• 2022 March 31 08:47

  MABUX: Upward correction may turn into downward sliding by the end of the day on Mar 31

  Bunker fuel prices to show upward correction, which may slow down by the end of the day, given the sharp decline in oil prices at the moment
  
  The Bunker Review was contributed by Marine Bunker Exchange (MABUX)

  MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO in the main world hubs) showed upward evolution on March 30:
  
  380 HSFO - USD/MT – 726.81 (+21.02)
  VLSFO - USD/MT – 942.44 (+14.50)
  MGO - USD/MT – 1 155.56 (+13.94)
  
  The correlation of MABUX MBP Index (market bunker prices) vs MABUX DBP Index (MABUX digital bunker price benchmark) on March 30 showed that 380 HSFO fuel grade was overpriced in all four selected ports: Rotterdam - plus $74 (plus $42 the day before), Singapore - plus $35 (plus $15), Fujairah - plus $49 (plus $15) and Houston - plus $85 (plus $82). 380 HSFO indices moved again over to the overcharge zone, and the margins continue to rise.
  
  In the VLSFO segment, the MABUX MBP/DBP Index also registered an overcharge on March 30 in all four selected ports: Rotterdam - plus $ 102 (versus plus $ 44 a day earlier), Singapore - plus $ 44 (plus $ 25), Fujairah - plus $ 71 (plus $46) and Houston plus $116 (plus $96). This segment of fuel also shows a sharp growth of overprice ratio with the max pace at Rotterdam - plus 58 points.
  
  MGO LS, according to the MABUX MBP/DBP Index, was undervalued on March 30 in only one port: Singapore - minus $3 (vs. minus $58 the day before). In other ports, fuel overprice margins were registered as: Rotterdam - plus $48 (plus $10), Fujairah - plus $117 (plus $17) and Houston - plus $114 (plus $96).
  
  A turn of the bunker fuel trend towards overpricing zone indicates a renewed growth of volatility levels in the market.
  
  We expect today bunker fuel prices to show upward correction, which may slow down by the end of the day, given the sharp decline in oil prices at the moment: 380 HSFO - plus 8-15 USD / MT, VLSFO - plus 15-25 USD / MT, MGO LS - plus 10-22 USD/MT.
  
  Source: www.mabux.com

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