• 2022 August 24 08:58

  MABUX: Global bunker prices to turn into firm upward evolution on Aug 24

  

  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 irregular fluctuations with no firm trend on August 23:
  
  380 HSFO - USD/MT – 589.13 (-0.29)
  VLSFO - USD/MT – 842.31(+4.64)
  MGO - USD/MT – 1 185.01 (+17.93)
  
  As of August 23, the MABUX MBP/DBP Index (MDI) (comparison of market bunker prices versus the MABUX digital bunker price benchmark) showed overprice premium down and underprice one up in the HSFO segment, no firm overcharge dynamics in the VLSFO segment and the return of the Port of Rotterdam to the overprice zone in the MGO LS segment.
  
  380 HSFO fuel grade, according to MDI, remained undervalued on August 23 in three ports out of four selected: Houston remains the only overpriced bunker hub: plus $17 (vs. plus $4 the day before). In other ports, the underestimation premium was registered as: Rotterdam - minus $34 (vs. minus $25), Singapore - minus $75 (minus $69) and Fujairah - minus $99 (minus $100). The overcharge has decreased, while the underpricing has grown moderately.
  
  In the VLSFO fuel grade segment, all four selected ports, according to the MDI index, stably remain in the overcharge zone: Rotterdam - plus $ 29 (plus $ 37 a day earlier), Singapore - plus $ 71 (plus $ 69), Fujairah - plus $ 107 (plus $110) and Houston plus $62 (plus $40). As per MDI, there was no firm trend registered in the VLSFO segment: the overcharge premium decreased in Rotterdam and Fujairah but increased in Singapore and Houston.
  
  In the MGO LS segment, Rotterdam returned to the overprice zone: plus $ 2 versus minus $ 18 the day before. The port of Fujairah also remains overvalued - plus $ 200 (plus $ 180). Meantime, the MDI index recorded an underestimation of MGO LS fuel in the ports of Singapore and Houston: minus $34 (minus $77) and minus $11 (minus $55), respectively.
  
  We expect Global bunker prices to move upward on August 24: 380 HSFO – plus 15-20 USD/MT, VLSFO – plus 20-28 USD/MT, MGO LS – plus 15-20 USD/MT.
  
  Source: www.mabux.com

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