Bunker Global Open Directory News
2024-03-18MABUX: Global bunker market to await a shift in sentiment on Mar.18.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO) continued a slight upward movement on Mar. 15:
380 HSFO - USD/MT - 543.20 (+1.06)
VLSFO - USD/MT – 685.46 (+3.02)
MGO - USD/MT – 904.82 (+1.45)
As of Mar. 15, the MABUX MBP/DBP Index (MDI), tracking 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 continued to be undercharged. The underprice premium widened by $3 in Rotterdam, $5 in Singapore, $1 in Fujairah, but narrowed by $1 in Houston. MDI index in Fujairah remained close to the $100 mark.
- VLSFO segment: Houston shifted to the underprice zone, joining Rotterdam, with the underprice premium increasing in Rotterdam by $5 and in Houston by $8. The other two selected ports remained overcharged, with the overprice ratio decreasing further by $8 in Singapore and $7 in Fujairah.
- MGO LS segment: Houston was the only overcharged port, with the margin dropping by $6 and approaching the $100 correlation mark between market price and MABUX digital benchmark. The other three ports remained undercharged, with the ratio rising further by $2 in Rotterdam, $9 in Singapore and $8 in Fujairah. Rotterdam’s and Singapore’s MDI index stayed above the $100 mark.
We do not expect a firm trend in the Global bunker market on Mar. 18: 380 HSFO – minus 0-2 USD/MT, VLSFO – minus 0-2 USD/MT, MGO LS – plus 3-5 USD/MT.
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