MABUX: No firm trend on Global bunker market on Sep.30

September 30, 2021

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) turned into downward correction on Sep.29:

380 HSFO – USD/MT – 494.60 (-2.71)
VLSFO – USD/MT – 590.05 (-5.19)
MGO – USD/MT – 689.61 (-0.68)

The MABUX ARA LNG Bunker Index – the average price of LNG as a marine fuel in the ARA region – continued downward trend on 30 September: 1043.97 USD / MT (minus 2.14 USD). The MABUX LNG Bunker Index exceeds the cost of MGO LS in the port of Rotterdam by USD 415.97 (USD 628 / MT as of September 29), the difference in price compared to the day before increased by USD 9.86. LNG bunker indices are available at www.mabux.com.

As of September 29, 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 overvalued in only two of the four ports: in Singapore – plus $ 35 (plus $ 37) and in Fujairah – plus $ 30 (plus $ 34). In Houston, the MABUX MBP / DBP Index registered an underpricing of 380 HSFO by minus $ 18 (minus $ 19). In Rotterdam, MABUX MBP / DBP Index recorded a 100 percent correlation between market price and digital benchmark (plus $ 10 a day earlier).

VLSFO, according to the MABUX MBP / DBP Index, was underestimated at three ports out of four selected on September 29. The underestimation margins were: in Rotterdam – minus $ 7 (minus $ 2 the day before), in Singapore – minus $ 12 (minus $ 5), in Fujairah – minus $ 14 (plus $ 5). In Houston, VLSFO fuel was overcharged by $ 6 (plus $ 5 the day before).

MGO LS, according to the MABUX MBP / DBP Index, was, in turn, underestimated on September 29 in all selected ports: in Rotterdam – minus $ 41 (minus $ 34 compared to the day before), minus $ 33 (minus $ 38) in Singapore, minus $ 49 (minus $ 51) in Fujairah and minus $ 15 (minus $ 20) in Houston. The most significant change was the growth of underestimation ratio in Rotterdam by $ 7.