MABUX: Global bunker market may turn into slight upward evolution on Sep.13
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) fell slightly on Sep.10:
380 HSFO – USD/MT – 459.13 (-1.79)
VLSFO – USD/MT – 553.31 (-2.86)
MGO – USD/MT – 650.56 (-1.54)
The MABUX ARA LNG Bunker Index, calculated as the average price of LNG as a marine fuel in the ARA region, showed a slight growth on September 13: 1060.72 USD / MT (plus 0.27 USD). The MABUX LNG Bunker Index exceeds the cost of MGO LS in the port of Rotterdam by USD 484.72 (USD 578 / MT as of September 10), the difference in price compared to the day before rose by USD 8.27. LNG bunker indices are available at www.mabux.com.
As of September 10, 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 and VLSFO fuel grades were overvalued in all selected ports.
MABUX MBP / DBP Index registered the following overpricing for 380 HSFO fuel on September 10: in Rotterdam – plus $ 5 (plus $ 3 the day before), in Singapore – plus $ 53 (plus $ 43), in Fujairah – plus $ 38 (plus $ 30) and in Houston – plus $ 11 (plus $ 10). The Index’s most significant change was registered in Singapore: the overcharge rose by $ 10.
VLSFO, according to the MABUX MBP / DBP Index, was overpriced on September 10 in Rotterdam – plus $ 8 (minus $ 6 the day before), in Singapore – plus $ 22 (plus $ 19), in Fujairah – plus $ 24 (plus $ 19) and in Houston – plus $ 12 (minus $ 8). VLSFO overcharge ratio did not show any significant changes.
MGO LS remained the only fuel that was underestimated on 10 September in all selected ports according to the MABUX MBP / DBP Index. The underestimation margins were registered as: in Rotterdam – minus $ 31 (minus $ 24 the day before), minus $ 32 (minus $ 29) in Singapore, minus $ 23 (minus $ 20) in Fujairah and 100-percent correlation of MABUX MBP / DBP Index in Houston (minus $ 5 the day before).
We expect global bunker prices may rise today: 380 HSFO – plus 6-9 USD/MT, VLSFO – plus 8-12 USD/MT, MGO LS – plus 4-10 USD/MT.