Bunker Global Open Directory News2023-09-06
MABUX: Sustainable upward evolution to resume in Global bunker market on Sep.06.
MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO) did not show a firm trend and changed sideways on Sep. 05:
380 HSFO - USD/MT - 571.71 (-0.03)
VLSFO - USD/MT – 673.32 (-0.22)
MGO - USD/MT – 997.27 (+5.32)
As of Sep. 05, the MABUX MBP/DBP Index (MDI) (the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP)), registered the following changes in four selected ports: Rotterdam, Singapore, Fujairah and Houston:
- HSFO segment: MDI in Rotterdam registered 100 percent correlation between market price and digital benchmark. Thus, Houston remained the only overcharged port with the premium widening by $2. Singapore and Fujairah, on the contrary, remained underpriced with Singapore's undercharge margin increasing further by $9 and Fujairah’s by $8.
- VLSFO segment: MDI registered underpricing in all four selected ports. The undercharge premium increased by $3 in Rotterdam, $3 in Singapore and $5 in Fujairah. In Houston, MDI remained unchanged.
- MGO LS segment: All four selected ports were in the underpriced area. The undervalue ratio increased by $7 in Rotterdam, $1 in Singapore, $5 in Fujairah and $7 in Houston.
We expect Global bunker indices to resume a sustainable upward evolution on Sep. 06: 380 HSFO – plus 2-6 USD/MT, VLSFO – plus 2-6 USD/MT, MGO LS – plus 5-15 USD/MT.www.mabux.com