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 downward trend on September 16:
380 HSFO - USD/MT – 512.33 (-16.43)
VLSFO - USD/MT – 779.88(-18.00)
MGO - USD/MT – 1 089.98 (-28.82)
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 Sep. 16 in all selected ports. The underestimation premium was registered as: Rotterdam – minus $113 (minus $102 the day before), Singapore – minus $152 (minus $158 the day before), Fujairah – minus $153 (minus $162 the day before), in Houston – by minus $59 (minus $76 the day before). MDI increased in most of selected ports. The most significant changes were registered in Houston, where the undercharge level declined by 17 points.
In the VLSFO fuel grade segment, all four selected ports, according to the MDI index, were in the overcharge zone: Rotterdam – plus $7 (plus $3 the day before), Singapore – plus $41 (plus $23 the day before), Fujairah – plus $41 (plus $37 the day before) and Houston plus $20 (plus $14 the day before). As per MDI, upward trend registered in the VLSFO segment: the overcharge premium increased for all selected ports. The most significant changes were registered in Singapore – the overcharge level increased by 18 points.
MGO LS was undercharged in two out of four selected ports: in Rotterdam – by minus $6 (minus $64 the day before), in Singapore – by minus $77 (minus $123 the day before). This fuel grade remained overcharged in Fujairah – by plus $237 (plus $201 the day before) and in Houston – by plus $24 (plus $34 the day before). MDI index in MGO LS segment increased for most of selected ports. The most significant changes were registered in Rotterdam and Singapore, where the undercharged level decreased by 58 and 46 points respectively.
We expect Global bunker prices may turn into upward trend on Sep.19: the price for 380 HSFO may increase by 1-3 USD/MT, VLSFO – by plus 2-4 USD/MT, MGO LS – may rise by 10-20 USD/MT.
Source: www.mabux.com
