MABUX: Upward changes on Global bunker market may continue on Jul 11
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 into upward changes on July 08:
380 HSFO - USD/MT – 670.77 (+10.67)
VLSFO - USD/MT – 1016.48 (+21.34)
MGO - USD/MT – 1286.88 (+24.05)
As of Jul.08, 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 undervalued in all selected ports: Rotterdam - by minus $89 (minus $83 the day before), in Singapore - by minus $120 ( minus $113 the day before) and in Fujairah - by minus $101 (minus $87 the day before), in Houston -by minus $30 (minus $9 the day before). MABUX MBP/DBP Index (MDI) for 380 HSFO fuel declined in all selected ports. The most significant changes were registered in Houston, where the undercharge level increased by 21 points on July 08.
VLSFO, according to the MABUX MBP /DBP Index, remained overcharged on July 08 in all selected ports. The overcharge ratio was registered in Rotterdam - plus $81 (plus $102 the day before), in Singapore by plus $272 (plus $231 the day before), in Fujairah - by plus $247 (plus $254 the day before), in Houston - plus $56 (plus $80 the day before). MDI for VLSFO decreased in most selected ports. The most significant changes were registered in Singapore where the overcharge level increased by 41 points on July 08.
MGO LS, according to the MABUX MBP /DBP Index, was undervalued in two out of four selected ports on July 08: in Rotterdam – by minus $4 (plus $1 the day before), in Singapore - by minus $15 ($0 the day before). This fuel grade remained overvalued in Fujairah – by plus $214 (plus $224 the day before) and in Houston - by plus $58 (plus $105 the day before). MDI index for MGO decreased in all selected ports. The most significant changes were registered in Houston, where the overcharge level declined by 47 points.
We expect global bunker prices may continue upward changes today. The price for 380 HSFO may increase by 7-12 USD/MT, VLSFO may rise by 10-20 USD/MT, MGO may add 2-5 USD/MT.
Source: www.mabux.com
