MABUX: Firm upward trend continues on global bunker market on Aug 26
The Bunker Review was contributed by Marine Bunker Exchange (MABUX)
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) continued upward evolution on Aug.25:
380 HSFO - USD/MT – 447.22 (+6.11)
VLSFO - USD/MT – 541.19(+8.63)
MGO - USD/MT – 637.27 (+5.96)
The MABUX ARA LNG Bunker Index, calculated as the average price of LNG as a marine fuel in the ARA region, dropped significantly on August 26: 934.89 USD/MT (minus 45.16 USD). The LNG Bunker Index exceeds the cost of MGO LS in the port of Rotterdam by USD 374.89 (560 USD/MT as of 25 August), the difference in price compared to the day before decreased by USD 55.16. LNG bunker indices are available at www.mabux.com.
As of August 25, 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 remained overvalued in Singapore: plus $ 21 (plus $ 25 the day before) and Fujairah: plus $ 2 (unchanged) and was underpriced in Rotterdam: minus $ 1 (plus $ 2), and Houston: minus $ 8 (minus $ 12).
VLSFO, according to the MABUX MBP / DBP Index, was overpriced on August 25 in Singapore: plus $ 8 (plus $ 11 the day before). At the same time, the VLSFO’s underestimation was registered in Rotterdam: minus $ 4 (plus $ 6), in Fujairah: minus $ 34 (minus $ 27) and in Houston: minus $ 8 (minus $ 6).
The MABUX MBP/DBP Index registered the underpricing of MGO LS in all selected ports on August 25. Underestimation margin was: in Rotterdam - minus $ 26 (minus $ 21), minus $ 33 (minus $ 26) in Singapore, minus $ 58 (minus $ 46) in Fujairah and minus $ 30 (plus $ 24) in Houston. The MGO LS’s underestimation ratio in all ports has started to rise again.
We expect global bunker prices to continue upward trend today: 380 HSFO – plus 3-5 USD/MT, VLSFO – plus 5-8 USD/MT, MGO LS – plus 5-15 USD/MT.
Source: www.mabux.com