MABUX: Global bunker prices to continue firm upward evolution on Aug 19
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 slight upward evolution on August 18:
380 HSFO - USD/MT – 596.04 (+5.58)
VLSFO - USD/MT – 831.99 (+1.95)
MGO - USD/MT – 1 147.83 (+5.83)
As of August 18, the MABUX MBP/DBP Index (MDI) (comparison of market bunker prices vs. the MABUX digital bunker price benchmark) showed minor changes in the HSFO segment, no firm overcharge dynamics in the VLSFO segment, the return of the Port of Houston to the underpricing zone, and the Port of Rotterdam - to the overprice zone in the MGO LS segment.
380 HSFO fuel grade, according to MDI, remained undervalued on August 18 in three ports out of four selected: Houston remains the only overpriced bunker hub: plus $33 (no change from the day before). In other ports, the underestimation was registered as: Rotterdam - minus $12 (versus minus $21 the day before), Singapore - minus $43 (no change) and Fujairah - minus $57 (minus $62). In general, the MDI index had no significant changes in the HSFO segment.
In the VLSFO fuel grade segment, all four selected ports, according to the MDI index, were in the overcharge zone on August 18: Rotterdam - plus $ 64 (plus $ 57 a day earlier), Singapore - plus $ 74 (plus $ 85), Fujairah - plus $ 143 (plus $145) and Houston plus $64 (plus $80). The MDI index did not have any firm trend in the VLSFO segment: the overcharge premium decreased in Singapore, Fujairah and Houston, but rose in Rotterdam.
In the MGO LS segment, Houston returned to the underprice zone on August 18: minus $ 29 versus plus $ 2 a day earlier. The port of Singapore also remains underestimated - minus $45 (minus $52). Rotterdam, on the contrary, moved into the overprice zone and joined Fujairah: plus $1 (minus $7) and plus $227 (plus $217), respectively.
We expect Global bunker prices to continue firm upward evolution on August 19: 380 HSFO – plus 8-15 USD/MT, VLSFO – plus 10-20 USD/MT, MGO LS – plus 8-25 USD/MT.
Source: www.mabux.com
