MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs continued firm upward evolution on Jul.23:
380 HSFO – USD/MT – 451.06 (+4.32)
VLSFO – USD/MT – 558.13 (+5.42)
MGO – USD/MT – 648.26 (+4.14)
The MABUX ARA LNG Bunker Index – the average price of LNG as a marine fuel in the ARA region, fell on July 26: 766.97 USD / MT (-0.52 USD). The LNG Bunker Index exceeds the cost of MGO LS in the Port of Rotterdam by 186.97 USD (580 USD/MT as of 23 July), the difference in price compared to the day has decreased by $ 10. LNG Bunker Indexes are available at www.mabux.com.
As of 23 July, a correlation of MABUX MBP Index (Market Bunker Prices) vs MABUX DBP Index (Digital Bunker Prices Benchmark) in four largest global hubs showed all fuels grades at all selected ports were underpriced.
As per MABUX MBP Index, 380 HSFO fuel remained undervalued at all selected ports: minus $ 29 in Houston (minus $ 18 a day earlier), minus $ 35 (minus $ 36) in Rotterdam and minus $ 43 (unchanged) in Singapore. The difference in the MBP/DBP indices rose sharply in Houston by $ 11.
VLSFO, according to the MABUX DBP Index, was also underestimated at all selected ports on 23 July. The underpricing of VLSFO was minus $ 23 in Houston (minus $ 5 the day before), minus $ 36 (minus $ 28) in Fujairah, minus $ 39 (minus $ 33) in Singapore and minus $ 26 (unchanged) in Rotterdam. The most significant change of VLSFO’s undervaluation rate was recorded in Houston (up $ 18).
On July 23, MABUX DBP Index also registered the underpricing of MGO LS at all selected ports: at Houston – minus $ 26 (minus $ 10 the day before). at Rotterdam – minus $ 50 (minus $ 53 the day before), minus $ 65 (minus $ 68) in Singapore and minus $ 42 (minus $ 38) in Fujairah. The most significant change of underestimation ratio was recorded in Houston (up $ 16).
We expect global bunker prices may stay steady today: 380 HSFO: 0 – plus 2 USD/MT, VLSFO – 0 – plus 2 USD/MT, MGO LS – 0 – plus 5 USD/MT.
Source: www.mabux.com