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) continued irregular changes with no firm trend as of June 16:
380 HSFO - USD/MT – 755.62 (-3.93)
VLSFO - USD/MT – 1 084.25 (-13.41)
MGO - USD/MT – 1 399.04 (+5.83)
MABUX Market/Digital Bunker Index (MDI) (comparison of market bunker prices vs. MABUX digital bunker price benchmark) on June 16 again showed irregular changes. In particular, 380 HSFO fuel turned out to be undervalued in three out of four selected ports: Houston moved back into the overcharge zone - plus $ 21 versus minus $ 14 a day earlier. Underpricing in other ports was registered as: in Rotterdam by minus $11 (minus $45 the day before), in Singapore by minus $78 (minus $82) and in Fujairah by minus $36 (minus $35). In Rotterdam, Singapore and Houston, the undercharge premium decreased, while in Fujairah it remained practically unchanged.
In the VLSFO segment, the MDI index registered an overpricing on June 16 in all four ports selected: Rotterdam - plus $ 67 (plus $ 62 the day before), Singapore - plus $ 199 (plus $ 188), Fujairah - plus $ 189 (plus $ 171) and Houston, plus $62 (plus $47). In this bunker fuel segment, MDI index showed an increase in overcharge premium in all selected ports.
In the MGO LS MDI fuel grade segment, MDI index on June 16 moved into the underestimation area in three ports at once: Rotterdam - minus $ 23 (plus $ 2 the day before), Singapore - minus $ 4 (plus $ 28) and Houston - minus $ 22 (plus $45). The only port where the MDI index registered an overcharge of MGO LS was Fujairah - plus $119 (plus $158). As a result of the day, an underpricing premium went up and overcharge one down. The most significant change was a 67-point reduction in fuel overpricing in Houston.
We expect global bunker indices to continue irregular changes with no firm trend: 380 HSFO – plus 5-10 USD / MT, VLSFO – plus 7-15 USD / MT, MGO LS – plus-minus 5-25 USD/MT.
Source: www.mabux.com
