Bunker Global Open Directory News
2024-03-12MABUX: Slight uptrend to prevail in Global bunker market on Mar.12.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO) drifted lower on Mar. 11:
380 HSFO - USD/MT - 536.05 (-4.04)
VLSFO - USD/MT – 673.83 (-6.19)
MGO - USD/MT – 898.21 (-4.72)
As of Mar. 11, the MABUX MBP/DBP Index (MDI), which tracks 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 stayed in the undercharged zone. The underprice premium widened by $2 in Rotterdam, $1 in Singapore and $2 in Fujairah, but narrowed by $3 in Houston. The MDI index in Fujairah still remained above the $100 mark.
- VLSFO segment: Three selected ports continued to be overcharged, with the overprice ratio increasing by $2 in Singapore and $5 in Houston but decreasing by $1 Fujairah. Rotterdam remained the only underpriced port, with the premium decreasing by $3.
- MGO LS segment: Houston was the only port in the overcharge zone, with the margin rising by $12. The other three ports remained undercharged, with the underprice ratio dropping by $26 in Rotterdam, $20 in Singapore, and $18 in Fujairah. The MDI index in both Rotterdam and Singapore continued to be above the $100 mark.
We expect Global bunker indices to shift to a slight uptrend on Mar. 12: 380 HSFO – plus 1-3 USD/MT, VLSFO – plus 1-3 USD/MT, MGO LS – plus 1-4 USD/MT.
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