MABUX: Downward trend will prevail in Global bunker market on Apr 26
Global bunker prices do not have firm trend today while downward movement will prevail
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) turned into downward movement on April 25 after a temporary stabilization the day before:
380 HSFO - USD/MT – 721.89 (-11.22)
VLSFO - USD/MT – 927.21 (-27.28)
MGO - USD/MT – 1 217.29 (-23.83)
Correlation of MABUX MBP Index (market bunker prices) vs MABUX DBP Index (MABUX digital bunker price benchmark) on April 25 was mostly in the overcharge zone in selected ports. In particular, 380 HSFO fuel was overpriced in all ports: Rotterdam - plus $32 (plus $24 a day earlier), Singapore - plus $100 (plus $125), Fujairah - plus $84 (plus $87) and Houston - plus $ 111 (plus $105). MABUX MBP/DBP Index (MDI) for 380 HSFO fuel grade did not have any firm trend: in Singapore and Fujairah, the overpricing decreased, while in Rotterdam and Houston it rose.
In the VLSFO segment, MDI also registered an overcharge on April 25 in all four selected ports. Rotterdam - plus $77 (plus $99 the day before), Singapore - plus $32 (plus $40), Fujairah - plus 55 (plus $53) and Houston - plus $96 (plus $106). VLSFO’s overprice premium declined slightly.
The only port where MDI registered an underpricing of MGO LS on April 25 (for the first time in the last two months), was Singapore: minus $10 versus plus $42 the day before. In other ports, MGO LS remained overvalued, although an overcharge ratio slightly declined: Rotterdam - plus $91 (plus $138 a day earlier), Fujairah - plus $102 (plus $111) and Houston - plus $111 (plus $119). The most significant change was the overcharge reduction in the port of Singapore by 52 points at once.
We expect global bunker prices do not have firm trend today while downward movement will prevail: 380 HSFO - minus 10-20 USD / MT, VLSFO - minus 10-25 USD / MT, MGO LS - plus-minus 10-40 USD/MT.
Source: www.mabux.com
