Bunker Global Open Directory News2023-08-29
MABUX: Global bunker market awaits new direction on Aug. 29.
MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO) continued surging on Aug. 28:
380 HSFO - USD/MT - 563.31 (+4.96)
VLSFO - USD/MT – 664.93 (+4.23)
MGO - USD/MT – 983.74 (+9.70)
As of Aug. 28, the MABUX MBP/DBP Index (MDI) (the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP)), recorded the following changes in four selected ports: Rotterdam, Singapore, Fujairah and Houston:
- HSFO segment: Rotterdam and Houston remained overcharged, with the disparity narrowed in Rotterdam by $2 and expanded in Houston by $9. Conversely, Singapore and Fujairah experienced increased underpricing, with undercharge margins growing by $7 and $2 respectively.
- VLSFO segment: Houston transitioned into the undercharged area, joining Rotterdam. The underpricing surged by $8 in Rotterdam and by $11 in Houston. Singapore and Fujairah remained overpriced with ratio widening by $2 in Singapore but narrowing by $3 in Fujairah. Fujairah approached a 100 percent MDI correlation mark.
- MGO LS segment: All four selected ports remained undervalued. Rotterdam’s margins expanded by $16, Singapore’s – by $7, Fujairah’s - by $11 and Houston’s – by $37.
We do not expect s sustainable trend in Global bunker market on Aug.29: 380 HSFO – plus-minus 1-3 USD/MT, VLSFO – plus-minus 1-3 USD/MT, MGO LS – plus-minus 3-15 USD/MT.www.mabux.com