Home International Shipping News MABUX: Global bunker market may turn into slight downward correction on Sep.01

MABUX: Global bunker market may turn into slight downward correction on Sep.01

MABUX: Global bunker market may turn into slight downward correction on Sep.01

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) did not have any firm trend on Aug.31:

380 HSFO – USD/MT – 456.29 (-0.33)
VLSFO – USD/MT – 549.46 (+0.95)
MGO – USD/MT – 647.29 (+0.39)

The MABUX ARA LNG Bunker Index, calculated as the average price for LNG as a marine fuel in the ARA region, rebounded on September 01: 1,024.35 USD/MT (plus 84.28 USD). The MABUX LNG Bunkering Index exceeds the cost of MGO LS in the port of Rotterdam by USD 447.35 (USD 577/MT as of August 31), the difference in price compared to the day before rose by USD 87.28. LNG bunker indices are available at www.mabux.com.

As of August 31, 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 was overvalued in three ports out of four: Singapore: plus $ 27 (plus $ 28 the day before), Houston plus $ 9 (plus $ 7) and Fujairah: plus $ 18 (minus $ 1). The only port where the MABUX MBP / DBP Index registered an underpricing is Rotterdam: minus $ 5 (minus $ 3).

VLSFO, according to the MABUX MBP/DBP Index, was also overvalued on August 31s at two of the four ports selected: Singapore: plus $ 4 (plus $ 10 the day before), and Houston: plus $ 10 (plus $ 5). In Rotterdam and Fujairah, the MABUX MBP/DBP Index showed an underestimation: minus $ 8 (minus $ 2) and minus $ 3 (minus $ 44), respectively. The most significant change was registered in Fujairah: minus $ 41.

MGO LS, according to the MABUX MBP / DBP Index, remained undervalued on August 31 in all selected ports. The registered underestimation ratio for MGO LS as: in Rotterdam – minus $ 29 (minus $ 21), minus $ 38 (minus $ 32) in Singapore, minus $ 20 (minus $ 71) in Fujairah and minus $ 22 (minus $ 19) in Houston. The most significant change in the MABUX MBP/DBP Index was the drop of underestimation value in Fujairah: minus $ 51.

We expect global bunker prices may turn into slight downward correction: 380 HSFO – minus 2-4 USD/MT, VLSFO – minus 2-5 USD/MT, MGO LS – minus 1-3 USD/MT.
Source: www.mabux.com

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