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MABUX: Bunker prices may continue irregular changes on May 03

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) demonstrated irregular changes on May.02:

380 HSFO – USD/MT – 742.12 (-1.33)
VLSFO – USD/MT – 942.96 (+0.12)
MGO – USD/MT – 1292.65 (+16.35)

As of May.03, 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 $9 (plus $24 the day before), in Singapore – by plus $115 (plus $151 the day before), in Fujairah – by plus $86 (plus $92 the day before), in Houston by plus $95 (plus $92 the day before). MABUX MBP/DBP Index (MDI) for 380 HSFO fuel declined for all ports. The most significant changes were registered in Singapore- the overcharge level declined by 36 points on May.03.

VLSFO, according to the MABUX MBP /DBP Index, was overcharged on May.03 in all selected ports. The overcharge ratio was registered in Rotterdam – plus $56 (plus $84 the day before), in Singapore by plus $31 (plus $51 the day before), in Fujairah – by plus $34 (plus $58 the day before), in Houston – plus $51 (plus $54 the day before). MABUX MBP/DBP Index (MDI) for VLSFO also declined. The most significant changes were registered in Rotterdam and Fujairah where the overcharge level decreased by 28 points and 24 points respectively on May.03.

MGO LS, according to the MABUX MBP /DBP Index, was overcharged in three out of four selected ports on May.03: in Rotterdam – by plus $67 (plus $114 the day before), in Fujairah – by plus $30 (plus $78 the day before), in Houston – by plus $173 (minus $160 the day before). This fuel grade remained undervalued in Singapore by minus $72 (minus $21 the day before). There was no single trend for MDI index. The most significant changes were registered in Houston (the undercharge level sharply decreased by 333 points and this fuel grade became overcharged) and Singapore (the undercharge level increased by 51 points).

We expect global bunker prices change irregular. The price for 380HSFO may change within plus/minus 4-7 USD/MT, and VLSFO may change within plus/minus 5-13 USD/MT, the price for MGO may increase by 20-30 USD/MT.

Source: www.mabux.com

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