Bunker Global Open Directory News
2024-03-22MABUX: Firm downward movement to prevail in the Global bunker market on Mar.22.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO) sustained its downward trajectory on Mar. 21:
380 HSFO - USD/MT - 545.35 (-1.46)
VLSFO - USD/MT – 687.70 (-4.00)
MGO - USD/MT – 900.51 (-8.84)
As of Mar. 21, 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 remained in the undercharge zone. The underprice premium narrowed by $5 in Rotterdam, $7 in Fujairah and $10 in Houston, while it widened by $1 in Singapore. The MDI index in Fujairah dropped below the $100 mark.
- VLSFO segment: Fujairah and Houston moved back to the overcharge zone, joining Singapore, with the overprice premium increasing by $3 in Singapore, $10 in Fujairah and $15 in Houston. Rotterdam remained the only underpriced port, with the ratio decreasing by $7.
- MGO LS segment: Houston is the only overcharged port in this segment of bunker fuel, with the margin rising by $8. The other three ports were underpriced, with the premium dropping by $14 in Rotterdam, $4 in Singapore, and $16 in Fujairah. The MDI index in Rotterdam fell below the $100 mark, whereas Singapore remained above it.
We expect Global bunker indices to continue a firm downward movement on Mar. 21: 380 HSFO – minus 1-3 USD/MT, VLSFO – minus 1-3 USD/MT, MGO LS – minus 3-6 USD/MT.
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