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) increased on September 28:
380 HSFO: USD/MT – 495.41 (+2.84)
VLSFO: USD/MT – 747.92 (+5.11)
MGO: USD/MT – 1 074.89 (+13.53)
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. 28 in all selected ports. The underestimation premium was registered as: Rotterdam – minus $93 (minus $87 the day before), Singapore – minus $142 (minus $141 the day before), Fujairah – minus $141 (minus $136), in Houston – by minus $65 (minus $62 the day before). The underestimation level decreased in all selected ports. The most significant changes were registered in Rotterdam and Fujairah, where the undercharge level increased by 6 and 5 points respectively.
In the VLSFO fuel grade segment, all four selected ports, according to the MDI index, were in the overcharge zone: Rotterdam – plus $1 (plus $7 the day before), Singapore – plus $46 (plus $51 the day before), Fujairah – plus $58 (plus $70 the day before) and Houston plus $62 (plus $61). As per MDI – upward trend prevails in the VLSFO segment: the overcharge premium declined in all selected ports except of Houston. The most significant changes were registered in Fujairah, where overcharge level decreased by 12 points.
MGO LS was undercharged in two out of four selected ports: in Rotterdam – by minus $40 (minus $47 the day before), in Singapore – by minus $114 (minus $96 the day before). This fuel grade remained overcharged in Fujairah – by plus $193 (plus $208 the day before) and in Houston – by plus $12 (no change). MDI index in MGO LS segment decreased for two out of four selected ports. The most significant changes were registered in Singapore, where the undercharge level increased by 18 points.
We expect Global bunker prices may continue to rise on September 29: the price for 380 HSFO may increase by 8-15 USD/MT, VLSFO – by 15-20 USD/MT, MGO LS – may rise by 25-40 USD/MT.
Source: www.mabux.com
