MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) decreased on Aug.09:
380 HSFO – USD/MT – 443.27 (-6.73)
VLSFO – USD/MT – 545.52 (-2.10)
MGO – USD/MT – 634.79 (-7.10)
The MABUX ARA LNG Bunker Index, calculated as the average price for LNG as a marine fuel in the ARA region, rose again on August 10: 919.24 USD/MT (plus 5.61 USD). The LNG Bunker Index exceeds the cost of MGO LS in the port of Rotterdam by USD 382.24 (537 USD/MT as of August 09), the difference in price compared to the day before increased by USD 35.61. LNG bunker indices are available at www.mabux.com.
As of August 09, 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: $12 in Houston (minus $ 14 the day before), minus $ 3 (plus $ 11) in Fujairah, minus $ 38 (minus $ 22) in Rotterdam and minus $ 31 (minus $ 34) in Singapore. The most significant change of the MBP/DBP Index was recorded in Rotterdam (up $ 16), while Fujairah returned to the underpricing sector.
VLSFO, according to the MABUX DBP Index, was underestimated in all selected ports on August 09. The VLSFO underpricing was minus $ 2 in Houston (minus $ 5 the day before), minus $ 36 (minus $ 19) in Fujairah, minus $ 31 (minus $ 34) in Singapore and minus $ 41 (minus $ 21) in Rotterdam. Underestimation of this fuel grade, according to the MBP / DBP Index, has increased sharply in Fujairah (plus $ 17) and Rotterdam (plus $ 20).
MABUX MBP/DBP Index also registered the underpricing of MGO LS at all selected ports on August 09: in Houston – minus $ 14 (minus $ 16 the day before), in Rotterdam – minus $ 83 (minus $ 58), minus $ 72 (minus $ 73) in Singapore and minus $ 60 (unchanged) in Fujairah. The drop of bunker prices in Rotterdam yesterday caused significant changes in MABUX MBP/DBP Index at this port: the MGO LS underpricing ratio rose by $ 25.
We expect global bunker prices may continue firm downward trend: 380 HSFO – minus 8-10 USD/MT, VLSFO – minus 10-13 USD/MT, MGO LS – minus 13-18 USD/MT.
Source: www.mabux.com