MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) increased on July 06:
380 HSFO – USD/MT – 466.75 (+2.63)
VLSFO – USD/MT – 572.12 (+3.31)
MGO – USD/MT – 662.10 (+6.03)
MABUX ARA LNG Bunker Index, available from April 29, 2021 and calculated as the average price of LNG as a marine fuel in the ARA region, decreased on July 07 down to 790.07 USD/MT ( -1.87 USD). The LNG Bunker Index exceeds the price of MGO LS at the Port of Rotterdam by $ 183.07 (607 USD/MT as of July 06). The price difference decreased (minus 13.87 USD compared to the previous day). More LNG Bunker Indexes on www.mabux.com.
As of July 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: from minus $ 24 in Houston (minus $ 20 the day before (t.d.b.)) and minus $ 21 (minus $ 23 t.d.b) in Fujairah to minus $ 36 (minus $ 29 t.d.b.) in Rotterdam and minus $ 44 (minus $ 42 t.d.b.) in Singapore. The most significant change was registered in Rotterdam (+$ 7).
VLSFO, according to MABUX DBP Index, was also underestimated in all selected ports. The undercharging ranged from minus $ 15 in Houston (versus minus $ 12 t.d.b.) and minus $ 25 (minus $ 26 t.d.b.) in Rotterdam to minus $ 49 (minus $46 t.d.b.) in Fujairah and minus $ 46 (minus $ 43 t.d.b.) in Singapore. The change of underestimation level was more or less the same in all ports: the increase of $ 3 in three of them.
On July 06, MABUX DBP Index also registered the underpricing of MGO LS in all selected ports, ranging from minus $ 17 (minus $ 18 t.d.b.) in Houston to minus $ 43 (minus $ 45 t.d.b.) in Rotterdam, minus $60 (minus $55 t.d.b.) in Singapore and minus $ 67 (minus $ 59 t.d.b.) in Fujairah. The most significant change of underestimation level was registered in Fujairah: increase of $ 8.
We expect bunker prices to decrease today. The price for 380 HSFO may decline by 9-14 USD, for VLSFO – by 17-22 USD. The price for MGO may fall by 15-20 USD.