Bunker Global Open Directory News
2024-02-05MABUX: Global bunker indices to continue downward trend on Feb. 05.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO) demonstrated a steady downtrend on Feb.02:
380 HSFO - USD/MT - 509.93 (-2.52)
VLSFO - USD/MT – 667.63 (-6.42)
MGO - USD/MT – 904.64 (-12.92)
As of Feb.02, the MABUX MBP/DBP Index (MDI), monitoring the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), indicated the following trends at four selected ports: Rotterdam, Singapore, Fujairah, and Houston.
- HSFO segment: All four selected ports remained undercharged, with the underprice premium narrowing by $7 in Rotterdam, $14 in Singapore, $17 in Fujairah, but widening by $2 in Houston. The MDI index in Fujairah still exceeds the $100 mark.
- VLSFO segment: Three selected ports continued to be overcharged, with the overprice ratio increasing by $13 in Singapore, $15 in Fujairah and $11 in Houston. Rotterdam remained the only undercharged port, with the underprice premium narrowing further by $9.
- MGO LS segment: Houston was the only overcharged port in this fuel segment, with the overcharge margin increasing by $5. The other three selected ports were undercharged. Undercharge premiums have risen further by $19 in Rotterdam, $8 in Singapore and $15 in Fujairah. Underprice ratio in Rotterdam and Singapore remained above the $100 mark.
We expect Global bunker indices to continue a firm downward movement on Feb.05: 380 HSFO – minus 3-7 USD/MT, VLSFO – minus 4-8 USD/MT, MGO LS – minus 7-12 USD/MT.
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