Bunker Global Open Directory News
2024-11-01MABUX: Global bunker market to continue upward trend on Nov.01.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), showed a sustained upward movement on Oct.31:
380 HSFO - USD/MT - 534.55 (+5.53)
VLSFO - USD/MT – 603.40 (+6.50)
MGO - USD/MT – 757.85 (+7.72)
As of Oct.31, the MABUX MBP/DBP Index (MDI), which monitors the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), displayed the following trends across key ports – Rotterdam, Singapore, Fujairah, and Houston:
- HSFO segment: Three selected ports: Rotterdam, Singapore and Houston, remained in the overcharge zone, with overpricing rising further by $1 in Rotterdam and $4 in Houston, while dropping by $4 in Singapore. Fujairah was undervalued, with the underprice premium increasing by $8.
- VLSFO segment: Rotterdam and Houston were in the undercharge zone, with margins widening by $8 and $1, respectively. Singapore and Fujairah were overvalued, with the gap widening further by $4 in Singapore and $6 in Fujairah.
- MGO LS segment: All four ports stayed undercharged. The underpricing rates increased by $16 in Rotterdam and Singapore, $17 in Fujairah, and $4 in Houston.
We expect Global bunker indices to continue trending upward on Nov.01: 380 HSFO – plus 1-3 USD/MT, VLSFO – plus 2-4 USD/MT, MGO LS – plus 3-8 USD/MT.
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