Bunker Global Open Directory News2023-09-01
MABUX: Slight uptrend to prevail in Global bunker market on Sep.01.
MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO) did not show a sustainable trend and changed sideways on Aug. 31:
380 HSFO - USD/MT - 566.20 (+1.05)
VLSFO - USD/MT – 663.33 (-3.75)
MGO - USD/MT – 989.44 (-8.10)
As of Aug. 31, 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 widening in Houston by $8. Singapore and Fujairah, on the contrary, were underpriced with Singapore's undercharge margin expanding by $3 and Fujairah’s remained unchanged.
- VLSFO segment: Singapore transitioned into undercharge area and joined Rotterdam and Fujairah. The undercharge premium rose by $6 in Rotterdam, by $8 in Singapore and by $10 in Fujairah. Houston remained the only overpriced port while the margin widened by $1, still nearing a 100 percent MDI correlation’s mark between market price and digital benchmark.
- MGO LS segment: All four selected ports were undepriced. The undercharge ratio decreased in all ports: by $20 in Rotterdam, by $18 in Singapore, by $26 in Fujairah and by $30 in Houston.
We expect a slight uptrend to prevail in Global bunker market on Sep.01: 380 HSFO – plus 4-9 USD/MT, VLSFO – plus 4-10 USD/MT, MGO LS – plus 2-10 USD/MT.www.mabux.com