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 and changed sideways on February 01:
380 HSFO - USD/MT – 567.57 (-0.23)
VLSFO - USD/MT – 712.20 (-0.69)
MGO - USD/MT – 845.54 (+1.41)
The correlation of MABUX MBP Index (Market bunker price) vs MABUX DBP Index (MABUX digital bunker price benchmark) on February 01 showed that 380 HSFO fuel grade was overpriced again in only two ports out of four selected (versus three ports a day earlier): Singapore returned to the underestimation zone: minus $7 vs. plus $3 the day before. Another port where 380 HSFO fuel was underestimated is Fujairah - minus $13 (minus $8). In Rotterdam and Houston, the MABUX MBP/DBP Index registered an overpricing of 380 HSFO by plus $10 (plus $16) and plus $36 (plus $42), respectively.
VLSFO, according to the MABUX MBP/DBP Index, remained overvalued on February 01 in all selected ports. VLSFO overprice margins were registered as: in Rotterdam - plus $19 (plus $27 a day earlier), in Singapore - plus $11 (plus $22), in Fujairah - plus $17 (plus $25) and in Houston - plus $4 (minus $21). For all ports, there was a decrease in the overcharge margins by 8 -11 points.
MGO LS, according to the MABUX MBP/DBP Index, was undervalued on February 01 in three of the four selected ports: in Rotterdam - minus $ 14 (minus $ 23 the day before), in Singapore - minus $ 18 (minus $ 27) and in Fujairah - minus $19 (minus $31). The only port where the MABUX MBP/DBP Index registered an overcharge of the MGO LS is Houston - plus $39 versus plus $28 a day earlier.
We expect global bunker prices do not have any firm trend today: 380 HSFO - plus-minus 1-3 USD, VLSFO - plus-minus 1-4 USD, MGO LS - plus 3-7 USD.
Source: www.mabux.com
