MABUX: Global bunker prices may turn into downward evolution on Oct. 17
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) slightly increased on Oct. 14:
380 HSFO - USD/MT – 499.87 (+2.41)
VLSFO - USD/MT – 810.71 (+2.72)
MGO - USD/MT – 1 248.33 (+4.63)
380 HSFO fuel grade, according to MDI (comparison MABUX MBP Index (market bunker prices) vs MABUX DBP Index (MABUX digital bunker benchmark), were undervalued on Oct. 14 in all selected ports. The underestimation premium was registered as: Rotterdam - minus $146 (minus $147 the day before), Singapore - minus $187 (minus $176 the day before), Fujairah - minus $184 (minus $186 the day before), in Houston – by minus $95 (minus $86 the day before). The underestimation level increased in half of selected. The most significant changes were registered in Singapore, where the undercharge level increased by 11 points.
In the VLSFO fuel grade segment, two out of four selected ports, according to the MDI index, were in the overcharge zone: Singapore - plus 57 (plus $83 the day before), Fujairah - plus $20 (plus $51 the day before. In Rotterdam this fuel grade remained undercharged by minus $27 (minus $18 the day before) and Houston - by minus $3 (plus $5 the day before). As per MDI – its level declined in all selected ports. The most significant changes were registered in Fujairah, where the overcharge level decreased by 31 points.
MGO LS was undercharged in two out of four selected ports: in Rotterdam – by minus $66 (minus $72 the day before), in Singapore – by minus $80 (minus $78 the day before). This fuel grade was overcharged in Fujairah - by plus $78 (plus $92 the day before), in Houston – by plus $10 (plus $30 the day before). MDI index in MGO LS segment decreased in most of selected ports. The most significant changes were registered in Houston, where the overcharge level declined by 20 points.
We expect Global bunker prices may turn into downward changes on Oct.17: the price for 380 HSFO may decrease by 10-15 USD/MT, VLSFO – by 15-20 USD/MT, MGO LS – may decline by 20-30 USD/MT.
Source: www.mabux.com
