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MABUX: Global bunker prices to continue firm downward trend on August 17

MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO in the main world hubs) continued firm downward movement on Aug. 16:

380 HSFO – USD/MT – 596.48 (-12.31)

VLSFO – USD/MT – 835.56 (-15.27)

MGO – USD/MT – 1 138.43 (-9.34)

As of August 16, MABUX MBP/DBP Index (MDI) (a comparison of market bunker prices vs. MABUX digital bunker price benchmark) showed a decrease of underpricing and overpricing ratio in the HSFO segment, no firm overprice dynamics in the VLSFO segment and the return of the Port of Houston to the undercharge zone in the MGO LS bunker fuel segment.

380 HSFO fuel grade, according to MDI, remained undervalued on August 16 in three ports out of four selected: Houston is still the only overpriced bunker hub: plus $20 versus plus $43 the day before. In other ports, the underestimation premium was: Rotterdam – minus $28 (vs. minus $39 a day earlier), Singapore – minus $49 (minus $68) and Fujairah – minus $75 (minus $89). Underestimation ratio as well as overestimation one has decreased.

In the VLSFO fuel grade segment, all four selected ports, according to the MDI index, stayed in the overcharge zone on August 16: Rotterdam – plus $ 48 (plus $ 37 the day before), Singapore – plus $ 53 (plus $ 56), Fujairah – plus $ 134 (plus $112) and Houston plus $48 (plus $31). The MDI index had no firm trend in the VLSFO segment: the overpricing decreased in Singapore but rose in the other three ports.

In the MGO LS segment, Houston returned to the overprice zone on August 16: plus $ 2 versus minus $ 32 a day earlier. The port of Fujairah also remained overvalued – plus $ 216 (plus $ 197). In Rotterdam and Singapore, the MDI registered fuel underpricing by minus $27 (minus $40) and minus $61 (minus $84), respectively.

We expect Global bunker prices to continue firm downward movement on August 17: 380 HSFO – minus 8-15 USD/MT, VLSFO – minus 10-18 USD/MT, MGO LS – minus 0-8 USD/MT.

Source: mabux.com

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