MABUX: Bunker prices may demonstrate irregular changes on Nov 17
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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) demonstrated slight irregular changes on November 16:
380 HSFO / USD/MT – 501.75 (-0.94)
VLSFO / USD/MT – 639.70 (+0.50)
MGO / USD/MT – 761.19(-2.36)
As of Nov. 16, 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 undervalued in two out of four ports: in Rotterdam - minus $ 11 (minus $23 the day before), in Singapore – minus $12 (minus $20 the day before). At the same time, in Fujairah the 380 HSFO fuel grade was overvalued by plus $13 (plus $9 the day before) and in Houston – by plus $6 (minus $4 the day before). The most significant changes on Nov.16 were registered In Rotterdam (the increase of $12).
VLSFO, according to the MABUX MBP / DBP Index, was overcharged on Nov. 16 in two out of four selected ports. The overcharge ratio was in Singapore - plus $25 (plus $26 the day before), in Fujairah - by plus $21 (plus $14). In Rotterdam and Houston this fuel grade was undercharged by minus $2 and minus $7 respectively (minus $7 and minus $12 respectively the day before). The most significant changes on Nov.16 for VLSFO were registered in Fujairah - the rise of $7.
MGO LS, according to the MABUX MBP / DBP Index, remained underestimated on Nov. 16 in two out of four selected ports: in Rotterdam - minus $ 25 (minus $31), minus $ 13 (minus $ 25) in Singapore. In Fujairah and Houston the MGO LS fuel grade was overcharged by plus $37 and $12 respectively (plus $ 20 and plus $11 respectively the day before) The most significant changes on Nov.16 for MGO LS were registered in Singapore - the increase of $12, and Fujairah - the rise of $17.
We expect global bunker prices may demonstrate irregular changes today: prices for 380 HSFO and for VLSFO may change within plus/minus 1-3 USD/MT, prices for MGO may increase by 5-10 USD/MT.
Source: www.mabux.com