Bunker Global Open Directory News

2024-03-20

MABUX: Sideways changes to prevail in the Global bunker market on Mar.20.

MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO) continued trending upward on Mar. 19, marking the fourth consecutive day:

380 HSFO - USD/MT - 548.37 (+3.11)

VLSFO - USD/MT – 692.27 (+3.62)

MGO - USD/MT – 915.39 (+6.33)

As of Mar. 19, the MABUX MBP/DBP Index (MDI), which tracks the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), recorded the following trends at four key ports: Rotterdam, Singapore, Fujairah, and Houston.

- HSFO segment: All four selected ports remained undercharged. The underprice premium widened by $4 in Rotterdam and $7 in Singapore but narrowed by $1 Fujairah and $3 in Houston. The MDI index in Fujairah stayed close to the $100 mark.

- VLSFO segment: Houston shifted into the underprice zone, joining Rotterdam, with the underprice premium increasing by $6 in Rotterdam and $5 in Houston. Singapore and Fujairah remained overcharged. The overprice ratio decreased by $8 in Singapore and by $10 in Fujairah.

- MGO LS segment: Houston moved to the overcharge zone, making all four selected ports underpriced, with the margins rising by $8 in Rotterdam, $7 in Singapore, $3 in Fujairah and $7 in Houston. MDI index in Rotterdam and Singapore remained above the $100 mark.

We do not expect a sustained trend in the Global bunker market on Mar. 20: 380 HSFO – plus 1-3 USD/MT, VLSFO – plus 2-5 USD/MT, MGO LS – minus 3-6 USD/MT.

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