MABUX: Global bunker market to continue upward evolution on Jan 05
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) returned to upward correction on January 04:
380 HSFO - USD/MT – 501.38 (+4.17)
VLSFO - USD/MT – 637.06 (+1.87)
MGO - USD/MT – 752.24 (+9.01)
Correlation of MABUX MBP Index (Market bunker price) vs MABUX DBP Index (MABUX digital bunker price benchmark) on January 04 showed an overcharge of 380 HSFO in three ports out of four selected: in Rotterdam - plus $ 6 (plus $ 11 the day before), in Fujairah - plus $ 6 (plus $ 8) and in Houston - plus $ 9 (plus $ 4). Singapore remains the only port in the fuel underestimation zone - minus $ 7 (minus $ 2). The MABUX MBP / DBP Index for 380 HSFO at all ports is close to 100% correlation mark.
VLSFO, according to the MABUX MBP / DBP Index, remained overvalued on January 04 in all selected ports: in Rotterdam - plus $ 8 (plus $ 15 the day before), in Singapore - plus $ 67 (plus $ 74), in Fujairah - plus $ 54 (plus $ 61) and Houston plus $ 12 (plus $ 14). The indices in Rotterdam are the closest to a 100% correlation point.
MGO LS fuel grade was underestimated on January 04 at two out of four ports selected: in Rotterdam - minus $ 26 (minus $ 20 the day before) and in Singapore - minus $ 12 (minus $ 10). Fujairah and Houston registered an overpricing of this fuel by $ 38 (plus $ 43) and by $ 8 (plus $ 14), respectively. There were no significant price changes recorded in the MGO LS fuel segment recently.
We expect global bunker prices to continue upward evolution today: 380 HSFO - plus 3-5 USD, VLSFO - plus 4-7 USD, MGO LS - plus 7-11 USD.
Source: www.mabux.com
