Bunker Global Open Directory News
2024-11-15MABUX: Global bunker market to continue slight upward trend on Nov.15.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), recorded slight increases on Nov.14:
380 HSFO - USD/MT - 520.89 (+0.27)
VLSFO - USD/MT – 598.62 (+0.36)
MGO - USD/MT – 758.74 (+1.00)
As of Nov.14, the MABUX MBP/DBP Index (MDI), which monitors 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: Houston returned to the undercharge zone, joining Singapore and Fujairah, with the underprice premium decreasing by $1 in Singapore but rising by $4 in Fujairah and $7 in Houston. Rotterdam remained the only overcharged port in this bunker segment, with its margin increasing further by $7. Both Singapore and Houston are nearing a 100-percent correlation mark between market prices and the MABUX digital benchmark.
• VLSFO segment: Rotterdam and Houston stayed undercharged, with the underpricing gap widening by $4 in Rotterdam and remaining steady in Houston. Singapore and Fujairah continued to be overcharged, with overpricing narrowing by $1 and $6, respectively.
• MGO LS segment: All four ports were undercharged. The underprice rate increased by $2 in Rotterdam, $1 in Singapore, $4 in Fujairah, and $1 in Houston. Singapore's MDI index is nearing the $100 mark.
We expect Global bunker indices to continue trending higher on Nov.15: 380 HSFO – plus 0-2 USD/MT, VLSFO – plus 0-2 USD/MT, MGO LS – plus 1-3 USD/MT.
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