MABUX: Global bunker indexes to head upwards on Oct.14
MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO) continued slight downward trend on Oct.13:
380 HSFO – USD/MT – 497.46 (-19.40)
VLSFO – USD/MT – 807.99 (-11.25)
MGO – USD/MT – 1 213.70 (-9.94)
As of October 13, the MABUX MBP/DBP Index (MDI) (comparison of market bunker prices and the digital bunker benchmark of MABUX prices) registered a slight growth of underestimation ratio in the HSFO segment, an underestimation’s reduction at Rotterdam in the VLSFO segment, and a sharp increase of overpricing in Fujairah and a sharp decline of undercharge margins at Rotterdam and Singapore in the MGO LS segment.
According to the MDI, 380 HSFO fuel grade remained undervalued on October 13 in all four selected ports. The underestimation margins were registered as: Rotterdam – minus $ 147 (minus $ 139 the day before), Singapore – minus $ 176 (minus $ 167), Fujairah – minus $ 186 (minus $ 180), Houston – minus $ 86 (minus $ 92). The underestimation premium rose in all selected ports except Houston.
In the VLSFO segment, this type of fuel was overpriced on October 13 in three of the four selected ports: Singapore – plus $ 83 (plus $ 66 a day earlier), Fujairah – plus $ 83 (plus $ 52) and Houston – plus $ 5 (plus $ 4). The only underestimated port remained Rotterdam – minus $18 (minus $21). Overcharge increased in all ports, while underpricing decreased.
In the MGO LS segment, the MDI index registered an overcharge in Fujairah and Houston by plus $92 (plus $2 the day before) and plus $30 (plus $21), respectively. In Rotterdam and Singapore, this fuel grade was undervalued by minus $72 (minus $159) and minus $78 (minus $181), respectively. Fujairah saw a sharp increase in fuel overpricing (plus $90), while Rotterdam and Singapore continued to see a sharp decline of underpricing ratio: minus $81 and minus $103, respectively.
We expect Global bunker indexes to rebound on Oct.14: 380 HSFO – plus 5-9 USD/MT, VLSFO – plus 8-15 USD/MT, MGO LS – plus 5-45 USD/MT.