Bunker Global Open Directory News
2024-10-24MABUX: Global bunker indices to shift to slight downward correction on Oct.24.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), continued an upward evolution on Oct.23, marking the second consecutive day of increases:
380 HSFO - USD/MT - 539.39 (+5.25)
VLSFO - USD/MT – 615.11 (+3.75)
MGO - USD/MT – 769.82 (+5.93)
As of Oct.23, 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: Rotterdam and Houston stayed in the overcharge zone, with premiums rising by $4 in Rotterdam and $9 in Houston. Singapore and Fujairah remained underpriced, with the gap increasing by $3 and $9 respectively. The MDI index in Singapore remains near a 100-percent correlation mark between the market price and the MABUX digital benchmark.
- VLSFO segment: Singapore and Fujairah continued to be overpriced. The margins narrowed further by $8 in Singapore and $12 in Fujairah. Rotterdam and Houston were in the underprice zone, with the ratio widening further by $10 and $4, respectively.
- MGO LS segment: All four selected ports were undercharged. The underprice premium increased by $9 in Rotterdam, $16 in Fujairah, and $12 in Houston. The MDI in Singapore remained stable, while Rotterdam’s MDI approached the $100 mark once again.
We expect Global bunker indices to shift to a slight downward correction on Oct.24: 380 HSFO –minus 2-4 USD/MT, VLSFO –minus 3-5 USD/MT, MGO LS – minus 2-4 USD/MT.
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