MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs continued upward evolution on Jul.28:
380 HSFO – USD/MT – 455.14 (+0.68)
VLSFO – USD/MT – 562.46 (+1.45)
MGO – USD/MT – 653.27 (+0.94)
The MABUX ARA LNG Bunker Index, calculated as the average price of LNG as a marine fuel in the ARA region, decreased on July 29: 769.58 USD/MT (-0.19 USD). The LNG Bunker Index exceeds the cost of MGO LS in the port of Rotterdam by 183.58 USD (586 USD / MT as of July 28), the difference in price compared to the day before decreased by $ 1.19. LNG bunker indices are available at www.mabux.com.
As of July 28, 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 remained undervalued in all selected ports: minus $ 17 in Houston (minus $ 22 the day before), minus $ 19 (minus $ 16) in Fujairah, minus $ 30 (minus $ 34) in Rotterdam and minus $ 47 (minus $ 48) in Singapore. MABUX MBP/DBP Index for all ports did not change significantly.
VLSFO, according to MABUX DBP Index, was also underestimated in all selected ports on 28 July. The underpricing margins were minus $ 11 in Houston (minus $ 16 the day before), minus $ 36 (minus $ 38) in Fujairah, minus $ 42 (minus $ 43) in Singapore and minus $ 23 (minus $ 28) in Rotterdam. VLSFO underestimation ratio continued to narrow slightly.
On July 28, MABUX DBP Index also registered the underpricing of MGO LS at all selected ports: in Houston – minus $ 24 (minus $ 22 the day before), in Rotterdam – minus $ 53 (unchanged), minus $ 72 (minus $ 73) in Singapore and minus $ 59 (minus $ 53) in Fujairah. MGO LS continues to be the most undervalued bunker fuel in all selected ports.
We expect global bunker prices may rise slightly: 380 HSFO: plus 1-4 USD/MT, VLSFO – plus 2-5 USD/MT, MGO LS – 0 – plus 4 USD/MT.
Source: www.mabux.com