MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) turned into upward trend on Aug.06:
380 HSFO – USD/MT – 450.00 (+3.50)
VLSFO – USD/MT – 547.62 (+3.30)
MGO – USD/MT – 641.89 (+3.19)
The MABUX ARA LNG Bunker Index, calculated as the average price of LNG as a marine fuel in the ARA region, showed a decline on August 09: 913.63 USD/MT (minus 3.33 USD). The LNG Bunker Index exceeds the cost of MGO LS in the port of Rotterdam by 346.63 USD (560 USD/MT as of 06 August), the difference in price compared to the day before has decreased by 10.33 USD. LNG bunker indices are available at www.mabux.com.
As of August 06, 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, except Fujairah, where MBP/DBP Index showed an overestimation of $ 11. In other ports, the underestimation was: minus $ 14 in Houston (minus $ 12 compared to the day before), minus $ 22 (minus $ 36) in Rotterdam and minus $ 34 (minus $ 33). The underpricing of 380 HSFO fuel in Fujairah was registered for the first time since April 13, 2021. At the same time, the overcharge margin of this fuel grade in Rotterdam continues to decline.
VLSFO, according to the MABUX DBP Index, was underestimated in all selected ports on 06 August. The VLSFO underpricing was minus $ 5 in Houston (minus $ 1 the day before), minus $ 19 (minus $ 16) in Fujairah, minus $ 34 (minus $ 29) in Singapore and minus $ 21 (minus $ 20) in Rotterdam. The overcharge levels have changed slightly.
As of August 06, MABUX DBP Index also registered the underpricing of MGO LS at all selected ports: in Houston – minus $ 16 (minus $ 13 the day before), in Rotterdam – minus $ 58 (minus $ 61), minus $ 73 (minus $ 74) in Singapore and minus $ 57 (minus $ 56) in Fujairah. The MGO LS underestimation margins also remained stable.
We expect global bunker prices may show slight downward trend: 380 HSFO – minus 2-4 USD/MT, VLSFO – minus 3-5 USD/MT, MGO LS – minus 3-6 USD/MT.
Source: www.mabux.com