Bunker Global Open Directory News
2024-11-12MABUX: Sustainable downward trend in Global bunker market to continue on Nov.12.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), marked its fourth consecutive day of decline on Nov. 11:
380 HSFO - USD/MT - 525.00 (-1.43)
VLSFO - USD/MT – 604.52 (-2.02)
MGO - USD/MT – 761.39 (-7.31)
As of Nov.11, the MABUX MBP/DBP Index (MDI), tracking the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), showed the following trends across major ports – Rotterdam, Singapore, Fujairah, and Houston:
• HSFO segment: Singapore, Fujairah, and Houston stayed in the undercharge zone, with the underprice premium decreasing by $9, $6, and $5, respectively. Rotterdam, however, was the only overpriced port, with its premium increasing by $7.
• VLSFO segment: Rotterdam and Houston continued to be undercharged, with underpricing narrowing by $11 in Roterdam and $13 in Houston. Singapore and Fujairah were overcharged, with overpricing widening by $6 in Singapore and $1 in Fujairah.
• MGO LS segment: All four ports were undercharged. The underprice rate declined further by $6 in Rotterdam, $15 in Singapore, and $10 in Fujairah, and $4 in Houston.
We expect the Global bunker market to continue a sustainable downward trend on Nov.12: 380 HSFO – minus 3-8 USD/MT, VLSFO – minus 4-10 USD/MT, MGO LS – minus 5-9 USD/MT.
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