MABUX: Slight downward correction in Global bunker market on June 30

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) finished the trading day with no any firm trend on June 29:

380 HSFO - USD/MT – 734.52(+3.69)
VLSFO - USD/MT – 1 069.54 (-3.09)
MGO - USD/MT – 1 378.31 (-11.62)

MABUX Market/Digital Bunker Index (MDI) (comparison of market bunker prices and digital bunker price benchmark MABUX) on June 29 remained the phase of multidirectional fluctuations. In particular, 380 HSFO fuel was undervalued in three out of four selected ports: in Rotterdam - minus $ 68 (versus minus $ 55 the day before), in Singapore - minus $ 90 (minus $ 80) and in Fujairah - minus $ 72 (minus $ 59). Houston remains the only port with 380 HSFO overpriced: plus $27 (plus $42). Fuel undercharge decreased slightly in all three ports. In Houston, the overprice premium also declined.

In the VLSFO segment, the MDI index registered an overpricing on June 29 in all four ports selected: Rotterdam - plus $ 26 (plus $ 73 a day earlier), Singapore - plus $ 227 (plus $ 231), Fujairah - plus $ 230 (plus $ 253) and Houston - plus $35 (plus $58). In this bunker fuel segment, the MDI showed an overprice reduction in all selected ports, with the biggest change of a 47-point drop in Rotterdam.

In the MGO LS fuel segment, MDI index on June 29 also showed an overcharge in all four ports selected: Rotterdam - plus $ 87 (plus $ 63 the day before), Singapore - plus $ 58 (plus $ 62), Fujairah - plus $ 240 (plus $185) and Houston plus $59 (plus $67). The MDI index did not have any single trend: the overcharge premium rose in Rotterdam and Fujairah but dropped in Singapore and Houston.

We expect global bunker indices to turn into downward correction today: 380 HSFO – plus 5-12 USD / MT, VLSFO – plus 7-16 USD / MT, MGO LS – 0 - minus 35 USD/MT.

Source: www.mabux.com