MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) continued slight downward movement on Aug.17:
380 HSFO – USD/MT – 441.89 (-2.29)
VLSFO – USD/MT – 534.98 (-2.81)
MGO – USD/MT – 631.13 (-4.45)
The MABUX ARA LNG Bunker Index, calculated as the average price of LNG as a marine fuel in the ARA region, showed a sharp increase on August 18: 982.31 USD / MT (plus 62.21 USD). The LNG Bunker Index exceeds the cost of MGO LS in the port of Rotterdam by 433.31 USD (549 USD/MT as of August 17), the difference in price compared to the day before has increased by another 67.21 USD. The MABUX ARA LNG Bunker Index continues to rise amid a firm uptrend of the TTF gas index. LNG bunker indices are available at www.mabux.com.
As of August 17, 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 still overvalued, while overcharge ratio has increased: plus $ 11 versus plus $ 3 a day earlier. The underpricing for the rest of the ports was: minus $ 15 in Houston (minus $ 17), minus $ 40 (minus $ 28) in Rotterdam and minus $ 37 (minus $ 40) in Singapore. The most significant change in MABUX MBP/DBP Index was registered in Rotterdam: up $ 12.
VLSFO, according to the MABUX MBP/DBP Index, was underestimated in all selected ports on August 17. The VLSFO underpricing was minus $ 8 in Houston (minus $ 11 the day before), minus $ 32 (minus $ 40) in Fujairah, minus $ 35 (minus $ 43) in Singapore and minus $ 34 (minus $ 35) in Rotterdam. There was a significant decline of undervaluation margins registered in Fujairah and Singapore: $ 8 in each port.
MABUX MBP/DBP Index also registered the underpricing of MGO LS at all selected ports on August 17: in Houston – minus $ 22 (minus $ 26 the day before), in Rotterdam – minus $ 63 (minus $ 69), minus $ 78 (minus $ 86) in Singapore and minus $ 52 (minus $ 67) in Fujairah. The most significant change of MABUX MBP / DBP Index was registered in Fujairah (down $ 15).
We expect global bunker prices do not have firm trend today and may change irregular: 380 HSFO – minus 2-4 USD/MT, VLSFO – minus 2-5 USD/MT, MGO LS – plus-minus 2-4 USD/MT.
Source: www.mabux.com