MABUX: Bunker prices may demonstrate slight upward changes on Nov.23
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) decreased on Nov.22:
380 HSFO – USD/MT – 490.05 (-5.91)
VLSFO – USD/MT – 623.44 (-8.64)
MGO – USD/MT – 738.02 (-13.03)
As of Nov. 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 all four selected ports: in Rotterdam – minus $ 18 (minus $16 the day before), in Singapore – minus $9 (minus $10 the day before), in Fujairah – minus $5 (minus $9 the day before), in Houston – minus $5 (plus $4 the day before). The most significant changes on Nov.22 for 380 HSFO were registered in Houston where the overcharged level declined by $9 and the cost of this fuel grade became undercharged.
VLSFO, according to the MABUX MBP / DBP Index, was overcharged on Nov. 22 in three out of four selected ports. The overcharge ratio was registered in Rotterdam – plus $4 (minus $4 the day before), Singapore – plus $31 (plus $23 the day before), in Fujairah – by plus $28 (plus $18). In Houston this fuel grade was undercharged by minus $11 (plus $5 the day before). The changes in overcharged level varied from $8 (Rotterdam, Singapore) to $10 (Fujairah) on Nov.22. In Houston the overcharged level decline by $16 and the cost of VLSFO became undercharged.
MGO LS, according to the MABUX MBP / DBP Index, remained underestimated on Nov. 22 in two out of four selected ports: in Rotterdam – minus $ 33 (minus $39), minus $ 6 (minus $24) in Singapore. In Fujairah and Houston the MGO LS fuel grade was overcharged by plus $42 and plus $2 respectively (plus $ 17 and minus $1 the day before respectively). The most significant changes on Nov.22 for MGO LS were registered in Fujairah – the overcharge increased by $25.
We expect global bunker prices may demonstrate upward changes today: prices for 380 HSFO may increase by 2-4 USD/MT, prices for VLSFO may rise by 3-6 USD/MT, prices for MGO may add 8-12 USD/MT.