Bunker Global Open Directory News
2023-11-29MABUX: Global bunker indices to surge on Nov.29.
MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO) changed insignificant and irregular on Nov. 28:
380 HSFO - USD/MT - 525.08 (+0.27)
VLSFO - USD/MT – 663.61 (-0.57)
MGO - USD/MT – 918.29 (-0.67)
As of Nov. 28, the MABUX MBP/DBP Index (MDI), which monitors the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), has identified the following trends in four selected ports: Rotterdam, Singapore, Fujairah, and Houston.
- HSFO segment: All four selected ports were undercharged. The underprice margins have narrowed by $5 in Singapore, $3 in Fujairah and $6 in Houston. The MDI Index in Rotterdam remained unchanged, while Houston approaches a 100 percent correlation between market price and the digital benchmark.
- VLSFO segment: Rotterdam and Houston remained in the undercharge zone, with a $3 decrease in underprice premiums in Rotterdam and $6 decrease in Houston. Singapore and Fujairah remained overcharged, with overprice margins increasing by $1 in Singapore and $3 in Fujairah.
- MGO LS segment: All four ports continued to be undercharged, with the underprice ratio contracting by $14 in Rotterdam, $15 in Singapore and $5 in Fujairah, but expanding by $1 in Houston. MDI index in Rotterdam fell below the $100 mark while in Singapore, it remained above $100.
We expect Global bunker indices to surge on Nov. 29: 380 HSFO – plus 3-7 USD/MT, VLSFO – plus 3-8 USD/MT, MGO LS – plus 5-12 USD/MT.
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