2021 June 23 09:27
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) demonstrated slight upward evolution on June 22:
380 HSFO - USD/MT – 452.38 (+4.06)
VLSFO - USD/MT – 555.86 (+5.34)
MGO - USD/MT – 646.77 (+5.31)
The MABUX ARA LNG Bunker Index - the average price of LNG as a marine fuel in the ARA region, increased slightly on June 23: 619.91 USD / MT (+0.15 USD). LNG Bunker Index exceeds the cost of MGO LS in the Port of Rotterdam by 37.91 USD (582 USD / MT as of June 22), the difference in price compared to the previous day has reduced by $ 5. More LNG Bunkering Indexes on www.mabux.com.
As of June 22, 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 $ 33 per Houston (minus $ 28 the day before) to minus $ 42 (unchanged) in Rotterdam and minus $ 49 (minus $ 48) in Singapore. The most significant change in the MBP / DBP Index for 380 HSFO fuel was recorded in Houston (undercharge ratio up by $ 5).
VLSFO, according to the MABUX DBP Index, was also underestimated in all selected ports on June 22 ranging from minus $ 26 in Houston (minus $ 20 the day before) and minus $ 39 (minus $ 34) in Rotterdam to minus $ 47 (minus $ 48) in Fujairah and minus $ 55 (minus $ 51) in Singapore. The most significant changes in VLSFO’s MBP/DBP Index were recorded in Houston (undercharge margin up by $ 6) and Rotterdam (up by $ 5).
On June 22, MABUX DBP Index also registered the underpricing of MGO LS in all selected ports ranging from minus $ 23 (minus $ 24 a day earlier) in Houston to minus $ 47 (minus $ 49) in Rotterdam, minus $ 59 (minus $ 60) in Singapore and minus $ 59 (no change) in Fujairah. According to MBP / DBP Index, underestimation ratio decreased slightly.
We expect global bunker prices not to have any firm trend today: 380 HSFO may drop by 0-4 USD/MT, VLSFO may decrease by 0-6 USD/MT, MGO LS may add 4-7 USD/MT.