Bunker Global Open Directory News
2023-11-17MABUX: Sustainable downward trend to prevail in Global bunker market on Nov.17.
MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO) reverted to a downtrend on Nov. 16:
380 HSFO - USD/MT - 537.31 (-1.74)
VLSFO - USD/MT – 670.99 (-5.58)
MGO - USD/MT – 925.85 (-3.73)
As of Nov. 16, the MABUX MBP/DBP Index (MDI), which tracks the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), has observed the following trends in four selected ports: Rotterdam, Singapore, Fujairah, and Houston.
- HSFO segment: All four selected ports remained in the undercharge zone, with the underprice premium narrowing further by $5 in Rotterdam, $9 in Fujairah and $6 in Houston. MDI index in Singapore stayed unchanged. The undervalue level in Fujairah is still above $100, while in Houston, it approached the 100-percent correlation mark between market bunker price and the digital benchmark.
- VLSFO segment: Rotterdam and Houston were in the undercharge zone, observing a $7 decrease in underprice premiums in Rotterdam and a $4 decrease in Houston. Singapore and Fujairah remained overcharged, with overprice margins rising by $3 in Singapore and $1 in Fujairah.
- MGO LS segment: All four ports remained undercharged, with the underprice ratio narrowing by $3 in Rotterdam, $5 in Singapore, $10 in Fujairah, but widening by $9 in Houston. The MDI index in Rotterdam and Singapore stayed above the $100 mark.
We expect Global bunker indices to demonstrate a sustainable downtrend on Nov. 17: 380 HSFO – minus 5-10 USD/MT, VLSFO – minus 5-10 USD/MT, MGO LS – minus 5-18 USD/MT.
www.mabux.com