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) declined on March 29:
380 HSFO - USD/MT – 705.79 (-20.46)
VLSFO - USD/MT – 927.94 (-20.89)
MGO - USD/MT – 1141.62 (-32.75)
As of Mar.29, a correlation of MABUX MBP Index (Market Bunker Prices) vs MABUX DBP Index (Digital Bunker Prices Benchmark) in four largest global hubs showed that 380 HSFO fuel grade was overvalued in all selected ports: Rotterdam - by plus $42 (minus $3 the day before), in Singapore - by plus $15 (minus $14 the day before), in Fujairah - by plus $15 (minus $16 the day before), in Houston by plus $82 (plus $34 the day before). The most significant changes were registered Rotterdam (the undercharge level decreased by 45 points, as a result this fuel grade became overvalued) and in Houston (the overcharge level increased by 48 points) on Mar.29.
VLSFO, according to the MABUX MBP /DBP Index, was overcharged on Mar. 29 in all selected ports. The overcharge ratio was registered in Rotterdam - plus $44 (plus $22 the day before), in Singapore by plus $25 (minus $21 the day before), in Fujairah - by plus $46 (plus $17 the day before), in Houston - plus $105 (plus $40 the day before). The most significant changes were registered in Houston where the overcharge level increased by 65 points on Mar.29.
MGO LS, according to the MABUX MBP /DBP Index, was overcharged in three out of four selected ports on Mar.29: in Rotterdam – by plus $10 (minus $5 the day before), in Fujairah – by plus $17 (minus $12 the day before), in Houston - by plus $96 (plus $14 the day before). In Singapore this fuel grade remained undervalued - by minus $58 (minus $98 the day before). The most significant changes were registered in Houston -the overcharge level increased by 82 points.
We expect global bunker prices may continue to slide down. The price for 380HSFO may decrease by 8-13 USD/MT, VLSFO may decline by 10-18 USD/MT, the price for MGO may fall by 15-25 USD/MT.
Source: www.mabux.com
