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MABUX: Global bunker market does not have any firm trend amid high volatility on March 07.

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) did not have the firm trend and changed irregular on Mar. 04:

380 HSFO – USD/MT – 675.11 (-0.22)
VLSFO – USD/MT – 891.44 (+2.37)
MGO – USD/MT – 1 046.02 (+11.33)

The bunker market is still extremely unstable. The correlation of MABUX MBP Index (market bunker prices) vs MABUX DBP Index (MABUX digital bunker price benchmark) on March 04 showed that 380 HSFO fuel grade was undervalued in three out of four selected ports: Rotterdam – minus $ 5 (minus $ 13 the day before), Singapore – minus $36 (minus $42) and Fujairah – minus $23 (minus $26). Houston has returned to the overcharge zone again – plus $16 (minus $9).

In the VLSFO segment, the MABUX MBP/DBP Index registered an overpricing on March 04 in all four selected ports (a day earlier, Rotterdam and Houston showed an underpricing of VLSFO). As a result, the overcharge margins were registered as: Rotterdam – plus $ 20 (versus minus $ 8 the day before), Singapore – plus $ 48 (plus $ 35), Fujairah – plus $ 96 (plus $ 90) and Houston – plus $ 7 (minus $ 31). The most significant change was recorded in Houston – 38 points.

MGO LS, according to MABUX MBP/DBP Index, remained undervalued on March 04 in all selected ports: Rotterdam – minus $47 (minus $5), Singapore – minus $76 (minus $64), Fujairah – minus $87 (minus $37) and Houston – minus $9 (minus $36). All ports, with the exception of Houston, have seen significant growth of underprice levels.

We expect global bunker prices to continue rising on March 07 while the escalation of the military conflict in Ukraine continues: 380 HSFO – plus 25–45 USD/MT, VLSFO – plus 30-50 USD/MT, MGO LS – plus 30-50 USD/MT.


Source: mabux.com

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