Bunker Global Open Directory News

2023-11-20

MABUX: Global bunker indices to resume the upward trend on Nov. 20.

MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO) continued a firm downward movement on Nov. 17:

380 HSFO - USD/MT - 530.27 (-7.04)

VLSFO - USD/MT – 659.45 (-11.54)

MGO - USD/MT – 912.87 (-12.98)

As of Nov. 17, 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: Houston has moved to the overcharge zone, with overprice premium widening by $7. Meanwhile, the other three selected ports remained in the undercharge zone, with underprice margins narrowing further by $16 in Rotterdam, $16 in Singapore and $10 in Fujairah. The undervalue level in Fujairah has approached the $100 mark but remains above it.

- VLSFO segment: Rotterdam and Houston continued to be in the undercharge zone, observing a $14 decrease in underprice premiums in Rotterdam and a $21 decrease in Houston. Singapore and Fujairah were overcharged, with overprice margins rising further by $28 in Singapore and $16 in Fujairah.

- MGO LS segment: All four ports remained undercharged, with the underprice ratio narrowing by $6 in Rotterdam, $9 in Singapore, $16 in Fujairah and $15 in Houston. The MDI index in Rotterdam and Singapore has fallen below the $100 mark.

We expect Global bunker indices to resume the upward evolution on Nov. 20: 380 HSFO – plus 5-12 USD/MT, VLSFO –plus 5-15 USD/MT, MGO LS – plus 7-12 USD/MT.

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