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MABUX: Global bunker indices to turn upward on Sep.12

MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO in the main world hubs) did not have a firm trend and changed irregular on Sep.09:

380 HSFO – USD/MT – 530.04 (+4.31)
VLSFO – USD/MT – 794.42 (+0.23)
MGO – USD/MT – 1 181.24 (-5.96)

As of September 09, 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 moderate decrease in overcharge premium in the VLSFO segment, and no any single trend in the MGO LS segment.

As per MDI, 380 HSFO fuel was underpriced on September 09 in all four selected ports. The undercharge margins were registered as: Rotterdam – minus $100 (minus $106 the day before), Singapore – minus $139 (minus $135), Fujairah – minus $124 (minus $127), Houston – minus $22 (minus $17). MDI index had minor changes in this fuel segment.

In the VLSFO segment, all ports were overvalued on September 09: Rotterdam – plus $ 27 versus plus $ 45 the day before, Singapore – plus $ 37 (plus $ 38), Fujairah – plus $ 64 (plus $ 80) and Houston – plus $ 50 (plus $53). Overcharge premium has declined moderately in all selected ports.

In the MGO LS segment, the Rotterdam-Singapore pair was still undervalued by minus $57 (minus $71 the day before) and minus $80 (minus $104) respectively, while the Fujairah-Houston pair was overvalued by plus $153 (plus $137) and plus $25 (plus $3). The underpricing in the MGO LS segment slightly decreased, while the overpricing reversed upwards. There were minor changes registered by the MDI index.`

We expect global bunker indices to show firm upward evolution on Sep.12: 380 HSFO – plus 9-18 USD/MT, VLSFO – plus 10-22 USD/MT, MGO LS – plus 5-12 USD/MT.

Source: Mabux.com

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