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 multidirectional changes on Aug. 29:
380 HSFO - USD/MT – 592.30 (-7.53)
VLSFO - USD/MT – 863.58(+6.01)
MGO - USD/MT – 1 247.69 (+8.74)
380 HSFO fuel grade, according to MDI (comparison MABUX MBP Index (market bunker prices) vs MABUX DBP Index (MABUX digital bunker benchmark)), were undervalued on Aug. 29 in three out of four ports. The underestimation premium was registered as: Rotterdam - minus $42 (minus $36 the day before), Singapore - minus $93 (minus $89 the day before), Fujairah - minus $113 (minus $104 the day before). This fuel grade remained overcharged in Houston – by plus $10 (plus $7 the day before). The most significant changes were registered in Fujairah, where the undercharge level rose by 10 points.
In the VLSFO fuel grade segment, all four selected ports, according to the MDI index, remain in the overcharge zone: Rotterdam - plus $31 (plus $34 the day before), Singapore - plus $ 55 (plus $73 the day before), Fujairah - plus $79 (plus $95 the day before) and Houston plus $53 (plus $55 the day before). As per MDI, downward trend registered in the VLSFO segment: the overcharge premium decreased for all selected ports. The most significant changes were registered in Singapore and Fujairah– the overcharge level decreased by 18 and 16 points respectively.
MGO LS became undercharged in two out of four selected ports: in Rotterdam – by minus $35 (minus $25 the day before) and in Singapore – by minus $72 (minus $57 the day before). In Fujairah this fuel grade remained overcharged by plus $123 (plus $136 the day before). In Houston MABUX MBP Index 100% correlated to MABUX DBP Index (minus $7 the day before). MDI index declined in most of selected ports. The most significant changes were registered in Singapore, where the undercharged level increased by 15 points.
We expect Global bunker prices to change irregularly on August 30: the price for 380 HSFO may increase by 15-20 USD/MT, VLSFO – by plus 20-30 USD/MT, MGO LS – may decline by 5-15 USD/MT.
