Bunker Global Open Directory News
2024-05-08MABUX: No sustainable trend as the Global bunker market awaits new direction on May 08.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO) continued to change insignificant and irregular on May 07:
380 HSFO - USD/MT - 550.94 (+0.04)
VLSFO - USD/MT – 664.42 (-0.02)
MGO - USD/MT – 852.11 (+1.47)
As of May 07, the MABUX MBP/DBP Index (MDI), tracking 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 stayed in the undercharge zone, with underprice premiums narrowing by $2 in Singapore and $1 in Fujairah, while widening by $1 in Houston. The MDI index in Rotterdam remained unchanged the second day in a row.
- VLSFO segment: All four ports continued to be underpriced. Undercharge margins decreased in Rotterdam by $1 but increased in Singapore, Fujairah and Houston by $2 each. The MDI index in Singapore and Fujairah stayed close to the 100-percent correlation mark between market price and MABUX digital benchmark.
- MGO LS segment: Rotterdam and Singapore continued to be underpriced with premiums declining by $1 in Rotterdam but remaining unchanged in Singapore. Fujairah and Houston were overcharged. Overprice premiums rose further by $6 in Fujairah but dropped by $1 in Houston. The MDI index in Rotterdam and Singapore stayed steady below the $100 mark.
We do not expect a sustainable trend in the Global bunker market on May 08, with irregular changes prevailing: 380 HSFO – plus-minus 1-3 USD/MT, VLSFO – plus-minus 1-3 USD/MT, MGO LS –plus-minus 1-3 USD/MT.
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