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) changed sideways on January 28:
380 HSFO - USD/MT – 554.70 (-1.57)
VLSFO - USD/MT – 702.25 (-1.17)
MGO - USD/MT – 834.77 (+2.27)
The correlation of MABUX MBP Index (Market bunker price) vs MABUX DBP Index (MABUX digital bunker price benchmark) on January 28 showed that 380 HSFO fuel was overpriced in two out of four ports selected: Rotterdam - plus $ 13 (plus $ 11 the day before) and Houston - plus $19 (no change). Singapore and Fujairah remained in the undercharge zone for 380 HSFO fuel - minus $2 (minus $3 a day earlier) and minus $9 (minus $10) respectively. MABUX MBP/DBP Index across all ports is close to 100 percent correlation mark.
VLSFO, according to the MABUX MBP/DBP Index, remained overvalued on January 28 in three out of four selected ports: Houston moved into the underpricing zone - minus $2 versus plus $2 a day earlier. Overcharge margins for other ports were registered as: in Rotterdam - plus $29 (plus $26 a day earlier), in Singapore - plus $25 (plus $23), in Fujairah - plus $27 (plus $26). The MBP/DBP Index ratio for VLSFO fuel grade at all ports has not changed significantly.
As for MGO LS, this type of fuel grade, according to the MABUX MBP/DBP Index, was undervalued on January 28 at all selected ports: Houston eventually has also moved into the undervaluation zone: minus $ 13 (100-percent correlation the day before). In other ports, the underestimation margins were: in Rotterdam - minus $22 (no change), in Singapore - minus $27 (minus $28) and in Fujairah - minus $27 (no change). With the exception of Houston, where the MBP/DBP Index changed by 13 points, there were no significant changes registered in other ports.
We expect global bunker prices do not have any firm trend today and may change irregular: 380 HSFO - plus 1-4 USD, VLSFO - plus 2-5 USD, MGO LS - plus-minus 2-10 USD.
Source: www.mabux.com
