MABUX: Slight upward correction in Global bunker market on Apr 11
The Bunker Review was contributed by Marine Bunker Exchange (MABUX)
MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO in the main world hubs) continued firm downward movement on April 08, the third day in a row:
380 HSFO - USD/MT – 700.63 (-2.24)
VLSFO - USD/MT – 910.74 (-12.89)
MGO - USD/MT – 1 110.19 (-25.51)
The correlation of MABUX MBP Index (market bunker prices) vs MABUX DBP Index (MABUX digital bunker price benchmark) did not change its dynamics and showed a significant overcharge of all types of fuel. In particular, 380 HSFO fuel grade was overpriced as: Rotterdam - plus $ 68 (plus $ 90 a day earlier), Singapore - plus $ 87 (plus $ 96), Fujairah - plus $ 81 (plus $ 89) and Houston - plus $ 98 (plus $87). Overcharge ratio in all ports except Houston declined slightly.
In the VLSFO segment, the MABUX MBP/DBP Index also registered an overpricing on April 08 in all four selected ports: Rotterdam - plus $131 (versus plus $137 a day earlier), Singapore - plus $70 (plus $69), Fujairah - plus $99 (plus $103) and Houston - plus $139 (plus $142). Thus, in the VLSFO segment, the Index changed insignificantly and irregular.
MGO LS, according to the MABUX MBP/DBP Index, was also in the zone of significant overcharge in all ports on April 08: Rotterdam - plus $64 (plus $47 a day earlier), Singapore - plus $66 (plus $4), Fujairah - plus $ 66 (plus $59) and Houston plus $166 (plus $139). In the MGO LS segment, all ports showed firm growth of overprice margins, where Singapore was the highest - plus 62 points.
We expect bunker fuel prices to turn into slight upward correction today: 380 HSFO - plus 5-12 USD / MT, VLSFO - plus 9-15 USD / MT, MGO LS - plus 10-20 USD/MT.
Source: www.mabux.com
