Bunker Global Open Directory News
2024-11-13MABUX: Global bunker market to shift towards a slight upward correction on Nov.13.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), marked its fifth consecutive decline on Nov. 12:
380 HSFO - USD/MT - 521.26 (-3.74)
VLSFO - USD/MT – 599.55 (-4.97)
MGO - USD/MT – 757.05 (-4.34)
As of Nov.12, the MABUX MBP/DBP Index (MDI), monitoring the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), registered the following trends across major ports – Rotterdam, Singapore, Fujairah, and Houston:
• HSFO segment: Singapore and Fujairah remained in the undercharge zone, with the underprice premium decreasing further by $6 in Singapore but increasing by $4 in Fujairah. Rotterdam, the only overpriced port, saw its premium rise further by $11. The MDI index in Houston showed a 100-percent correlation between the market price and the MABUX digital benchmark, while Singapore was nearing this level.
• VLSFO segment: Rotterdam and Houston continued to be undercharged, with the gap narrowing further by $10 and $13, respectively. Singapore and Fujairah remained overcharged, with overpricing widening by $6 in Singapore and $3 in Fujairah.
• MGO LS segment: All four ports were in the undercharge zone. The underprice rate declined further by $9 in Rotterdam, $6 in Fujairah, and $10 in Houston, but rose by $8 in Singapore.
We expect Global bunker indices to turn to a slight upward evolution on Nov.13: 380 HSFO – plus 0-2 USD/MT, VLSFO – plus 0-2 USD/MT, MGO LS – plus 1-4 USD/MT.
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