Bunker Global Open Directory News
2024-11-07MABUX: Global bunker indices to shift to downward trend on Nov.07.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), showed a slight decline on Nov.06:
380 HSFO - USD/MT - 529.79 (-6.01)
VLSFO - USD/MT – 609.14 (-1.70)
MGO - USD/MT – 773.18 (-2.21)
As of Nov.06, the MABUX MBP/DBP Index (MDI), tracking the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), recorded the following trends across major ports – Rotterdam, Singapore, Fujairah, and Houston:
• HSFO segment: Singapore and Houston returned to the undercharge zone, joining Fujairah, with the underprice premium increasing by $8 in Singapore, $3 in Fujairah, and $16 in Houston. Rotterdam remained the only overprice port, with the premium narrowing by $13.
• VLSFO segment: Rotterdam and Houston stayed undercharged, with underpricing widening by $2 and $1, respectively. In contrast, Singapore and Fujairah were in the overcharge zone, though the overpricing narrowed by $7 in Singapore and $3 in Fujairah.
• MGO LS segment: All four ports continued to be undercharged. The underpricing rate rose by $9 in Rotterdam, $17 in Singapore, $12 in Fujairah, and $4 in Houston. MDI indexes in Rotterdam abd Singapore surpassed the $100 mark.
We expect Global bunker indices to trend downwards on Nov.07: 380 HSFO – minus 1-3 USD/MT, VLSFO – minus 1-4 USD/MT, MGO LS – minus 2-5 USD/MT.
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