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MABUX: Global bunker prices to continue sharp fluctuations while upward trend continues on March 08

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) rose sharply and showed record values on March 07:

380 HSFO – USD/MT – 752.75 (+77.64)
VLSFO – USD/MT – 1 007.69 (+116.25)
MGO – USD/MT – 1 176.13 (+130.11)

Amid sharply increased volatility, the correlation of MABUX MBP Index (market bunker prices) vs MABUX DBP Index (MABUX digital bunker price benchmark) on March 07 showed that 380 HSFO fuel returned into the overcharge zone at all selected ports: Rotterdam – plus $ 31 (minus $ 5 the day before), Singapore – plus $15 (minus $36), Fujairah – plus $1 (minus $23) and Houston – plus $54 (plus $16). The most significant change was recorded in Singapore – an overprice increased by 51 points.

In the VLSFO segment, the MABUX MBP/DBP Index also registered an overcharge on March 07 in all four selected ports. The overcharge margins were: Rotterdam – plus $52 (vs. plus $20 a day earlier), Singapore – plus $62 (plus $48), Fujairah – plus $93 (plus $96) and Houston – plus $40 (minus $7). Overcharge ratio at all ports remains at a high level.

MGO LS, according to the MABUX MBP/DBP Index, remained undervalued on March 07 in three out of four ports selected: Rotterdam moved over the overcharge zone: plus $29 versus minus $47 a day earlier. In all other ports, the underestimation ratio was: Singapore – minus $115 (minus $76), Fujairah – minus $135 (minus $87) and Houston – minus $47 (minus $9). There is no single index trend in the MGO LS segment so far.

We expect global bunker prices to continue sharp fluctuations while upward trend continues: 380 HSFO – plus 10–20 USD/MT, VLSFO – plus 15-25 USD/MT, MGO LS – plus 35-90 USD/MT.
Source: mabux.com

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