MABUX: Global bunker indexes to continue drifting lower on Dec. 10
The Bunker Review was contributed by Marine Bunker Exchange (MABUX)
MABUX: Global bunker indexes to continue drifting lower on Dec. 10.
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) continued slight upward trend on Dec. 09:
380 HSFO - USD/MT – 478.48 (+2.10)
VLSFO - USD/MT – 617.08 (+4.77)
MGO - USD/MT – 730.07 (+5.97)
Correlation of MABUX MBP Index (Market bunker prices) vs MABUX DBP Index (MABUX digital bunker benchmark) on December 09 showed an underestimation of 380 HSFO fuel in three out of four ports, except for Houston, where fuel grade was overpriced by $ 5 (the day before it was $ 17 overcharge). In other ports, the underpricing ratio was: in Rotterdam - minus $ 4 (minus $ 5 the day before), in Singapore - minus $ 15 (minus $ 20) and in Fujairah - minus $ 2 (minus $ 6). In general, the MABUX MBP / DBP Index for 380 HSFO fuel is close to 100% correlation at all ports.
VLSFO, according to the MABUX MBP / DBP Index, was overvalued on December 09 in all selected ports, however, the overcharge margins continued to decline gradually compared to three days earlier: in Rotterdam - plus $ 16 (plus $ 17 the day before), in Singapore - plus $ 52 (plus $ 60), Fujairah plus $ 47 (plus $ 43) and Houston plus $ 14 (plus $ 8).
As for MGO LS, according to the MABUX MBP / DBP Index, this fuel grade was underestimated on December 09 in three of the four ports selected: in Rotterdam - minus $ 38 (minus $ 39 the day before), in Singapore - minus $ 20 (minus $ 27) and in Houston - minus $ 16 (minus $ 24). Fujairah remains the only port where the MABUX MBP / DBP Index registers a $ 40 overpricing of MGO LS fuel grade (plus $ 35 a day earlier). Correlation levels of the MABUX MBP / DBP Index for MGO LS did not change significantly.
We expect global bunker prices to continue sliding down today: 380 HSFO - minus 4-8 USD, VLSFO - minus 5-10 USD, MGO LS - 0 - minus 4 USD.
Source: www.mabux.com
