Bunker Global Open Directory News2023-08-31
MABUX: Global bunker market to continue irregular changes with no firm trend on Aug.31.
MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO) turned into slight uptrend on Aug. 30:
380 HSFO - USD/MT - 565.15 (+2.72)
VLSFO - USD/MT – 667.08 (+1.70)
MGO - USD/MT – 997.54 (+10.34)
As of Aug. 30, 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 narrowing in Rotterdam by $2 and in Houston by $20. Singapore and Fujairah, on the contrary, were underpriced with Singapore's undercharge margin expanding by $2 and Fujairah’s by $6.
- VLSFO segment: Fujairah transitioned into undercharge area and joined Rotterdam. The undercharge premium rose by $5 in Rotterdam and by $9 in Fujairah. Singapore remained the only overpriced port while the gap narrowed by another $7, but the gap lessened by an additional $7, nearing a 100 percent MDI correlation’s mark between market price and digital benchmark, while Houston reached this mark.
- MGO LS segment: All four selected ports remained undervalued. The undercharge premium narrowed across all ports: by $22 in Rotterdam, by $15 in Singapore, by $12 in Fujairah and by $1 in Houston.
Global bunker market to continue irregular changes with no firm trend on Aug.31: 380 HSFO – plus 1-4 USD/MT, VLSFO – plus 1-4 USD/MT, MGO LS – minus 2-20 USD/MT.www.mabux.com