2021 May 28 10:08
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) slipped down on May 27:
380 HSFO: USD/MT – 423.93 (-0.25)
VLSFO: USD/MT – 522.20 (-2.30)
MGO: USD/MT – 617.17 (-1.81)
MABUX ARA LNG Bunker Index - the average price of LNG as a marine fuel in the ARA region, fell by 1.52 USD on May 28 and showed 599.17 USD/MT. The LNG Bunker Index exceeds the price of MGO LS at the Port of Rotterdam by $ 60.17 (539 USD/MT as of May 26). More LNG Bunker Indexes on www.mabux.com.
As of May 27, 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 undervalued in all selected ports: from minus $ 13 in Houston (minus $ 14 a day earlier) to minus $ 37 (minus $ 43) in Rotterdam and minus $ 57 (unchanged) in Singapore. The most significant change of underepricing ratio was recorded in Rotterdam: a drop by $ 6.
VLSFO, according to MABUX DBP Index, was also underestimated on May 27 in all selected ports with no exception for the third day in a row, ranging from minus $ 1 (minus $ 3 the day before) in Houston to minus $ 22 (minus $ 27) in Rotterdam, minus $ 39 (minus $ 45) in Fujairah and minus $ 51 (minus $ 53) in Singapore. There has been a slight decrease of underestimation margins of this fuel in all selected ports.
On May 27, MABUX DBP Index also registered the undercharging of MGO LS in all selected ports, ranging from minus $ 21 (minus $ 27 the day before) in Houston to minus $ 52 (minus $ 43) in Rotterdam, minus $ 48 (unchanged) in Singapore and minus $ 54 (minus $ 52) in Fujairah. The most significant change of underepricing ratio was recorded in Rotterdam: an increase by $ 9.
We expect global bunker prices may continue slight upward trend: 380 HSFO may up by 2-4 USD/MT, VLSFO – by 3-5 USD/MT, MGO LS – by 1-3 USD/MT.