Bunker Global Open Directory News
2024-11-04MABUX: Global bunker indices to change sideways with no firm trend on Nov.04.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), continued its upward trend on Nov.01 for the second consecutive day:
380 HSFO - USD/MT - 535.17 (+0.62)
VLSFO - USD/MT – 606.01 (+2.61)
MGO - USD/MT – 765.68 (+7.83)
As of Nov.01, the MABUX MBP/DBP Index (MDI), tracking the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), registered the following trends across key ports – Rotterdam, Singapore, Fujairah, and Houston:
• HSFO segment: Rotterdam, Singapore and Houston were overcharged, with overprice premium decreasing by $2 in Rotterdam, $3 in Singapore, and $10 in Houston. Fujairah remained undervalued, with the underprice premium increasing further by $3.
• VLSFO segment: Rotterdam and Houston stayed in the undercharge zone, with margins widening by $1 and $2, respectively. In contrast, Singapore and Fujairah were overvalued, with the gap widening further by $3 in Singapore and $8 in Fujairah.
• MGO LS segment: All four ports continued to be undercharged. The underpricing rate increased further by $7 in Rotterdam and $4 in Houston, but decreased by $11 in Singapore. In Fujairah, the MDI index remained unchanged, while in Rotterdam, it approached the $100 mark.
We expect Global bunker indices to change irregular with no a sustainable trend on Nov.04: 380 HSFO – plus-minus 1-5 USD/MT, VLSFO – plus-minus 1-6 USD/MT, MGO LS – plus-minus 1-6 USD/MT.
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