABUX: Global bunker market to keep slight irregular fluctuations with no firm trend on Nov 26
Global bunker prices will remain in the mode of slight irregular fluctuations with no firm trend
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) did not have any firm trend on Nov.25:
380 HSFO / USD/MT – 500.31 (+0.95)
VLSFO / USD/MT – 638.85 (-0.30)
MGO / USD/MT – 750.18 (+2.85)
As of November 25, 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 was undervalued in three out of four ports selected: Rotterdam - minus $ 15 (unchanged from the day before), in Singapore - minus $ 14 (unchanged) and Fujairah - minus $ 12 (minus $ 8). Houston remains the only port where the MABUX MBP / DBP Index registered an overcharge by $ 13 vs. plus $ 12 a day earlier.
VLSFO, according to the MABUX MBP / DBP Index, was overvalued on November 25 at three of the four ports selected: Singapore - plus $ 34 (unchanged compared to the day before), Fujairah - plus $ 33 (unchanged) and Houston - plus $ 7 (plus $ 1). Meantime, an undercharge of this fuel grade by minus $ 5 (unchanged the day before) was registered in Rotterdam. On the whole, the VLSFO market indexes versus digital benchmarks have remained virtually unchanged.
As for MGO LS, according to the MABUX MBP / DBP Index, this fuel grade was underpriced on November 25 in three out of four ports selected: in Rotterdam - minus $ 54 (minus $ 39 the day before), in Singapore - minus $ 23 (minus $ 18) and in Houston - minus $ 10 (minus $ 1). The only port where the MABUX MBP / DBP Index still registers overpricing is Fujairah - plus $ 25 (plus $ 33). The most significant change was the growth of the undercharge ratio in Rotterdam by $ 15.
We expect global bunker prices will remain in the mode of slight irregular fluctuations with no firm trend: 380 HSFO - plus-minus 0-2 USD, VLSFO - plus-minus 0-3 USD, MGO LS - minus 1-5 USD.
Source: www.mabux.com
