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MABUX: Bunker prices may continue upward trend on May 31

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) continued upward changes on May 27:

380 HSFO – USD/MT – 751.63 (+6.84)
VLSFO – USD/MT – 1023.99 (+17.86)
MGO – USD/MT – 1274.06 (+18.69)

As of May 30, 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 two out of four selected ports: Rotterdam – by plus $12 (plus $25 the day before) and in Houston by plus $32 (plus $42 the day before). This fuel grade remained undercharged in Singapore – by minus $85( minus $23 the day before) in Fujairah – by minus $2 (plus $1 the day before). MABUX MBP/DBP Index (MDI) for 380 HSFO fuel decreased in all selected ports. The most significant changes were registered in Singapore where the undercharge level increased by 62 points on May 30.

VLSFO, according to the MABUX MBP /DBP Index, was overcharged on May 30 in all selected ports. The overcharge ratio was registered in Rotterdam – plus $4 (plus $19 the day before), in Singapore by plus $190 (plus $152 the day before), in Fujairah – by plus $83 (plus $96 the day before), in Houston – plus $40 (no changes). MDI for VLSFO declined in two out of four selected ports. The most significant changes were registered in Singapore where the overcharge level increased by 38 points on May 30.

MGO LS, according to the MABUX MBP /DBP Index, was overcharged in three out of four selected ports on May 30: in Rotterdam – by plus $7 (minus $4 the day before), in Singapore by plus $18 (minus $26 the day before), in Fujairah – by plus $181 (plus $178 the day before). This fuel grade was undercharged in Houston – by minus $3 (plus $2 the day before). MDI index for MGO increased in the most of selected ports. The most significant changes were also registered in Singapore where the undercharge level declined by 44 points and this fuel grade became overcharged.

We expect global bunker prices may continue to rise today. The price for 380HSFO may increase by 9-12 USD/MT, the price for VLSFO may rise by 10-15 USD/MT, the price for MGO may increase by 15-20 USD/MT.

Source: www.mabux.com

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