MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) rose firmly on Aug.24:
380 HSFO – USD/MT – 441.11(+11.37)
VLSFO – USD/MT – 532.56(+11.23)
MGO – USD/MT – 633.81(+16.57)
The MABUX ARA LNG Bunker Index, calculated as the average price of LNG as a marine fuel in the ARA region, continued a slight upward evolution on August 25: 980.05 USD/MT (plus 1.83 USD). The LNG Bunker Index exceeds the cost of MGO LS in the port of Rotterdam by USD 430.05 (550 USD/MT as of August 24), the difference in price compared to the day before decreased by USD 15.17. LNG bunker indices are available at www.mabux.com.
As of August 24, 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 returned to the overpriced sector in Rotterdam: plus $ 2 (minus $ 24 the day before), Singapore: plus $ 25 (minus $ 19) and Fujairah: plus $ 2 (plus $ 14) and remained undervalued in Houston: minus $ 12 (minus $ 2). The significant change of the MABUX MBP/DBP Index vector is the result of current sharp increase of bunker prices on global bunker market.
VLSFO, according to the MABUX MBP / DBP Index, was overpriced on August 24 in Rotterdam: plus $ 6 (minus $ 10 the day before) and Singapore: plus $ 11 (minus $ 28). At the same time, an underestimation of this fuel grade was still recorded in Fujairah: minus $ 27 (minus $ 15). In Houston, according to the MABUX MBP/DBP Index, VLSFO was underestimated, although a day ago it was overcharged: minus $ 6 (plus $ 7).
The MABUX MBP/DBP Index registered the underpricing of MGO LS in all selected ports on August 24. Underestimation margins were: in Rotterdam – minus $ 21 (minus $ 55), minus $ 26 (minus $ 76) in Singapore, minus $ 46 (minus $ 43) in Fujairah and minus $ 24 (plus $ 3) in Houston. Underestimation ratio does not have any single behavior and changes irregular in different ports.
We expect global bunker prices to continue driving up today: 380 HSFO – plus 5-10 USD/MT, VLSFO – plus 6-12 USD/MT, MGO LS – plus 10-16 USD/MT.
Source: www.mabux.com