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MABUX: Global bunker prices may turn into downward trend on Oct.07

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.06:

380 HSFO – USD/MT – 522.50 (+7.00)
VLSFO – USD/MT – 614.17 (+9.52)
MGO – USD/MT – 736.98 (+10.98)

The MABUX ARA LNG Bunker Index – the average price of LNG as a marine fuel in the ARA region – continued a slight growth on October 7: 1033.93 USD / MT (minus 5.38 USD). The MABUX LNG Bunker Index exceeds the cost of MGO LS in the port of Rotterdam by USD 355.93 (USD 678 USD/ MT as of October 06), the difference in price compared to the day before has decreased by USD 10.38. LNG bunker indices are available at www.mabux.com.

As of October 06, 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 $ 4 (no changes from the day before), in Singapore – plus $ 39 (plus $42 the day before) and in Fujairah – plus $ 25 (no changes). In Houston, the MABUX MBP / DBP Index continued register an underestimation of 380 HSFO fuel grade by minus $ 18 (No changes).

VLSFO, according to the MABUX MBP / DBP Index, was underestimated on October 05 in three out of four selected ports. The undercharge ratio was: in Singapore – minus $ 24 (minus $19 the day before), in Fujairah – minus $ 25 (minus $18), in Rotterdam – minus $ 5 (no changes). In Houston, VLSFO fuel grade was overpriced by $ 1 (minus $6 the day before). There most significant changes in VLSFO MBP/DBP index were registered in Fujairah ( minus $7) and Houston ( plus $7).

MGO LS, according to the MABUX MBP / DBP Index, remained underestimated on October 06 in all selected ports: in Rotterdam – minus $ 53 (minus $43 the day before), minus $ 45 (minus $ 26) in Singapore, minus $ 73 (minus $ 61) in Fujairah and minus $ 14 (minus $ 22) in Houston. The most significant change of MABUX MBP / DBP Index was registered in Fujairah – the decrease of $12 compared to the day before.

We expect global bunker prices to decrease today: the prices for 380 HSFO may decline by 6-8 USD/MT, VLSFO may fall by 8 – 10 USD/MT, MGO LS may decrease by 12-15 USD/MT.

Source: www.mabux.com

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