MABUX: Global bunker prices do not have any firm trend and may change irregular on Aug.12
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) returned to upward evolution on Aug.11:
380 HSFO – USD/MT – 444.79 (+4.39)
VLSFO – USD/MT – 546.39 (+4.40)
MGO – USD/MT – 636.21 (+6.27)
The MABUX ARA LNG Bunker Index, calculated as the average price of LNG as a marine fuel in the ARA region, continued slight downward movement on August 12: 915.88 USD/MT (minus 0.31 USD). The LNG Bunker Index exceeds the cost of MGO LS in the port of Rotterdam by 352.88 USD (563 USD/MT as of August 11), the difference in price compared to the day before has decreased by 8.31 USD. LNG bunker indices are available at www.mabux.com.
As of August 11, 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 fuel remained undervalued in all selected ports, except for Fujairah, where this type of fuel was overvalued (plus $ 15 versus plus $ 29 the day before). The underestimation in other ports was minus $ 11 in Houston (unchanged), minus $ 30 (minus $ 26) in Rotterdam and minus $ 37 (minus $ 32) in Singapore.
VLSFO, according to the MABUX MBP/DBP Index, was underestimated in all selected ports on August 11. The VLSFO underpricing was minus $ 10 in Houston (minus $ 2 the day before), minus $ 32 (minus $ 16) in Fujairah, minus $ 35 (minus $ 26) in Singapore and minus $ 21 (minus $ 17) in Rotterdam. Underestimation margins for this type of fuel, according to the MBP/DBP Index, have increased in all ports. The most significant change was registered in Fujairah (plus $ 16) and Rotterdam (plus $ 9).
MABUX MBP/DBP Index also registered the underpricing of MGO LS at all selected ports on August 11: in Houston – minus $ 20 (minus $ 13 the day before), in Rotterdam – minus $ 57 (minus $ 47), minus $ 75 (minus $ 62) in Singapore and minus $ 55 (minus $ 42) in Fujairah. The underestimation ratio has increased in all ports. The most significant change was registered in Singapore (plus $ 13) and Fujairah (plus $ 13).
We expect global bunker prices do not have any firm trend today and may change irregular: 380 HSFO – plus 3-5 USD/MT, VLSFO – plus 4-7 USD/MT, MGO LS – plus-minus 2-6 USD/MT.