MABUX: No firm trend on Global bunker market on Jan 24
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) turned over to slight downward correction on January 21:
380 HSFO - USD/MT – 544.86 (-0.64)
VLSFO - USD/MT – 694.85 (-1.05)
MGO - USD/MT – 817.23 (-0.87)
The correlation of MABUX MBP Index (Market bunker price) vs MABUX DBP Index (MABUX digital bunker price benchmark) on January 21 showed an overcharge of 380 HSFO in only one of the four ports selected: in Houston - plus $ 16 (plus $ 12 the day before). In Singapore and Fujairah, the MABUX MBP/DBP Index recorded an underpricing of 380 HSFO by $15 (minus $13) and $14 (minus $12), respectively, while in Rotterdam there was a 100% coincidence of MBP/DBP indices (plus $2 the day beforе).
VLSFO, according to the MABUX MBP/DBP Index, was overvalued on January 21 in three out of four ports selected: in Rotterdam - plus $ 27 (plus $ 31 a day earlier), in Singapore - plus $ 33 (plus $ 39) and in Fujairah - plus $33 (plus $44). Overcharge margins for the three ports continued to decline. Houston remains the only port where the MABUX MBP/DBP Index registered an $8 undercharge of VLSFO (minus $16 the previous day).
As for MGO LS, this type of fuel grade, according to the MABUX MBP/DBP Index, was undervalued on January 21 in three of the four selected ports: in Rotterdam - minus $ 22 (minus $ 23 a day earlier), in Singapore - minus $ 35 (minus $27) and in Fujairah minus $28 (no change). In Houston, the MABUX MBP/DBP Index recorded an overpricing of the MGO LS by $6 (plus $9 a day earlier). Overall, the MGO LS MBP/DBP Index ratio remained stable across all ports.
We expect global bunker prices do not have any firm trend and may change irregular today: 380 HSFO - minus 1-3 USD, VLSFO - minus 1-3 USD, MGO LS - plus-minus 3-6 USD.
Source: www.mabux.com
