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
