Bunker Global Open Directory News
2024-11-11MABUX: Global bunker indices to resume downward movement on Nov.11.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), continued its slide on Nov.08:
380 HSFO - USD/MT - 526.43 (-0.97)
VLSFO - USD/MT – 606.54 (-0.96)
MGO - USD/MT – 768.70 (-0.40)
As of Nov.08, the MABUX MBP/DBP Index (MDI), which monitors the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), revealed the following trends across major ports – Rotterdam, Singapore, Fujairah, and Houston:
• HSFO segment: Three ports: Singapore, Fujairah and Houston continued to be undercharged, with the underprice premium increasing by $4 in Singapore and $1 in Fujairah but decreasing by $1 in Houston. Rotterdam remained the only overpriced port, with its premium narrowing further by $7, nearing a 100-percent correlation mark between the market price and the MABUX digital benchmark.
• VLSFO segment: Rotterdam and Houston were in the undercharge zone, with the underpricing widening by $7 in Roterdam and $1 in Houston. Singapore and Fujairah were overcharged, though the overpricing narrowed by $9 in Singapore and $4 in Fujairah.
• MGO LS segment: All four ports stayed in the undercharge zone. The underprice rate declined by $9 in Rotterdam, $6 in Singapore, and $7 in Fujairah, but rose by $4 in Houston. The MDI indexes in both Rotterdam abd Singapore dropped below the $100 mark.
We expect a slight downward trend to prevail in the Global bunker market on Nov.11: 380 HSFO – minus 3-7 USD/MT, VLSFO – minus 3-8 USD/MT, MGO LS – minus 5-9 USD/MT.
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