• 2022 August 25 09:01

  MABUX: Firm upward evolution to continue in Global bunker market on Aug 25

  

  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 firm upward evolution on August 24:
  
  380 HSFO - USD/MT – 600.21 (+11.08)
  VLSFO - USD/MT – 856.20 (+13.89)
  MGO - USD/MT – 1 204.13 (+19.12)
  
  As of August 24, the MABUX MBP/DBP Index (MDI) (comparison of market bunker prices and the MABUX digital bunker price benchmark) showed a continued trend for overprice premium down and underprice one up in the HSFO segment, a moderate decrease of overprice premium in all selected ports in the VLSFO segment and 100-percentage correlation of spot and digital indices at the Port of Rotterdam in the MGO LS segment.
  
  380 HSFO fuel grade, according to MDI, remained undervalued on August 24 in three ports out of four selected: Houston still remains in the overprice zone: plus $13 (plus $17 the day before). In other ports, the underestimation was: Rotterdam - minus $44 (versus minus $34 a day earlier), Singapore - minus $86 (minus $75) and Fujairah - minus $101 (minus $99). The overcharge premium continued to decline, while the underpricing is growing slightly.
  
  In the VLSFO segment, all four selected ports remain in the overcharge zone, according to the MDI index: Rotterdam - plus $ 22 (plus $ 29 the day before), Singapore - plus $ 54 (plus $ 71), Fujairah - plus $ 82 (plus $ 107) and Houston - plus $41 (plus $62). Overcharge premium moderately declined in the VLSFO segment in all selected ports.
  
  In the MGO LS segment, Rotterdam demonstrated a 100% correlation of the MABUX MBP/DBP Index (versus plus $2 a day earlier). The port of Fujairah remains the only overestimated hub - plus $203 (plus $200). The MDI index also recorded an underestimation of MGO LS fuel in the ports of Singapore and Houston: minus $34 (unchanged) and minus $18 (minus $11), respectively.
  
  We expect firm upward trend to prevail in the global bunker market on August 25: 380 HSFO – plus 3-7 USD/MT, VLSFO – plus 4-9 USD/MT, MGO LS – plus 15-45 USD/MT.
  
  Source: www.mabux.com

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