Bunker Global Open Directory News
2024-09-11MABUX: Firm downward movement to prevail in Global bunker market on Sep.11.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), did not show a firm trend and changed irregularly on Sep.10:
380 HSFO - USD/MT - 495.90 (+0.07)
VLSFO - USD/MT – 600.61 (-4.57)
MGO - USD/MT – 751.58 (-0.65)
As of Sep.10, the MABUX MBP/DBP Index (MDI), tracking the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), indicated the following trends across key ports – Rotterdam, Singapore, Fujairah, and Houston:
- HSFO segment: All four ports continued to stay in the undercharge zone. The underpricing margin widened further by $2 in Rotterdam, $4 in Singapore, $3 in Fujairah, and $17 in Houston.
- VLSFO segment: Rotterdam and Houston remained undercharged, with the premium rising further by $7 in Rotterdam and $16 in Houston. Singapore and Fujairah were overpriced, with the gap declined by $26 in both ports.
- MGO LS segment: Houston returned to the undercharge zone, leaving all four selected ports underpriced. The underpricing ratio narrowed by $6 in Rotterdam, $7 in Fujairah, and $14 in Houston, while it widened by $8 in Singapore. The MDI index in both Rotterdam and Singapore remained stable above the $100 mark.
We expect a firm downward movement to prevail in the Global bunker market on Sep.11: 380 HSFO – minus 3-8 USD/MT, VLSFO – minus 5-10 USD/MT, MGO LS – minus 5-10 USD/MT.
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