Bunker Global Open Directory News
2024-03-21MABUX: Global bunker indices to keep trending lower on Mar.21.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO) turned to a moderate downtrend on Mar. 20:
380 HSFO - USD/MT - 546.81 (-1.56)
VLSFO - USD/MT – 691.70 (-0.57)
MGO - USD/MT – 909.35 (-6.04)
As of Mar. 20, the MABUX MBP/DBP Index (MDI), monitoring 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 were in the undercharge zone. The underprice premium narrowed by $1 in Rotterdam but widened by $3 in Singapore, $2 in Fujairah and $7 in Houston. The MDI index in Fujairah remained above the $100 mark.
- VLSFO segment: Fujairah shifted into the underprice zone, joining Rotterdam and Houston, with the underprice premium increasing by $2 in Rotterdam, $7 in Fujairah and $1 in Houston. Singapore remained the only overcharged port, with the overprice ratio decreasing by $7.
- MGO LS segment: Houston returned to the overcharge zone, making it the only overpriced port in this segment of fuel, with the margin increasing by $12. The other three ports were underpriced, with the premium staying unchanged in Rotterdam, increasing by $7 in Singapore and decreasing by $6 in Fujairah. MDI index in Rotterdam and Singapore remained above the $100 mark.
We expect Global bunker indices to continue trending downward on Mar. 21: 380 HSFO – minus 3-6 USD/MT, VLSFO – minus 4-8 USD/MT, MGO LS – minus 5-15 USD/MT.
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