• 2022 October 28 08:57

  MABUX: Firm upward evolution to continue in Global bunker market on Oct 28

  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) turned back to upward evolution on October 27:
  
  380 HSFO - USD/MT – 494.98 (+6.73)
  VLSFO - USD/MT – 796.37 (+10.01)
  MGO - USD/MT – 1 186.30 (+16.73)
  
  As of October 27, the MABUX MBP/DBP Index (MDI) (comparison of market bunker prices vs. the MABUX digital bunker price benchmark) registered a decrease of undervaluation in Fujairah below $ 200 in the HSFO segment, a rise of underpricing and a decline of overpricing in the VLSFO segment, and a significant growth of undercharge ratio in Houston in the MGO LS segment.
  
  According to MDI, 380 HSFO fuel remained undervalued on October 27 in all four selected ports. The underpricing ratio was: Rotterdam - minus $164 (minus $167 the day before), Singapore - minus $190 (minus $192), Fujairah - minus $189 (minus $210), Houston - minus $92 (minus $80). In all ports, except for Houston, the MDI declined slightly while in Fujairah dropped below the $200 mark again.
  
  In the VLSFO segment, this fuel grade was overpriced on October 27 in three ports out of four selected. The only underestimated port remained Rotterdam - minus $38 (minus $32 the day before). In other ports, MDI registered the following overprice margins: Singapore plus $30 (plus $33), Fujairah plus $8 (plus $18) and Houston plus $2 (plus $14). The undervaluation grew, while the overvaluation moderately declined.
  
  In the MGO LS segment, the MDI registered an undercharge on October 27 in three out of four ports selected: Rotterdam - minus $ 80 (minus $ 71 a day earlier), Singapore - minus $ 75 (minus $ 73) and Houston - minus $ 115 (minus 78). Fujairah remains the only overvalued port in this bunker fuel: plus $68 versus plus $91 the day before. The most significant change was the undervaluation’s rise in the port of Houston by 37 points.
  
  We expect firm upward evolution to continue in Global bunker market on October 28: 380 HSFO – plus 3-6 USD/MT, VLSFO – plus 4-9 USD/MT, MGO LS – plus 5-30 USD/MT.
  
  Source: www.mabux.com

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