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 upward evolution on September 06:
380 HSFO - USD/MT – 564.23 (+3.51)
VLSFO - USD/MT – 826.77 (+8.42)
MGO - USD/MT – 1 210.64 (+15.64)
As of September 06, the MABUX MBP/DBP Index (MDI) (comparison of market bunker prices and the MABUX digital bunker price benchmark) showed a moderate growth of underprice premium at all ports in the HSFO segment, a significant decline of VLSFO overcharge ratio in Singapore and a rise of MGO LS undercharge margin in Rotterdam.
There were no significant changes registered in the 380 HSFO segment. According to MDI, this type of fuel stayed in the underestimation zone in all four selected ports on September 06. There was the following underprice premium: Rotterdam - minus $84 (minus $60 the day before), Singapore - minus $123 (minus $103), Fujairah - minus $135 (minus $110), Houston - minus $21 (minus $5). Undercharge levels moderately increased in all ports.
In the VLSFO segment, all ports, on the contrary, were in the overcharge zone on September 6: Rotterdam - plus $ 17 versus plus $ 27 a day earlier, Singapore - plus $ 15 (plus $ 46), Fujairah - plus $ 37 (plus $ 67) and Houston, plus $42 (plus $56). Overcharge premium dropped in all selected ports. The most significant change in the MDI index was registered in Singapore: 31 points down.
In the MGO LS segment, the Rotterdam-Singapore pair was still undervalued by minus $84 (minus $13 a day earlier) and minus $113 (minus $58), respectively, while the Fujairah-Houston pair was overvalued by plus $120 (plus $150) and plus $6 (plus $36). Undercharge has risen, while the overcharge decreased. Here, the MDI index showed the most significant change in Rotterdam – overprice up by 71 points.
We expect global bunker indices to change trend for downward movement on Sep.07: 380 HSFO – minus 8-14 USD/MT, VLSFO – minus 12-20 USD/MT, MGO LS – minus 15-45 USD/MT.
Source: www.mabux.com
