MABUX: Global bunker prices stay steady on Nov 03
The Bunker Review was contributed by Marine Bunker Exchange (MABUX)
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) did not have the firm trend and changed irregular on November 02:
380 HSFO / USD/MT – 520.04 (+0.27)
VLSFO / USD/MT – 648.83 (-0.38)
MGO / USD/MT – 771.77 (+2.32)
As of November 02, 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 was still undervalued in three out of four ports: in Rotterdam - minus $ 14 (minus $ 9 compared to the previous day), in Singapore - minus $ 18 (minus $ 20) and in Houston - minus $ 9 (minus $ 3). In Fujairah MABUX MBP / DBP Index registered an overpricing of the 380 HSFO by plus $ 9 (plus $ 8 a day earlier). Index changes for 380 HSFO were minimal.
VLSFO, according to the MABUX MBP / DBP Index, remained overvalued on November 02 only in two of the four selected ports: in Singapore - plus $ 6 (plus $ 2 the day before) and in Fujairah - plus $ 16 (minus $ 15). At the same time, the MABUX MBP / DBP Index registered an VLSFO undercharge in Rotterdam by minus $ 1 (plus $ 5 the day before) and in Houston by minus $ 8 (minus $ 6). In general, the correlation of the MABUX MBP / DBP Index for VLSFO is gradually approaching 100-percent mark.
As for MGO LS, this fuel grade remained underestimated on November 02 in all selected ports. The underestimation margins were registered as: in Rotterdam - minus $ 34 (minus $ 30 compared to the day before), minus $ 31 (minus $ 27) in Singapore, minus $ 5 (minus $ 2) in Fujairah and minus $ 5 in Houston (plus $ 2). There were no significant changes of the MABUX MBP / DBP Index correlation registered for MGO LS fuel.
We do not expect any drastic changes in global bunker prices today: 380 HSFO – 0 - minus 1 USD/MT, VLSFO – 0 - minus 1 USD/MT, MGO LS – plus-minus 1-3 USD/MT.
Source: www.mabux.com