MABUX: Global bunker indices to stay in the phase of the irregular changes on Oct.21
MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO) continued irregular fluctuations with no firm trend on Oct.21:
380 HSFO – USD/MT – 495.69 (+6.48)
VLSFO – USD/MT – 798.95 (+5.08)
MGO – USD/MT – 1 191.83 (-15.22)
As of October 20, the MABUX MBP/DBP Index (MDI) (comparison of market bunker prices and the MABUX digital bunker price benchmark) recorded minor changes in the HSFO segment, a slight increase of overpricing ratio in the VLSFO segment, and MGO LS undercharge in three ports at once.
According to MDI, 380 HSFO fuel remained undervalued on October 20 in all four selected ports. Undervaluation premium was registered as: Rotterdam – minus $147 (minus $141 the day before), Singapore – minus $176 (unchanged), Fujairah – minus $187 (minus $192), Houston – minus $77 (minus $81). The MDI remained marginal in this bunker fuel segment.
In the VLSFO segment, this fuel grade was overcharged on October 20 in three ports out of four selected. The only underestimated port remained Rotterdam – minus $9 (minus $7 the day before). In other ports, MDI registered the following overprice margins: Singapore plus $65 (plus $69), Fujairah plus $37 (plus $48) and Houston plus $13 (plus $29). Overcharge declined moderately, while undercharge slightly increased.
In the MGO LS segment, the MDI index registered an undercharge in three of the four selected ports at once: Houston joined Rotterdam and Singapore: minus $ 2 (plus 18 the day before), minus $ 61 (minus $ 71) and minus $ 70 (minus $ 110) respectively. Fujairah remained the only overvalued port in this segment of bunker fuel: plus $107 versus plus $52 a day earlier. The MDI index did not have any sustainable trend: the undercharge rose in Houston, but dropped in Rotterdam and Singapore. In Fujairah, MDI recorded an overcharge growth by 65 points at once.
We do not expect any firm trend in Global bunker market on Oct.21: 380 HSFO – plus-minus 0-5 USD/MT, VLSFO – plus-minus 0-5 USD/MT, MGO LS – minus 2-25 USD/MT.