MABUX: bunker indexes may continue to increase on July 12
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) continue to increase on July 09:
380 HSFO – USD/MT – 454.37 (+3.04)
VLSFO – USD/MT – 559.51 (+4.46)
MGO – USD/MT – 654.42 (+4.55)
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, increased on July 12 up to 791.40 USD/MT (+1.33 USD). The LNG Bunker Index exceeds the price of MGO LS at the Port of Rotterdam by $ 206.40 (585 USD/MT as of July 09). The price difference decreased (minus 15.67 USD compared to the previous day). More LNG Bunker Indexes on www.mabux.com.
As of July 09, 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 Houston (minus $ 21 the day before (t.d.b.)) and minus $ 27 (minus $ 30 t.d.b) in Fujairah to minus $ 31 (minus $ 33 t.d.b.) in Rotterdam and minus $ 46 (minus $ 45 t.d.b.) in Singapore. No significant changes were registered.
VLSFO, according to MABUX DBP Index, was also underestimated in all selected ports. The undercharging ranged from minus $ 15 in Houston (versus minus $ 11 t.d.b.) and minus $ 20 (minus $ 30 t.d.b.) in Rotterdam to minus $ 47 (minus $47 t.d.b.) in Fujairah and minus $ 45 (minus $ 43 t.d.b.) in Singapore. The change of underestimation level was registered in Rotterdam: the decrease of $ 10.
On July 09, MABUX DBP Index also registered the underpricing of MGO LS in all selected ports, ranging from minus $ 12 (minus $ 10 t.d.b.) in Houston to minus $ 42 (minus $ 52 t.d.b.) in Rotterdam, minus $58 (minus $55 t.d.b.) in Singapore and minus $ 48 (minus $ 54 t.d.b.) in Fujairah. The most significant change of underestimation level was registered in also Rotterdam (decrease of $ 10).
We expect bunker prices may continue to rise today. The price for 380 HSFO may rise by 6-8 USD, for VLSFO – by 8-10 USD. The price for MGO may increase by 10-15 USD.