MABUX: Global bunker prices may rise slightly on Aug.02
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs have returned into slight upward trend on Jul.30:
380 HSFO – USD/MT – 460.52 (+2.96)
VLSFO – USD/MT – 563.36 (+2.53)
MGO – USD/MT – 657.17 (+3.27)
The MABUX ARA LNG Bunker Index, calculated as the average price of LNG as a marine fuel in the ARA region, also rose slightly on August 02: 793.61 USD/MT (+1.20 USD). The LNG Bunker Index exceeds the cost of MGO LS at the Port of Rotterdam by 200.61 USD (593 USD/MT as of July 30), the difference in price compared to the day before increased by $ 1.80 and still exceeds the $ 200 mark. LNG Bunker Indices available at www.mabux.com.
As of July 30, 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: minus $ 19 in Houston (minus $ 17 the day before), minus $ 27 (minus $ 19) in Fujairah, minus $ 36 (minus $ 29) in Rotterdam and minus $ 50 (minus $ 47) in Singapore. In all ports, there is registered an increase of 380 HSFO underestimation margins. The most significant growth was recorded in Fujairah (plus $ 8) and Rotterdam (plus $ 7).
VLSFO, according to the MABUX DBP Index, was also underestimated in all selected ports on 30 July. The underpricing ratio was minus $ 19 in Houston (minus $ 15 the day before), minus $ 47 (minus $ 37) in Fujairah, minus $ 46 (minus $ 39) in Singapore and minus $ 32 (minus $ 22) in Rotterdam. In Fujairah and Rotterdam, undervaluation margins rose by $ 10 – the most significant increase.
On July 30, MABUX DBP Index also registered the underpricing of MGO LS at all selected ports: in Houston – minus $ 29 (minus $ 26 the day before), in Rotterdam – minus $ 55 (minus $ 50), minus $ 77 (minus $ 73) in Singapore and minus $ 68 (minus $ 60) in Fujairah. The most significant change of MABUX MBP/DBP Index was recorded in Fujairah (up $ 8).
We expect global bunker prices may rise slightly today: 380 HSFO: plus 1-2 USD/MT, VLSFO – plus 1-3 USD/MT, MGO LS – plus 2-4 USD/MT.