MABUX: Global bunker prices may continue upward trend on Oct.12
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) continued to rise on Oct.11:
380 HSFO – USD/MT – 531.0 (+5.55)
VLSFO – USD/MT – 626.11 (+11.98)
MGO – USD/MT – 749.9 (+16.10)
As of October 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 grade was overvalued in three out of four ports: in Rotterdam – plus $ 35 (plus $ 24 the day before), in Singapore – plus $ 56 (plus $44 the day before) and in Fujairah – plus $ 33 (plus $31 the day before). In Houston, the MABUX MBP / DBP Index continued register an underestimation of 380 HSFO fuel grade by minus $ 11 (minus $10 the day before). The most significant changes were registered in Rotterdam and Singapore (minus $11 and minus $12 respectively).
VLSFO, according to the MABUX MBP / DBP Index, was overcharges on October 11 in three out of four selected ports. The overcharge ratio was: in Singapore – plus $3 (minus $11 the day before), in Rotterdam – plus $ 7 (minus $3), in Houston – plus $ 7 (no changes). In Fujairah, VLSFO fuel grade was underpriced by $ 4 (minus $7 the day before). There most significant changes in VLSFO MBP/DBP index were registered in Singapore (plus $14).
MGO LS, according to the MABUX MBP / DBP Index, remained underestimated on October 11 in all selected ports except of Houston: in Rotterdam – minus $ 24 (minus $20 the day before), minus $ 23 (minus $ 29) in Singapore, minus $ 44 (minus $ 47) in Fujairah. In Houston this kind of fuel was overpriced by $ 1 (minus $ 2). The most significant change of MABUX MBP / DBP Index was registered in Singapore – the increase of $6 compared to the day before.
We expect global bunker prices may continue to increase today: the prices for 380 HSFO may increase by 5-7 USD/MT, VLSFO may rise by 7-9 USD/MT, MGO LS may add 7-10 USD/MT.