MABUX: No firm trend is expected in Global bunker market on Oct 24
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) turned into slight downward movement on Oct 21:
380 HSFO - USD/MT – 490.54 (-5.15)
VLSFO - USD/MT – 793.33 (-5.62)
MGO - USD/MT – 1 179.05 (-12.78)
As of October 21, the MABUX MBP/DBP Index (MDI) (comparison of market bunker prices and the MABUX digital bunker price benchmark) recorded an underestimation ratio exceeding $ 200 in Fujairah in the HSFO segment, a slight increase of underestimation margins in the VLSFO segment, and a decline of underestimation as well as overestimation in the MGO LS segment.
According to MDI, 380 HSFO fuel remained undervalued on October 21 in all four selected ports. The underprice premium was: Rotterdam - minus $152 (minus $147 the day before), Singapore - minus $170 (minus $176), Fujairah - minus $208 (minus $187), Houston - minus $74 (minus $77). The MDI index did not have a firm trend here: the undercharge decreased in Singapore and Houston, but increased in Rotterdam and Fujairah, and in Fujairah this indicator exceeded the $200 mark.
In the VLSFO segment, this fuel remained overvalued on October 21 in three ports out of four selected. The only underestimated port was Rotterdam - minus $19 (minus $9 a day earlier). In other ports, MDI registered the following overpricing: Singapore plus $60 (plus $65), Fujairah plus $32 (plus $37) and Houston plus $26 (plus $13). The overcharge dynamics did not have a sustainable trend, while the underpricing increased slightly.
In the MGO LS segment, the MDI index registered an undercharge in three out of four ports selected: Rotterdam - minus $ 61 (no change compared to the day before), Singapore - minus $ 63 (minus $ 70) and Houston - minus $ 1 (minus 2). Fujairah remains the only overvalued port in this bunker fuel segment: plus $89 versus plus $107 a day earlier. Underestimation, as well as overestimation, slightly decreased.
We do not expect any firm trend in Global bunker market on Oct.24: 380 HSFO – plus 2-5 USD/MT, VLSFO – plus 3-8 USD/MT, MGO LS – plus-minus 5-20 USD/MT.
Source: www.mabux.com
