MABUX: Bunker indices do not have sustainable trend on May 06
MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO in the main world hubs) resumed slight upward evolution as of May 05:
380 HSFO – USD/MT – 750.08 (+6.02)
VLSFO – USD/MT – 963.04 (+12.92)
MGO – USD/MT – 1 312.77 (+14.34)
The correlation of MABUX MBP Index (market bunker prices) vs MABUX DBP Index (digital bunker price benchmark MABUX) on May 05 returned to the overcharge area in all selected ports. In particular, the overprice margins for 380 HSFO fuel were registered as: Rotterdam – plus $27 (plus $47 the day before), Singapore – plus $141 (plus $156), Fujairah – plus $114 (plus $137) and Houston – plus $94 (plus $118). All ports saw a slight decline of MABUX MBP/DBP Index (MDI), with little change.
In the VLSFO segment, MDI index also registered an overpricing on May 05 in all four selected ports: Rotterdam – plus $53 (plus $90 a day earlier), Singapore – plus $48 (plus $72), Fujairah – plus 58 (plus $92) and Houston – plus $49 (plus $52). Here the overprice premium has also declined slightly.
In the MGO LS segment, the MDI index registered an overestimation of fuel in all ports on May 05, including Singapore (plus $ 10), where an undercharge by 15 points was recorded the day before. In other ports, the overcharge ratio was: Rotterdam – plus $102 (plus $105 the day before), in Fujairah – plus $105 (plus $84) and in Houston – plus $99 (plus $109).
Despite a slight decrease in overcharge premium for all types of fuel, it is still premature to talk about the formation of a downward sustainable trend, given the high volatility that still persists in the market.
We expect bunker prices do not have sustainable trend today and may change irregular: 380 HSFO – plus 1-4 USD / MT, VLSFO – plus 2-6 USD / MT, MGO LS – minus 3-35 USD/MT.