Bunker Global Open Directory News
2024-03-28MABUX: Slight downward trend to persist in the Global bunker market on Mar.28.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO) demonstrated a slight decline on Mar. 27:
380 HSFO - USD/MT - 546.18 (-2.12)
VLSFO - USD/MT – 687.64 (-3.24)
MGO - USD/MT – 891.25 (-8.21)
As of Mar. 27, the MABUX MBP/DBP Index (MDI), which tracks 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, with the underprice premium narrowing by $3 in Rotterdam and $1 in Houston but widening by $3 in Singapore and $1 in Fujairah. The MDI index in Fujairah stayed above the $100 mark.
- VLSFO segment: Only one port: Singapore - remained in the overcharge zone, with the overprice premium decreasing by another $2 and MDI index nearing the $100 mark. Fujairah’s and Houston’s MDI indexes recorded a 100-percent correlation between market price and MABUX digital benchmark. Meanwhile, Rotterdam was the only underpriced port, with the ratio increasing by an additional $1.
- MGO LS segment: Three selected ports continued to be undercharged, with the premium dropping by $5 in Rotterdam and $2 in Singapore but rising by $1 in Fujairah. Both Rotterdam and Singapore's MDI indices remained above the $100 mark. Houston shifted back to the overprice zone, with the premium increasing by $12.
We expect a slight downward trend to continue in the Global bunker market on Mar. 28: 380 HSFO – minus 1-3 USD/MT, VLSFO – minus 1-3 USD/MT, MGO LS – minus 2-4 USD/MT.
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