Bunker Global Open Directory News
2024-10-30MABUX: Global bunker market to enter phase of irregular changes on Oct.30.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), continued its decline on Oct. 29, marking the fourth consecutive day of downward movement:
380 HSFO - USD/MT - 529.56 (-4.87)
VLSFO - USD/MT – 598.40 (-6.78)
MGO - USD/MT – 751.85 (-6.22)
As of Oct.29, the MABUX MBP/DBP Index (MDI), monitoring the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), showed the following trends across key ports – Rotterdam, Singapore, Fujairah, and Houston:
- HSFO segment: Two ports: Singapore and Houston, shifted back to the overprice zone, joining Rotterdam. Overprice premiums rose by $22 in Rotterdam, $22 in Singapore, and $26 in Houston. Fujairah remained the only undervalued port, though the margin dropped by $26.
- VLSFO segment: Fujairah moved into the overcharge zone, joining Singapore, with the gap widening by $29 in both ports. Rotterdam and Houston were undercharged, with margins dropping by $21 in Rotterdam and $26 in Houston.
- MGO LS segment: All four selected ports remained undercharged. The underpricing ratios decreased by $28 in Rotterdam, $27 in Singapore, $29 in Fujairah, and $29 in Houston. The MDI index in both Rotterdam and Houston fall below the $100 mark again.
We expect Global bunker indices to change irregular with no clear trend on Oct.30: 380 HSFO – plus-minus 1-3 USD/MT, VLSFO – plus-minus 1-3 USD/MT, MGO LS – plus-minus 1-5 USD/MT.
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