MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) continued firm upward trend on Sep.28:
380 HSFO – USD/MT – 497.31 (+6.95)
VLSFO – USD/MT – 595.24 (+6.18)
MGO – USD/MT – 690.29 (+7.44)
The MABUX ARA LNG Bunker Index– the average price of LNG as a marine fuel in the ARA region – continued moderate decline on 29 September: 1046.11 USD / MT (minus 1.80 USD). The MABUX LNG Bunkering Index exceeds the cost of MGO LS in the port of Rotterdam by USD 406.11 (USD 640 / MT as of September 28), the difference in price compared to the day before has decreased by USD 11.80. LNG bunker indices are available at www.mabux.com.
As of September 28, 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 grade was still overvalued in three out of four ports. 380 HSFOs overprice margins were: in Rotterdam – plus $ 10 (plus $ 7 the day before), in Singapore – plus $ 37 (plus $ 43) and in Fujairah – plus $ 34 (plus $ 38). In Houston, the MABUX MBP / DBP Index registered an underpricing of 380 HSFO 380 by minus $ 19 (minus $ 13.) There is no single dynamics in the MABUX MBP / DBP Index’s correlation for 380 HSFO fuel so far.
VLSFO, according to the MABUX MBP / DBP Index, was still at the 100% correlation mark in all selected ports on September 28: in Rotterdam there was an underestimation of minus $ 2 (minus $ 4 compared to the day before), in Singapore – minus $ 5 (overcharge by plus $ 2 the day before), in Fujairah – minus $ 5 (plus $ 1). In Houston, VLSFO fuel was overpriced by $ 5 (100-percent correlation the day before).
MGO LS, according to the MABUX MBP / DBP Index, was underestimated on September 28 in all selected ports: in Rotterdam – minus $ 34 (minus $ 30 the day before), minus $ 38 (minus $ 32) in Singapore, minus $ 51 (minus $ 39) in Fujairah and minus $ 20 (minus $ 23) in Houston. The most significant change was the growth of MGO LS underpricing ratio in Fujairah by $ 12.
We expect global bunker prices may turn into slight downward correction today: 380 HSFO –0 – minus 2 USD/MT, VLSFO – minus 1-3 USD/MT, MGO LS – minus 2-5 USD/MT.