MABUX: Bunker prices may continue upward trend on Mar.22
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) increased on Mar.21:
380 HSFO - USD/MT – 716.27 (+7.67)
VLSFO - USD/MT – 938.02 (+16.33)
MGO - USD/MT – 1177.52 (+19.37)
As of Mar.21, 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 overvalued in all selected ports: Rotterdam - by plus $52 (plus $45 the day before), in Singapore – by plus $2 (plus $5 the day before), in Fujairah - by plus $25 (no changes), in Houston by plus $101 (plus $103 the day before). The most significant changes were registered in Rotterdam, where the overcharge level increased by 7 points on Mar.21.
VLSFO, according to the MABUX MBP /DBP Index, was overcharged on Mar. 21 in all selected ports. The overcharge ratio was registered in Rotterdam - plus $117 (plus $102 the day before), Singapore - plus $55 (plus $35 the day before), in Fujairah - by plus $97 (plus $89 the day before), in Houston - plus $99 (plus $87 the day before). The most no significant changes were registered in Singapore where the overcharge level increased by 20 points on Mar.21.
MGO LS, according to the MABUX MBP /DBP Index, was overcharged in three out of four selected ports on Mar.21: in Rotterdam – by plus $37 (minus $41 the day before), in Fujairah – by plus $58 (plus $69 the day before), in Houston - by plus $127 (plus $91 the day before). In Singapore this fuel grade remained undervalued by minus $34 (minus $49 the day before). The most significant changes were registered in Rotterdam, where the undercharge level jumped by 78 points and MGO LS became overvalued in this port.
We expect global bunker prices may continue to rise today. The price for 380HSFO may increase by 25-35 USD/MT, VLSFO may rise by 30-40 USD/MT, the price for MGO may add 40-55 USD/MT.
Source: www.mabux.com
