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MABUX: Bunker prices may decline on Jun. 23

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 Jun. 22:

380 HSFO – USD/MT – 735.46 (-3.35)
VLSFO – USD/MT – 1063.02 (-2.62)
MGO – USD/MT – 1409.27 (+10.76)

As of Jun. 22, 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 three out of four selected ports: Rotterdam – by minus $67 (minus $47 the day before), in Singapore – by minus $100 (minus $80 the day before) and in Fujairah – by minus $32 (minus $33 the day before) This fuel grade remained overcharged in Houston by plus $43 (plus $43 the day before). MABUX MBP/DBP Index (MDI) for 380 HSFO fuel decreased in the most of selected ports. The most significant changes were registered in Rotterdam and Singapore, where the undercharged level increased by 20 points Jun. 22.

VLSFO, according to the MABUX MBP /DBP Index, was overcharged on Jun. 22 in all selected ports. The overcharge ratio was registered in Rotterdam – plus $55 (plus $66 the day before), in Singapore by plus $209 (plus $204 the day before), in Fujairah – by plus $242 (plus $252 the day before), in Houston – plus $79 (plus $80 the day before). MDI for VLSFO decreased in the most of selected ports. The most significant changes were registered in Rotterdam and Fujairah where the overcharge level declined by 11 and 10 points respectively on Jun. 22.

MGO LS, according to the MABUX MBP /DBP Index, was overvalued in three out of selected ports on Jun. 22: in Singapore by plus $14 (plus $23the day before), in Fujairah – by plus $107 (plus $132 the day before), in Houston – by plus $47 (plus $21 the day before) This fuel grade remained undervalued in Rotterdam – by minus $21 (minus $3 the day before). MDI index for MGO decreased in the most of selected ports. The most significant changes were registered in Fujairah (the overcharge level declined by 25 points) and in Houston (the overcharge level increased by 26 points).

We expect global bunker prices may decrease today. The price for 380 HSFO may decline by 10-17 USD/MT, VLSFO may decline by 20-27 USD/MT, the price for MGO may decrease 15-30 USD/MT.

Source: mabux.com

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