MABUX: Irregular fluctuations to prevail in Global bunker market on Jul 04
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 firm downward movement on July 01:
380 HSFO - USD/MT – 721.83 (-1.37)
VLSFO - USD/MT – 1 061.07 (-7.09)
MGO - USD/MT – 1 330.71 (-25.47)
MABUX Market/Digital Bunker Index (MDI) (comparison of market bunker prices vs. digital bunker price benchmark MABUX) on July 01 showed irregular fluctuations. 380 HSFO fuel remained undervalued in three of the four ports selected: in Rotterdam - minus $ 85 (versus minus $ 73 a day earlier), Singapore - minus $ 110 (minus $ 96) and in Fujairah - minus $ 86 (minus $ 78). Houston remains the only port with 380 HSFO overpriced: plus $39 (plus $22). Fuel underprice premium continued to grow slightly in all three ports. In Houston, the overprice ratio also rose.
In the VLSFO grade segment, the MDI index registered an overpricing on July 01 in all four selected ports: Rotterdam - plus $59 (plus $53 the day before), Singapore - plus $243 (plus $213), Fujairah - plus $270 (plus $245) and Houston, plus $73 (plus $43). The most significant change was the increase of overprice premium in Singapore and Houston by 30 points.
In the MGO LS fuel segment, the MDI index on July 1 also showed a revaluation in all selected ports: Rotterdam - plus $ 49 (plus $ 19 the day before), Singapore - plus $ 83 (plus $ 45), Fujairah - plus $ 270 (plus $195) and Houston plus $145 (plus $78). All ports registered an increase in fuel overpricing margins, the most significant of which were Fujairah - plus 75 points, and Houston - plus 67 points.
We expect global bunker indices to have irregular fluctuations today: 380 HSFO – plus-minus 10-15 USD / MT, VLSFO – plus-minus 12-20 USD / MT, MGO LS – plus 20-50 USD/MT.
Source: www.mabux.com
