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MABUX: Bunker prices may continue downward changes on Apr.01

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) demonstrated slight irregular changes on Mar.31:

380 HSFO – USD/MT – 726.51 (+0.26)
VLSFO – USD/MT – 946.68 (+3.62)
MGO – USD/MT – 1156.21 (-2.37)  

As of Mar.31, 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 overvalued in all selected ports: Rotterdam – by plus $31 (plus $74 the day before), in Singapore – by plus $14 (plus $35 the day before), in Fujairah – by plus $18 (plus $49 the day before), in Houston by plus $77 (plus 854 the day before). The most significant changes were registered Rotterdam – the overcharge level decreased by 43 points, on Mar.31.

VLSFO, according to the MABUX MBP /DBP Index, was overcharged on Mar. 31 in all selected ports. The overcharge ratio was registered in Rotterdam – plus $61 (plus $102 the day before), in Singapore by plus $14 (plus $44 the day before), in Fujairah – by plus $46 (plus $71 the day before), in Houston – plus $83 (plus $116 the day before). The most significant changes were also registered in Rotterdam where the overcharge level decreased by 41 points on Mar.31.

MGO LS, according to the MABUX MBP /DBP Index, was overcharged in three out of four selected ports on Mar.31: in Rotterdam – by plus $3 (plus $48 the day before), in Fujairah – by plus $65 (plus $117 the day before), in Houston – by plus $80 (plus $114 the day before). In Singapore this fuel grade remained undervalued – by minus $28 (minus $3 the day before). The most significant changes were registered in Fujairah -the overcharge level declined by 52 points.

We expect global bunker prices may continue to downward changes. The price for 380HSFO may decrease by15-25 USD/MT, VLSFO may decline by 20-30 USD/MT, the price for MGO may fall by 20-35 USD/MT.
Source: www.mabux.com

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