MABUX: Upward changes to prevail in Global bunker market changes on Aug 22
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) demonstrated irregular changes on August 19:
380 HSFO - USD/MT – 595.01 (-1.03)
VLSFO - USD/MT – 838.75 (+6.76)
MGO - USD/MT – 1157.30 (+9.47)
As of August 19, 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 remained undervalued in three out of four selected ports: Rotterdam - by minus $24 (minus $12 the day before), in Singapore - by minus $68 (minus $43 the day before), in Fujairah - by minus $77 (minus $57 the day before). In Houston this fuel grade remained overvalued -by plus $28 (plus $33 the day before). MABUX MBP/DBP Index (MDI) for 380 HSFO fuel decreased in all selected ports. The most significant changes were registered in Singapore the undercharge level increased by 25 points on August 19.
VLSFO, according to the MABUX MBP /DBP Index, remained overcharged in all selected ports on August 19. The overcharge ratio was registered in Rotterdam by plus $48 (plus $64 the day before), in Singapore by plus $60 (plus $74 the day before), in Fujairah - by plus $119 (plus $143 the day before), in Houston - plus $47 (plus $64 the day before). MDI for VLSFO also declined in all selected ports. The most significant changes were registered in Fujairah, where the overcharge level decreased by 24 points on August 19.
MGO LS, according to the MABUX MBP /DBP Index, was undervalued in three out of four selected ports on August 19: in Rotterdam – by minus $27 (plus $1 the day before), in Singapore - by minus $84 (minus $45 the day before) and in Houston - by minus $36 (minus $29 the day before). This fuel grade remained overcharged in Fujairah – by plus $201 (plus $227 the day before). MDI index for MGO decreased in all selected ports. The most significant changes were registered in Singapore where the undercharge level increased by 39 points.
We expect global bunker prices may demonstrate upward changes today. The price for 380 HSFO and VLSFO may rise by 1-3 USD/MT, the price for MGO may increase by 9-13 USD/MT.
Source: www.mabux.com
