Bunker Global Open Directory News

2024-11-05

MABUX: Global bunker indices to resume upward trajectory on Nov.05.

MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), did not have a steady trend and changed sideways on Nov.04:

380 HSFO - USD/MT - 533.62 (-1.55)

VLSFO - USD/MT – 606.45 (+0.44)

MGO - USD/MT – 769.32 (+3.64)

As of Nov.04, the MABUX MBP/DBP Index (MDI), monitoring the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), highlighted the following trends across key ports – Rotterdam, Singapore, Fujairah, and Houston:

• HSFO segment: Rotterdam, Singapore and Houston continued to be overcharged, with the overprice premium decreasing further by $2 in Rotterdam, $1 in Singapore, and increasing by $1 in Houston. Fujairah was undervalued, with its underprice premium dropping by $2. In Singapore, the MDI index neared a 100-percent correlation between market price and the MABUX digital benchmark.

• VLSFO segment: Rotterdam and Houston were undercharged, with margins narrowing by $2 and $5, respectively. Singapore and Fujairah stayed in the overcharge zone, with the gap widening further by $1 in Singapore and $2 in Fujairah.

• MGO LS segment: All four ports remained undercharged. The underpricing rate dropped by $7 in Rotterdam, $4 in Singapore, $2 in Fujairah, and $8 in Houston. The MDI indexes in all four ports stayed below the $100 mark.

We expect Global bunker indices to resume an upward trend on Nov.05: 380 HSFO – plus 3-7 USD/MT, VLSFO – plus 3-8 USD/MT, MGO LS – plus 3-9 USD/MT.

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