Bunker Global Open Directory News2023-08-30
MABUX: Slight uptrend to prevail in Global bunker market on Aug. 30.
MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO) did not have a sustainable trend and changed irregular on Aug. 29:
380 HSFO - USD/MT - 562.43 (-0.88)
VLSFO - USD/MT – 665.38 (+0.45)
MGO - USD/MT – 987.20 (+3.46)
As of Aug. 29, 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 premium widening in Rotterdam by $4 and narrowing in Houston by $3. Singapore and Fujairah, on the contrary, were underpriced. Singapore's underpricing margin grew by $5, whereas Fujairah's decreased by the same amount.
- VLSFO segment: Rotterdam and Houston were two underpriced ports for thks fuel category. The undercharge ratio decreased by $5 and $3 respectively. Singapore and Fujairah showed overpricing tendencies. Singapore's overpricing gap narrowed by $2, while Fujairah's MDI index remained static, hovering close to a 100 percent MDI correlation benchmark.
- MGO LS segment: All four selected ports remained undervalued. Rotterdam's margins held steady, while Singapore's underpricing increased by $2 and Fujairah's by $6. However, Houston's undercharge ratio decreased significantly by $44.
We expect slight uptrend to prevail in Global bunker market on Aug.30: 380 HSFO – plus 3-6 USD/MT, VLSFO – plus 3-6 USD/MT, MGO LS – plus-minus 2-12 USD/MT.www.mabux.com