Bunker Global Open Directory News
2024-03-15MABUX: Sustained upward trend to prevail in the Global bunker market on Mar.15.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO) demonstrated a firm upward movement on Mar. 14:
380 HSFO - USD/MT - 542.14 (+5.96)
VLSFO - USD/MT – 682.44+5.33)
MGO - USD/MT – 903.37 (+8.13)
As of Mar. 14, 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 experienced undercharging. The underprice premium widened by $5 in Rotterdam, $3 in Singapore, and $5 in Houston but narrowed by $1 in Fujairah. MDI index in Fujairah approached further the $100 mark.
- VLSFO segment: Three selected ports remained overcharged, with the overprice ratio decreasing by $11 in Singapore, $10 in Fujairah, and $13 in Houston. Rotterdam was the only underpriced port, with the premium increasing by $6.
- MGO LS segment: Houston continued to be the only overcharged port, with the margin dropping by $16. The other three ports were undercharged, with the ratio rising by $1 in Rotterdam and $4 in Fujairah, but falling by $4 in Singapore. Rotterdam's MDI index stayed above the $100 mark, while Singapore broke through this threshold.
We expect Global bunker indices to continue a sustained upward trend on Mar. 15: 380 HSFO – plus 3-7 USD/MT, VLSFO – plus 5-10 USD/MT, MGO LS – plus 3-7 USD/MT.
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