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) continued firm downward trend on November 04:
380 HSFO / USD/MT – 509.14 (-8.28)
VLSFO / USD/MT – 637.24 (-7.55)
MGO / USD/MT – 761.04 (-7.28)
As of November 04, 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 undervalued in two out of the four selected ports: in Rotterdam - minus $ 15 (minus $ 21 compared to the previous day) and in Singapore - minus $ 18 (minus $ 24). In Fujairah, the MABUX MBP / DBP Index registered an overcharge of 380 HSFO by $ 9 (minus $ 1), and in Houston a 100 percent Index correlation was recorded.
VLSFO, according to the MABUX MBP / DBP Index, moved into the overpricing zone on November 04 at three of the four selected ports: in Rotterdam - plus $ 3 (minus $ 7 the day before), in Singapore - plus $ 9 (minus $ 3) and in Fujairah - plus $ 28 (plus 16). The only port where VLSFO fuel is still undercharged is Houston - minus $ 6 (minus $ 12).
The situation with MGO LS, according to the MABUX MBP / DBP Index, has also changed: as of November 04, this fuel grade went into the overcharge segment in two out of four selected ports: in Fujairah - plus $ 9 (minus $ 1 the day before) and in Houston - plus $ 13 (minus $ 6). Meantime, MGO LS fuel remained undervalued in Rotterdam - minus $ 40 (minus $ 42) and in Singapore - minus $ 25 (minus $ 35).
Sharp fluctuations of indices on the global fuel market in recent days have hindered the formation of a stable trend of bunker prices.
We expect global bunker prices may show quite sharp irregular fluctuations with no firm trend today: 380 HSFO – minus 8-12 USD/MT, VLSFO – minus 10-15 USD/MT, MGO LS – plus-minus 5-8 USD/MT.
Source: www.mabux.com
