Bunker Global Open Directory News
2024-11-14MABUX: Global bunker market to show slight upward correction on Nov.14.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), showed no clear trend and displayed minor, irregular changes:
380 HSFO - USD/MT - 520.62 (-0.64)
VLSFO - USD/MT – 598.26 (-1.29)
MGO - USD/MT – 757.74 (+0.69)
As of Nov.13, the MABUX MBP/DBP Index (MDI), tracking the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), highlighted the following trends across major ports – Rotterdam, Singapore, Fujairah, and Houston:
• HSFO segment: Houston re-entered the overcharge zone, joining Rotterdam, with the overprice premium rising by $1 in Rotterdam and $2 in Houston. Singapore and Fujairah were undercharged, with the underprice margin decreasing by $2 in Fujairah and holding steady in Singapore.
• VLSFO segment: Rotterdam and Houston stayed undercharged, with the underpricing gap narrowing by $2 in Rotterdam and widening by $3 in Houston. Singapore and Fujairah remained overcharged, with the overpricing declining by $2 and $1, respectively.
• MGO LS segment: All four ports continued to be undercharged. The underprice rate increased by $6 in Rotterdam, $5 in Singapore, $9 in Fujairah, and $8 in Houston. The MDI index in Singapore is nearing the $100 mark.
We expect Global bunker indices to trend slightly higher on Nov.14: 380 HSFO – plus 0-2 USD/MT, VLSFO – plus 0-2 USD/MT, MGO LS – plus 1-3 USD/MT.
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