MABUX: Global bunker indices may turn into upward correction on Jul 18
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 sliding down on July 15:
380 HSFO - USD/MT – 619.49 (-16.24)
VLSFO - USD/MT – 972.69 (-4.71)
MGO - USD/MT – 1 255.76 (-8.73)
MABUX MBP/DBP Index (MDI) (comparison of market bunker prices vs. MABUX digital bunker price benchmark) on July 15 continued to change in mixed directions with no firm trend. Fuel 380 HSFO, according to MDI, was underestimated in all four selected ports: in Rotterdam - minus $ 102 (versus minus $ 101 a day earlier), Singapore - minus $ 148 (minus $ 140), in Fujairah - minus $ 102 (minus $ 100) and in Houston - minus $10 (unchanged). 380 HSFO’s underpricing premium across all ports remained virtually unchanged.
In the VLSFO segment, the MDI index continued to register an overpricing on July 15 in all four selected ports: Rotterdam - plus $ 83 (plus $ 79 the day before), Singapore - plus $ 273 (plus $ 279), Fujairah - plus $ 294 (plus $ 302) and Houston, plus $79 (plus $84). MDI index did not have any firm dynamics here: the overprice premium slightly increased in Rotterdam but dropped in the other three ports. MDI changed insignificant and fluctuated in the range of 4-8 points.
There were little changes in the MGO LS segment on July 15: Rotterdam returned into the overcharge zone again: plus $30 versus minus $8 the day before. Thus, the only port where MGO LS fuel was underestimated remained Singapore: minus $9 (minus $16). In the rest two ports, the overprice premium was registered as: Fujairah - plus $248 (plus $279) and Houston - plus $73 (plus $84). The most significant was the growth of overprice premium in Rotterdam - plus 38 points.
We expect global bunker indices to edge up today: 380 HSFO – plus 3-10 USD / MT, VLSFO – plus 5-15 USD / MT, MGO LS – plus 10-30 USD/MT.
Source: www.mabux.com
