MABUX: Sharp irregular fluctuations may prevail in the global bunker market on Apr.13
MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO in the main world hubs) did not have any firm trend and changed irregular on Apr.12:
380 HSFO – USD/MT – 698.77 (-4.23)
VLSFO – USD/MT – 917.48 (+7.40)
MGO – USD/MT – 1 135.43 (+19.48)
The correlation of MABUX MBP Index (market bunker prices) vs MABUX DBP Index (digital bunker price benchmark MABUX) on April 12 remained in the overcharge zone for all types of fuel in selected ports. In particular, 380 HSFO fuel grade was overpriced as: Rotterdam – plus $ 83 (plus $ 43 a day earlier), Singapore – plus $ 119 (plus $ 86), Fujairah – plus $ 118 (plus $ 87) and Houston – plus $ 110 (plus $91). The 380 HSFO’s overcharge ratio continued to grow, the most significant change was registered in Rotterdam – plus 40 points.
In the VLSFO segment, MABUX MBP/DBP Index on April 12 also registered an overpricing in all four selected ports, and margins also increased: Rotterdam – plus $ 136 (versus plus $ 93 a day earlier), Singapore – plus $ 99 (plus $ 58) , Fujairah – plus 101 (plus $75) and Houston – plus $148 (plus $124). The most significant growth was registered in the ports of Rotterdam and Singapore – plus 43 and plus 41 points, respectively.
MGO LS, according to MABUX MBP/DBP Index, was also in the overcharge zone on April 12 in all ports: Rotterdam – plus $ 119 (plus $ 38 a day earlier), Singapore – plus $ 7 (plus $ 35), Fujairah – plus $ 104 (plus $129) and Houston – plus $174 (plus $161). In the MGO LS segment, the MABUX MBP/DBP Index still had no single trend: in Singapore and Fujairah, overcharge margins decreased slightly, while in Rotterdam and Houston, on the contrary, they rose. The most significant change was the overprice growth in Rotterdam by 81 points at once.
We expect bunker fuel prices to show sharp irregular fluctuations today: 380 HSFO – plus 15-40 USD / MT, VLSFO – plus 20-45 USD / MT, MGO LS – plus-minus 10-40 USD/MT.