Home International Shipping News MABUX: Downward trend prevail on global bunker market on Aug.17

MABUX: Downward trend prevail on global bunker market on Aug.17

MABUX: Downward trend prevail on global bunker market on Aug.17

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) showed slight downward movement on Aug.16:

380 HSFO – USD/MT – 444.18 (-5.08)
VLSFO – USD/MT – 537.79 (-4.21)
MGO – USD/MT – 635.58 (-1.93)

The MABUX ARA LNG Bunker Index, calculated as the average price of LNG as a marine fuel in the ARA region, continued rising on August 17: 920.10 USD/MT (plus 0.55 USD). The LNG Bunkering Index exceeds the cost of MGO LS in the port of Rotterdam by USD 366.10 USD (USD 554/MT as of August 16), the difference in price compared to the day before increased by another USD 6.55. LNG bunker indices are available at www.mabux.com.

As of August 16, 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 this type of fuel was overvalued (plus $ 3 versus plus $ 15 a day earlier). The overestimation ratio in Fujairah has significantly decreased. The underestimation in other ports was minus $ 17 in Houston (minus $ 18 the day before), minus $ 28 (minus $ 36) in Rotterdam and minus $ 40 (minus $ 37) in Singapore. The most significant change in MABUX MBP/DBP Index was registered in Rotterdam (down of $ 8).

VLSFO, according to the MABUX MBP / DBP Index, was underestimated on all selected ports on August 16. The VLSFO underpricing was minus $ 11 in Houston (minus $ 13 the day before), minus $ 40 (minus $ 41) in Fujairah, minus $ 43 (minus $ 39) in Singapore and minus $ 35 (minus $ 32) in Rotterdam. VLSFO’s underestimation margins remain stable across all ports.

MABUX MBP/DBP Index also registered the underpricing of MGO LS at all selected ports on August 16: in Houston – minus $ 26 (minus $ 29 the day before), in Rotterdam – minus $ 69 (minus $ 64), minus $ 86 (minus $ 78) in Singapore and minus $ 67 (minus $ 61) in Fujairah. The most significant change was the growth of the MABUX MBP / DBP Index in Singapore (plus $ 8).

We expect global bunker prices may continue downward movement today: 380 HSFO – minus 4-6 USD/MT, VLSFO – minus 5-8 USD/MT, MGO LS – minus 7-11 USD/MT.

Source: www.mabux.com

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