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MABUX: Bunker price may continue to rise on Jan.13

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) rose on Jan.12:

380 HSFO – USD/MT – 525.17 (+11.53)
VLSFO – USD/MT – 662.95 (+15.84)
MGO – USD/MT – 787.30 (+17.41)

As of Jan.12, 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 grade was undervalued in two out of four selected ports: in Singapore – by minus $14 (minus $10 the day before) and Fujairah – by minus $1 (plus $6 the day before). In Houston this fuel grade was overcharged by plus $11 (plus $20 the day before), in Rotterdam DBP Index 100% correlates to MBP Index (plus $5 the day before). The most significant changes were registered in Houston where the overcharge level decreased by $9 on Jan.12.

VLSFO, according to the MABUX MBP / DBP Index, was overcharged on Jan. 12 in three out of four selected ports. The overcharge ratio was registered in Rotterdam – plus $5 (plus $12 the day before), Singapore – plus $54 (plus $59 the day before), in Fujairah – by plus $44 (plus $49 the day before). In Houston this fuel grade was undercharged by minus $2 (plus $8 the day before). The most significant changes were registered in Houston where the overcharge level decreased by $10 and VLSFO became undercharged on Jan.12.

MGO LS, according to the MABUX MBP /DBP Index, was undercharged in two out of four selected ports on Jan.12: in Rotterdam – minus $ 27 (minus $32 the day before), in Singapore – minus $ 23 (minus $25 the day before). In Fujairah this fuel grade remained overcharged by plus $18 (plus $13 the day before). In Houston DBP Index 100% correlates to MBP Index (plus $2 the day before). The most significant changes were registered in Rotterdam (the decrease of undercharge level by $5) and Fujairah (the overcharge level increased by $5).

We expect global bunker prices may demonstrate upward changes today. The price for 380HSFO may increase by 3-6 USD/MT, VLSFO may rise by 5-8 USD/MT, MGO may add 7-10 USD/MT.

Source: www.mabux.com

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