MABUX: Global bunker prices to continue slight upward trend on Sep.14
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) edged upwards on Sep.13:
380 HSFO – USD/MT – 464.44 (+5.31)
VLSFO – USD/MT – 558.69 (+5.38)
MGO – USD/MT – 653.39 (+2.83)
The MABUX ARA LNG Bunker Index, calculated as the average price of LNG as a marine fuel in the ARA region, turned into a moderate decline on September 14: 1055.25 USD / MT (minus 5.47 USD). The MABUX LNG Bunker Index exceeds the cost of MGO LS in the port of Rotterdam by 468.25 USD (587 USD / MT as of September 13), the difference in price compared to the day before fell by 16.47 USD. LNG bunker indices are available at www.mabux.com.
As of September 13, 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 and VLSFO fuel grades were overvalued in all selected ports.
On September 13, the MABUX MBP / DBP Index recorded the following overcharge margins for 380 HSFO fuel: in Rotterdam – plus $ 2 (plus $ 5 the day before), in Singapore – plus $ 50 (plus $ 53), in Fujairah – plus $ 31 (plus $ 38) and in Houston – plus $ 3 (plus $ 11). The most significant Index change was registered in Houston – $ 8 down.
VLSFO, according to the MABUX MBP / DBP Index, was overpriced on September 13 in Rotterdam – plus $ 8 (no change), in Singapore – plus $ 16 (plus $ 22 the day before), in Fujairah – plus $ 14 (plus $ 24) and in Houston – plus $ 15 (minus $ 12). All ports except Rotterdam are experiencing decline of overcharge ratio.
As per MABUX MBP / DBP Index, MGO LS remained the only fuel that was underestimated on 13 September in all selected ports. Underestimation levels for MGO LS were registered as: in Rotterdam – minus $ 27 (minus $ 31 the day before), minus $ 29 (minus $ 32) in Singapore, minus $ 25 (minus $ 23) in Fujairah and minus $ 3 (minus $ 5) in Houston.
We expect global bunker prices to continue rising today: 380 HSFO – plus 2-4 USD/MT, VLSFO – plus 3-5 USD/MT, MGO LS – plus 2-5 USD/MT.