MABUX: Global bunker prices set to dip on Apr 20
Global bunker prices to plunge today
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) did not have firm trend and changed irregular on April 19:
380 HSFO - USD/MT – 741.36 (+3.54)
VLSFO - USD/MT – 953.69 (-3.93)
MGO - USD/MT – 1 236.60 (+0.21)
Correlation MABUX MBP Index (market bunker prices) vs MABUX DBP Index (MABUX digital bunker price benchmark) on April 19 remained in the overcharge zone for all types of fuel in selected ports. The overprice margins for 380 HSFO fuel were registered as: Rotterdam - plus $25 (plus $34 the day before), Singapore - plus $108 (plus $104), Fujairah - plus $85 (plus $96) and Houston - plus $87 (plus $84). The overcharge ratio did not change significantly.
In the VLSFO segment, MABUX MBP/DBP Index also recorded overpricing on April 19 in all four selected ports. Rotterdam - plus $74 (versus plus $71 a day earlier), Singapore - plus $33 (plus $36), Fujairah - plus $36 (no change) and Houston - plus $85 (plus $121). The most significant change was a 36-point reduction of fuel overcharge at the Port of Houston. In other ports, overvalue margins changed insignificantly.
MGO LS, according to MABUX MBP/DBP Index, was on April 19 in the overcharge zone in all ports, while overprice margins fell significantly: Rotterdam - plus $ 17 (plus $ 59 a day earlier), Singapore - plus $ 15 (plus $ 75), Fujairah - plus $77 (plus $91) and Houston - plus $117 (plus $130). Singapore marked the largest decline in overpricing - minus 60 points.
We expect global bunker prices to plunge today: 380 HSFO - minus 10-25 USD / MT, VLSFO - minus 15-30 USD / MT, MGO LS - minus 10-40 USD/MT.
Source: www.mabux.com