MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs continued slight upward trend on Jul.27:
380 HSFO – USD/MT – 454.46 (+2.20)
VLSFO – USD/MT – 561.01 (+2.31)
MGO – USD/MT – 652.33 (+0.71)
The MABUX ARA LNG Bunker Index– the average price of LNG as a marine fuel in the ARA region, rose slightly on July 28: 769.77 USD/MT (+1.49 USD). The LNG Bunker Index exceeds the cost of MGO LS in the Port of Rotterdam by 184.77 USD (585 USD/MT as of July 27), the difference in price compared to the day before increased by $ 2.49. LNG bunker indices are available at www.mabux.com.
As of July 27, 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 stayed undervalued in all selected ports: minus $ 22 in Houston (minus $ 25 the day before), minus $ 16 (unchanged) in Fujairah, minus $ 34 (minus $ 36) in Rotterdam and minus $ 48 (minus $ 47) in Singapore. The MBP/DBP Index ratio for all ports remains steady.
VLSFO, according to the MABUX DBP Index, was also underestimated in all selected ports on 27 July. The underpricing of VLSFO was minus $ 16 in Houston (minus $ 22 the day before), minus $ 38 (minus $ 37) in Fujairah, minus $ 43 (minus $ 39) in Singapore and minus $ 28 (minus $ 26) in Rotterdam. There is a $ 6 reduction in fuel underestimation registered in Houston.
On July 27, MABUX DBP Index also registered the underpricing of MGO LS at all selected ports: in Houston – minus $ 22 (minus $ 19 the day before), in Rotterdam – minus $ 53 (minus $ 51), minus $ 73 (minus $ 75) in Singapore and minus $ 53 (minus $ 47) in Fujairah. The most significant change of underestimation margin was recorded in Fujairah (up $ 6).
We expect global bunker prices do not have any firm trend today: 380 HSFO: plus-minus 1-2 USD/MT, VLSFO – plus-minus 1-2 USD/MT, MGO LS – plus-minus 1-3 USD/MT.
Source: www.mabux.com