MABUX: Global bunker prices to trend lower on Jan 25
Global bunker prices to trend lower today
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 any firm trend on January 24:
380 HSFO - USD/MT – 542.23 (-2.63)
VLSFO - USD/MT – 695.14 (+0.29)
MGO - USD/MT – 821.43 (+4.20)
The correlation of MABUX MBP Index (Market bunker price) vs MABUX DBP Index (MABUX digital bunker price benchmark) on January 24 returned Rotterdam to the overcharge zone again: plus $ 10 against a 100% match of the indices a day earlier. 380 HSFO fuel grade also remained overpriced in Houston: plus $17 (plus $16). In Singapore and Fujairah, the MABUX MBP/DBP Index registered an underpricing of 380 HSFO by $11 (minus $15) and $1 (minus $14). Changes of the indices’ ratio for fuel 380 HSFO were not significant.
VLSFO, according to the MABUX MBP/DBP Index, was overvalued on January 24 in all four selected ports: in Rotterdam - plus $34 (plus $27 the day before), in Singapore - plus $41 (plus $33), in Fujairah - plus $ 42 (plus $33). Houston also passed into the overcharge zone: plus $15 versus minus $8 the day before. Overpricing indexes for all ports rose moderately, and in Houston it exceeded the 20-point mark.
As for MGO LS, this type of fuel, according to the MABUX MBP/DBP Index, was undervalued on January 24 in three ports out of four selected: in Rotterdam - minus $ 16 (minus $ 22 a day earlier), in Singapore - minus $ 26 (minus $35) and in Fujairah - minus $14 (minus $28). In Houston, the MABUX MBP/DBP Index registered an overpricing of the MGO LS by $36 (plus $6 a day earlier). The most significant change, according to the MABUX MBP/DBP Index, was the increase of the MGO LS overprice margin in the port of Houston - by 30 points.
We expect global bunker prices to trend lower today: 380 HSFO - minus 5-10 USD, VLSFO - minus 6-11 USD, MGO LS - minus 13-18 USD.
Source: www.mabux.com