MABUX: bunker indexes may rise on June 21
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) declined on June 18:
380 HSFO – USD/MT – 444.75 (-4.65)
VLSFO – USD/MT – 546.95 (-5.90)
MGO – USD/MT – 642.86 (-5.76)
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, decreased on June 21 down to 620.12 USD/MT (-2.04 USD). The LNG Bunker Index exceeds the price of MGO LS at the Port of Rotterdam by $ 50.12 (570 USD/MT as of June 18). The price difference has increased (plus 10,96 USD compared to the previous day). More LNG Bunker Indexes on www.mabux.com.
As of June 18, 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 $ 21 in Fujairah (minus $ 18 the day before (t.d.b.)) to minus $ 45 (minus $ 29 t.d.b.) in Rotterdam and minus $ 51 (minus $ 51 t.d.b.) in Singapore. The most significant changes in 380 HSFO MBP/DBP Index were registered in Rotterdam: decrease of $ 16.
VLSFO, according to MABUX DBP Index, was also underestimated in all selected ports. The undercharging ranged from minus $ 19 in Houston (versus minus $ 17 t.d.b.) and minus $ 37 (minus $ 36 t.d.b.) in Rotterdam to minus $ 47 (minus $ 48 t.d.b.) in Fujairah and minus $ 46 (minus $ 50 t.d.b.) in Singapore. According to DBP Index there were no significant changes registered.
On June 18, MABUX DBP Index also registered the underpricing of MGO LS in all selected ports, ranging from minus $ 17 (minus $ 14 t.d.b.) in Houston to minus $ 54 (minus $ 55 t.d.b.) in Rotterdam, minus $59 (minus $63 t.d.b.) in Singapore and minus $ 61 (minus $ 63 t.d.b.) in Fujairah. The most significant change of underestimation level was registered in Singapore: decrease of $ 4.
We expect bunker prices may rise today: the price for 380 HSFO may increase by 1-3USD, the price for VLSFO may rise by 2-4 USD, MGO may increase by 2-5 USD.