Bunker Global Open Directory News
2024-03-11MABUX: Global bunker indices to start the week trending lower.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO) changed irregular with no firm trend on Mar. 08:
380 HSFO - USD/MT - 540.09 (+0.83)
VLSFO - USD/MT – 680.02 (-1.86)
MGO - USD/MT – 902.93 (+2.16)
As of Mar. 08, the MABUX MBP/DBP Index (MDI), monitoring the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), registered the following trends at four key ports: Rotterdam, Singapore, Fujairah, and Houston.
- HSFO segment: All four selected ports were in the undercharged zone. The underprice premium narrowed by $1 in Rotterdam, $9 in Singapore, $3 in Fujairah, and $3 in Houston. The MDI index in Fujairah remained above the $100 mark.
- VLSFO segment: Three selected ports were overcharged, with the overprice ratio increasing by $2 in Houston but remaining unchanged in Singapore and Fujairah. Rotterdam was the only underpriced port, with the premium increasing by $3.
- MGO LS segment: Houston remained the only port in the overcharge zone, with the margin dropping further by $14 and approaching the 100-percent correlation mark between market price and MABUX digital benchmark. The other three ports stayed undercharged, with the underprice ratio rising further by $21 in Rotterdam, $4 in Singapore, and $5 in Fujairah. The MDI index in both Rotterdam and Singapore remained above the $100 mark.
We expect Global bunker indices to show slight downward movement on Mar. 11: 380 HSFO – minus 2-4 USD/MT, VLSFO – minus 3-6 USD/MT, MGO LS – minus 5-15 USD/MT.
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