MABUX: bunker indexes may change irregularly on June 14
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) demonstrated upward changes on June 11:
380 HSFO – USD/MT – 441.46 (+1.94)
VLSFO – USD/MT – 546.13 (+2.21)
MGO – USD/MT – 640.00 (+9.13)
MABUX ARA LNG Bunker Index, available from April 29, 2021 and calculated as the average price of LNG as a marine fuel in the ARA region, slightly decreased on June 14 down to 631.96 USD/MT (-2.55 USD). The LNG Bunker Index exceeds the price of MGO LS at the Port of Rotterdam by $ 58.96 (573 USD/MT as of June 11). The price difference has decreased (minus 7,55 USD compared to the previous day). More LNG Bunker Indexes on www.mabux.com.
As of June 11, a correlation of MABUX MBP Index (Market Bunker Prices) vs MABUX DBP Index (Digital Bunker Prices Benchmark) in four largest global hubs showed that 380 HSFO fuel remained undervalued in all selected ports: from minus $ 20 in Fujairah (minus $ 17 the day before (t.d.b.)) to minus $ 41 (minus $ 45 t.d.b.) in Rotterdam and minus $ 54 (minus $ 56 t.d.b.) in Singapore. The most significant change of underestimation margin was recorded in Rotterdam: a lost by $ 4. The rest of the changes are minor.
VLSFO, according to MABUX DBP Index, was also underestimated in all selected ports. The undercharging ranged from minus $ 11 in Houston (versus minus $ 10 t.d.b.) and minus $ 27 (minus $ 27 t.d.b.) in Rotterdam to minus $ 46 (minus $ 42 t.d.b.) in Fujairah and minus $ 51 (minus $ 53 t.d.b.) in Singapore. Underestimation ratio rose significantly in Fujairah: by $ 4.
On June 11, MABUX DBP Index also registered the underpricing of MGO LS in all selected ports, ranging from minus $ 26 (minus $ 24 t.d.b.) in Houston to minus $ 49 (minus $ 49 t.d.b.) in Rotterdam, minus $62 (minus $54 t.d.b.) in Singapore and minus $ 67 (minus $ 59 t.d.b.) in Fujairah. According to DBP Index, the most significant change of underestimation level was registered in Singapore and Fujairah: an increase of $ 8 each.
We expect bunker prices may demonstrate slight irregular changes today: the price for 380 HSFO may increase by 1-3USD, the price for VLSFO may rise by 2-4 USD, MGO may change by plus/minus 1-3 USD.