MABUX: Firm upward evolution to prevail in Global bunker market on Jul 19
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) did not have a firm trend and changed irregular on July 18:
380 HSFO - USD/MT – 633.95 (+14.46)
VLSFO - USD/MT – 968.52 (-4.17)
MGO - USD/MT – 1 267.75 (+11.99)
MABUX MBP/DBP Index (MDI) (comparison of market bunker prices vs. MABUX digital bunker price benchmark) on July 18 continued irregular changes. Fuel 380 HSFO, according to MDI, was underestimated in all four ports selected: Rotterdam - minus $ 107 (versus minus $ 102 the day before), Singapore - minus $ 127 (minus $ 148), Fujairah - minus $ 114 (minus $ 102) and Houston - minus $14 (minus $10). In the HSFO segment, the MDI index did not have a firm dynamics: In Rotterdam, Fujairah and Houston, the underpricing rose in Rotterdam, Fujairah and Houston, while in Singapore it decreased.
In the VLSFO segment, the MDI index continued to register an overpricing on July 15 in all four selected ports: Rotterdam - plus $ 65 (plus $ 83 a day earlier), Singapore - plus $ 274 (plus $ 273), Fujairah - plus $ 282 (plus $ 294) and Houston - plus $82 (plus $79). Here, the MDI index also did not have a firm trend: the overprice premium slightly down in Rotterdam and Fujairah, but up in Singapore and Houston.
In the MGO LS segment, the MDI index had no significant changes on July 18. Three out of four ports registered fuel overpricing: Rotterdam - plus $5 vs. plus $30 the day before, Fujairah - plus $221 (plus $248) and Houston - plus $68 (plus $73). Thus, the only port where MGO LS fuel grade was underestimated remained Singapore: minus $38 (minus $9). The overcharge premium was decreasing, while the overpricing was growing.
We expect global bunker indices to change sharply and irregular today while upward evolution will prevail: 380 HSFO – plus 10-20 USD / MT, VLSFO – plus 15-30 USD / MT, MGO LS – plus-minus 1-10 USD/MT.
Source: www.mabux.com
