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MABUX: Bunker prices may demonstrate irregular changes on May 17

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) increased on May 16:

380 HSFO – USD/MT – 734.12 (+9.20)
VLSFO – USD/MT – 949.15 (+16.78)
MGO – USD/MT – 1274.08 (+13.83)

As of May 16, 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 $10 (plus $19 the day before), in Singapore – by plus $33 (plus $43 the day before), in Fujairah – by plus $29 (plus $52 the day before), in Houston by plus $67 (plus $81 the day before). MABUX MBP/DBP Index (MDI) for 380 HSFO fuel decreased for all selected ports. The most significant changes were registered in Fujairah where the overcharge level decreased by 23 points on May 16.

VLSFO, according to the MABUX MBP /DBP Index, was overcharged on May 16 in all selected ports. The overcharge ratio was registered in Rotterdam – plus $4 (plus $16 the day before), in Singapore by plus $33 (plus $41 the day before), in Fujairah – by plus $ 39 (plus $47 the day before), in Houston – plus $13 (plus $26 the day before). MDI for VLSFO also decreased for all ports. The most significant changes were registered in Rotterdam and Houston where the overcharge level declined by 12 and 13 points respectively on May 16.

MGO LS, according to the MABUX MBP /DBP Index, was overcharged in all selected ports on May 16: in Rotterdam – by plus $14 (plus $37 the day before), in Singapore by plus $45 (plus $60 the day before), in Fujairah – by plus $192 (plus $215 the day before), in Houston – by plus $114 (plus $131 the day before). MDI index for MGO also decreased in all selected ports. The most significant changes were registered in Rotterdam and Fujairah, where the overcharge level decreased by 23 points.

We expect global bunker prices may demonstrate irregular changes today. The price for 380HSFO may rise by 10-20 USD/MT, the price for VLSFO may increase by 15-25 USD/MT, the price for MGO may decline by 7-13 USD/MT.

Source: www.mabux.com

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