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) demonstrated slight downward correction on June 30:
380 HSFO - USD/MT – 723.20 (-11.32)
VLSFO - USD/MT – 1 068.16 (-1.38)
MGO - USD/MT – 1 356.18 (-22.13)
MABUX Market/Digital Bunker Index (MDI) (comparison of market bunker prices vs. digital bunker price benchmark MABUX) on June 30 continued irregular fluctuations. In particular, 380 HSFO fuel remained undervalued in three out of four selected ports: in Rotterdam - minus $ 73 (versus minus $ 68 a day earlier), Singapore - minus $ 96 (minus $ 90) and in Fujairah - minus $ 78 (minus $ 59). Houston remains the only port with 380 HSFO overvalued: plus $22 (plus $28). Fuel underprice premium began to grow slightly again in all three ports. In Houston, the overprice ratio has declined.
In the VLSFO segment, the MDI index registered an overpricing on June 30 in all four selected ports: Rotterdam - plus $ 53 (plus $ 26 the day before), Singapore - plus $ 213 (plus $ 227), Fujairah - plus $ 245 (plus $ 230) and Houston - plus $43 (plus $35). In this bunker fuel segment, MDI was not clearly defined: in Singapore, the overprice dropped, while in the other three ports it continued to grow.
In the MGO LS fuel segment, MDI index on June 30 also showed a revaluation in all selected ports: Rotterdam - plus $ 19 (plus $ 87 the day before), Singapore - plus $ 45 (plus $ 58), Fujairah - plus $ 195 (plus $240) and Houston plus $78 (plus $59). Overcharge tended to decrease in Rotterdam, Singapore and Fujairah. In Houston, the MDI index showed moderate growth. The most significant change was a reduction of overprice premium in Rotterdam by 68 points.
We expect global bunker indices to turn into downward correction today: 380 HSFO – plus 5-20 USD / MT, VLSFO – minus 10-25 USD / MT, MGO LS – minus 20-50 USD/MT.
Source: www.mabux.com
