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) turned into firm uptrend again on January 26:
380 HSFO - USD/MT – 547.46 (+9.09)
VLSFO - USD/MT – 695.82 (+5.90)
MGO - USD/MT – 825.38 (+9.14)
The correlation of MABUX MBP Index (Market bunker price) vs MABUX DBP Index (MABUX digital bunker price benchmark) on January 26 showed that 380 HSFO fuel grade was overpriced in three ports out of four selected: in Rotterdam - plus $ 16 (no change from the day earlier), in Fujairah - plus $4 (plus $16) and in Houston - plus $22 (plus $30). The only port where the MABUX MBP/DBP Index continue recording 380 HSFO’s underpricing is Singapore - minus $3 (no change from the previous day).
VLSFO, according to the MABUX MBP / DBP Index, remained overvalued on January 26 in all four selected ports: in Rotterdam - plus $ 34 (plus $ 42 a day earlier), in Singapore - plus $ 35 (plus $ 49), in Fujairah - plus $ 44 (plus $52) and in Houston plus $11 (plus $20). Overprice indices for all ports declined slightly.
According to the MABUX MBP/DBP Index, MGO LS was undervalued on January 26 in three ports out of four selected: in Rotterdam - minus $ 2 (minus $ 4 a day earlier), in Singapore - minus $ 11 (minus $14) and in Fujairah - minus $3 (no change from the day before). In Houston, the MABUX MBP/DBP Index registered MGO LS’s overpricing by $26 (plus $30 the day before). MGO LS segment of fuel continues the trend towards narrowing of underestimation margins and gradual transition of indices to the overestimation zone.
We expect global bunker prices to continue firm upward evolution today: 380 HSFO - plus 5-10 USD, VLSFO - plus 6-11 USD, MGO LS - plus 7-12 USD.
Source: www.mabux.com
