Bunker Global Open Directory News
2024-04-18MABUX: Downward trend to prevail in Global bunker market on Apr. 18.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO) did not have a firm trend and changed irregular on Apr. 17:
380 HSFO - USD/MT - 553.74 (+2.26)
VLSFO - USD/MT – 694.62 (+0.85)
MGO - USD/MT – 893.74 (-2.01)
As of Apr. 17, the MABUX MBP/DBP Index (MDI), monitoring the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), registered the following price trends across major ports: Rotterdam, Singapore, Fujairah, and Houston.
- HSFO segment: All four selected ports remained in the undercharge zone, with premiums widening by $2 in Rotterdam, $2 in Singapore, and $3 in Houston, but narrowing further by $8 in Fujairah. The MDI index in Fujairah fell below the $100 threshold.
- VLSFO segment: All four ports were underpriced, with undercharge margins shrinking by $1 in Singapore and $2 in Fujairah while increasing by $5 in Houston. The MDI index in Rotterdam remained steady.
- MGO LS segment: Houston was the only overpriced port, with the premium declining further by $1, bringing the MDI index closer to a 100% correlation between market price and digital benchmark. The other three ports were underpriced, with the ratio increasing by $7 in Rotterdam, $3 in Singapore, and $2 in Fujairah.
We expect Global bunker indices to revert to a downward trajectory on Apr. 18: 380 HSFO – minus 5-8 USD/MT, VLSFO – minus 5-12 USD/MT, MGO LS – minus 6-11 USD/MT.
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