MABUX: Global bunker prices may slightly down on Sep 06
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) turned into slight upward evolution on Sep 03:
380 HSFO - USD/MT – 459.32 (+3.77)
VLSFO - USD/MT – 553.19 (+3.73)
MGO - USD/MT – 653.69 (+6.15)
The MABUX ARA LNG Bunker Index, calculated as the average price of LNG as a marine fuel in the ARA region, showed a moderate increase on September 06: 1027.64 USD / MT (plus 2.25 USD). The MABUX LNG Bunker Index exceeds the cost of MGO LS in the port of Rotterdam by 438.64 USD (589 USD / MT as of 03 September), the difference in price compared to the day before decreased by 7.75 USD. LNG bunker indices are available at www.mabux.com.
As of September 03, 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 grade was overvalued in three ports out of four: Singapore: plus $ 27 (unchanged), Houston plus $ 7 (plus $ 10 the day before) and Fujairah: plus $ 25 (plus $ 34). Rotterdam is still the only port where the MABUX MBP / DBP Index registered an underpricing: minus $ 1 (minus $ 2).
VLSFO, according to the MABUX MBP / DBP Index, returned to the underestimation segment again on September 03 in all ports, except for Houston, where this fuel grade was overcharged by plus $ 3 (plus $ 8 a day earlier). In other ports, the registered underpricing was in Singapore: minus $ 2 (plus $ 4), in Fujairah: minus $ 1 (plus $ 10) and in Rotterdam: minus $ 1 (plus $ 5). In general, for VLSFO fuel, MABUX MBP / DBP Index has registered almost 100% correlation in all selected ports.
MGO LS, according to the MABUX MBP / DBP Index, remained undervalued on September 03 in all selected ports. MGO LS underestimation ratio was registered as: in Rotterdam - minus $ 31 (minus $ 19), minus $ 43 (minus $ 29) in Singapore, minus $ 32 (minus $ 10) in Fujairah and minus $ 27 (minus $ 22) in Houston. In contrast to VLSFO, the MABUX MBP / DBP Index has recorded a sharp rise of MGO LS underestimation margins on Sep.03. The most significant change was in Fujairah ($ 22 up).
We expect global bunker prices may slightly down today: 380 HSFO – minus 2-4 USD/MT, VLSFO – minus 2-5 USD/MT, MGO LS – plus 2-4 USD/MT.
Source: www.mabux.com
